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In this episode of It's Closing Time, RentSpree CEO Michael Lucarelli speaks with Greg Robertson, founder of Giant Steps Advisors, co-creator of Vendor Alley, and co-founder of W+R Studios. Greg shares his experiences in the real estate technology space, his thoughts on starting new ventures, and navigating today's challenging environment.
NAR's MLS Policy Statement 8.6 goes into effect on September 1, 2022. So, what tools are available to make the implementation of the new One Data Source Policy easier for MLSs? Katie Smithson is Director of MLS Relations at Zillow Group, where she leads the team building their MLS data licensing and distribution platform, Bridge Interactive. Prior to joining Zillow, she spent eight years with W+R Studios as Director of Enterprise Sales and Director of MLS Services. On this episode of Listing Bits, Katie walks us through Policy Statement 8.6, explaining what problems the mandate does solve and why it's a problem to provide vendors and brokers with data in a single feed. Katie discusses the Bridge platform's current functionality and describes the new feature her team is developing to help MLSs implement 8.6, the One Data Source Solution. Listen in to understand how MLSs can use Bridge to auto-approve certain vendor agreements and find out if the One Data Source Solution is right for you. What's Discussed: How MLS Policy Statement 8.6 requires that MLSs offer participants data in a single feed The security issue with leaving it up to brokers and vendors to know what data can be used in a VOW, IDX or back-office feed What problems the new One Data Source Policy does solve How the Bridge platform alleviates pain points around data distribution for MLSs What differentiates the Bridge platform from CoreLogic's Trestle How Katie thinks about asking MLS boards to give Zillow their data (and pay for the service) How Bridge gives MLSs a simple way to combine existing data feeds for members The benefit of adding field-specific tags to MLS metadata via the Bridge One Data Source Solution How MLSs can use Bridge to auto-approve certain vendors or certain types of data access agreements Connect with Katie: Bridge Interactive Katie on Twitter Katie on LinkedIn Email: katiesm [at] zillowgroup [dot] com Resources: MLS Policy Statement 8.6 CMLS Implementation Guide—One Data Source Policy 8.6 Lone Wolf Technologies Trestle by CoreLogic Marilyn Wilson's TSA Pre-Check Concept Inman Connect Las Vegas 2022 Our Sponsor: Cloud CMA for Brokers
Our guest today has been in the real estate technology industry for twenty-eight years and has even been listed on the Swanepoel “Power 200”, a list of the most influential people in real estate. Our guest today is Greg Robertson, Co-Founder of W+R Studios, the makers of the Cloud Agent Suite. In this episode, join Greg and I as we discuss how Greg's company revolutionized CMAs and the value of agents. We also dive into what Comparative Market Analysis has become over the past thirty years and Greg's newly released first book, The Art of the CMA. Top Takeaways: Greg Robertson's Advice for New Agents “Persistence, don't quit…Showing up, doing the job, and not giving up.” “You have got to have a co-founder, someone who's with you on that journey. That helps things out a lot… No road is long with the right companion.” “I just can't see a world where brokers and agents aren't needed and needed desperately.” – Greg Robertson [26:36] “The Judo Analogy is like using its own weight against itself. If Zillow is pretty close to what you think the house is worth, well use that as a factor to boaster your own thing. If it's not, show something to say well you know what in this neighborhood it's off by 10% that's why mine is too.” – Greg Robertson [30:30] Episode Highlights: [00:32] Intro [00:59] Meet Greg Robertson – Co-Founder of W+R Studios [02:05] The Differences Between Southern California and Florida [04:36] Celebrities and Tech in the Event Production Space [08:40] Bridging the Gap for Software in Real Estate [10:40] How eNeighborhoods Led to the Start of W+R Studios [17:36] Earliest Iterations of Cloud CMA [22:41] Greg's Newly Released First Book [24:46] The Value of Agents [28:44] Zillow Zestimate Judo [30:53] W+R Studios Transition to Lone Wolf Technologies [35:04] Greg's Advice for New Agents [36:35] Connect with Greg [37:09] Outro Episode Notes: Joining us today is Greg Robertson, a software entrepreneur and Co-Founder of W+R Studios, a company known for its part in revolutionizing Comparative Market Analysis, or CMA. Originally from the Seattle, Washington, Greg Robertson moved along with family to Southern California in high school where he has spent most of his life. Greg Robertson graduated from DeVry Institute of Technology receiving a Bachelor of Science in Electronic Engineering Technology. Greg started in the event production business giving him tech experience that eventually led Greg into the real estate world. Teaming up with friends, Greg Robertson founded IRIS, launching a product called, “Lightning” which facilitated in accessing different MLS systems for a real estate professional audience. The company grew and made the Inc. 500 list for fastest growing companies in the country in 1999. The company was sold at the turn of the century and Greg Robertson moved to South Florida to help restart a company as the Vice President of eNeighborhoods. After rebuilding the company, eNeighborhoods was sold and in the middle of the real estate crisis of 2008, Greg Robertson and his partner founded W+R Studios. Cloud CMA offers a trusted and professional comparative market analysis to real estate professionals and their clients. For Greg, the value of agents in the client experience and sale is crucial and necessary for the buyer experience. Tools such as Zillow are nice to get the foundation but to have a more personal experience and knowledge of the local market will always be in demand. Greg explains that the Zillow Zestimate Judo analogy is best when using it against itself. If the Zillow Zestimate is close to what the house might be worth, it can be used to help boaster a sale. If the Zillow Zestimate is off by a percentage then that can explain the price difference as well with clients. After 12 years, W+R Studios was acquired in late November by Lone Wolf Technologies.
The November 2020 DOJ-NAR settlement requires that buyer’s agent commissions are apparent to consumers. But that transparency is just a first step in a push to divorce real estate commissions entirely. Should the other DOJ lawsuits succeed, home buyers will negotiate buy-side commissions directly with the buyer’s agent. So, what happens if the disruptors calling for these changes (like Jack Ryan) get their way? On this episode of Industry Relations, Rob and Greg discuss Sam DeBord’s passionate Tweetstorm in response to their recent interview with Jack Ryan of REX, clarifying the arguments made by both Jack and Sam and considering how transparency around buyer’s agent commissions is likely to reduce the population of agent-facilitators and drive market share to the true realtor-counselors in the space. Rob and Greg describe how a rule ending cooperation and compensation would impact the industry long-term, exploring a possible transition from a buyer’s commission to a flat fee or hourly model. Listen in for insight into the questions industry disruptors raise with regard to the role of the MLS, the brokerage, and the agent in the absence of cooperation and compensation. What’s Discussed: Lone Wolf’s acquisition of W+R Studios and how Greg & Dan are sharing $1M of the proceeds with their team Sam DeBord’s passionate Tweetstorm in response to our interview with Jack Ryan of REX What makes a real estate agent a facilitator vs. a counselor How transparency around buyer’s agent commissions could significantly reduce the agent population How Jack Ryan’s background in politics and high finance informs the way he thinks about making real estate better for consumers How the end of cooperative compensation is likely to disrupt real estate referral networks The opportunity for vendors to help buyer’s agents demonstrate their value Why Rob thinks there could be a transition from buyer’s agent commissions to a flat fee or hourly model What agents and brokers might do to take advantage of the required disclosure of buyer’s agent commissions The questions Jack Ryan’s line of attack raises re: the value prop of the MLS or the real estate brokerage in the absence of cooperation and compensation Connect with Rob and Greg: Rob’s Website Greg’s Website Resources: Lone Wolf Technologies Lone Wolf’s Acquisition of W+R Studios Greg’s Post on the Lone Wolf Acquisition Sam DeBord on Twitter Sam DeBord’s Tweetstorm on Jack Ryan Jack Ryan on Industry Relations EP055 Spencer Rascoff & Austin Allision on Industry Relations EP056 HousingWire’s Acquisition of REAL Trends Jeff Corbett’s Post on Divorcing Real Estate Commissions The NAR-DOJ Agreement on MLS Rules Buyside Biden’s Proposed First-Time Home Buyer Tax Credit Our Sponsors: Cloud Agent Suite Notorious VIP
Would you like to be the go-to agent in your community? This is exactly what we talk about in today's podcast with special guest, Greg Robertson. Greg is the co-founder and CEO of W+R Studios and the author of the new book, “The Art of the CMA”.In this interview (originally broadcast as a Facebook Live) Greg and I talk about what a winning CMA looks like, how to win the listing presentation, how to become the go-to agent in your community and more! Grab a pen and paper because this interview is chock-full of great tips from Greg and I know you will enjoy it!Additional resources: For more information and to purchase the book please visit TheArtoftheCMA.com. Bulk discounts for teams and brokers are available! Facebook Live interview with Greg Robertson Do you have ideas for topics for our podcast for 2020? Email me at katie@katielance.com Visit me at KatieLance.com for more info about my speaking, consulting and our #GetSocialSmart Academy (use the promo code PODCAST to save $30/month) Follow me on Instagram for more behind-the-scenes into my life and business @katielance (Enjoying this podcast? Tag me on IG and let me know!)
Mail-Right: Real Estate Agents Show: About Technology & Online Marketing & Getting Seller Leads
Ricardo Bueno Ricardo Bueno is the Marketing & Technology Director for West in California. He’s a house-hold name in the real estate industry with over 10+ years of experience speaking from the stage at Inman’s Real Estate Connect San Francisco and C.A.R. Expo… to working with some of the leading software companies in our industry, like Diverse Solutions and W+R Studios – the makers of Cloud CMA. Ricardo has coached thousands of real estate agents and brokers on how to successfully implement marketing strategies and technology into their business to boost their productivity. He understands the power of content strategy and online marketing, but more importantly, how it is effectively and practically implemented in everyday business. When he’s not working, he’s out enjoying a good hike or trail run, discovering new food with friends, or enjoying a refreshingly old fashioned. https://www.ricardobueno.com/type/podcast/ https://themoderndayagent.com/ricardo-bueno https://www.youtube.com/watch?v=BnJ6AyI6Wwk&t=47s
Mail-Right: Real Estate Agents Show: About Technology & Online Marketing & Getting Seller Leads
Ricardo Bueno Ricardo Bueno is the Marketing & Technology Director for West in California. He’s a house-hold name in the real estate industry with over 10+ years of experience speaking from the stage at Inman’s Real Estate Connect San Francisco and C.A.R. Expo… to working with some of the leading software companies in our industry, like Diverse Solutions and W+R Studios – the makers of Cloud CMA. Ricardo has coached thousands of real estate agents and brokers on how to successfully implement marketing strategies and technology into their business to boost their productivity. He understands the power of content strategy and online marketing, but more importantly, how it is effectively and practically implemented in everyday business. When he’s not working, he’s out enjoying a good hike or trail run, discovering new food with friends, or enjoying a refreshingly old fashioned. https://www.ricardobueno.com/type/podcast/ https://themoderndayagent.com/ricardo-bueno https://www.youtube.com/watch?v=BnJ6AyI6Wwk&t=47s
Greg Robertson is the co-founder and CEO of software company, W+R Studios. Having been in the #realestate industry for 28 years, he knows this business inside & out. On this episode of #WaterCooler, Greg joins Chris Smith & Jimmy Mackin to discuss real estate and his new book, The Art of the CMA. #WaterCooler airs every Thursday at 5pm EST on curaytor.com/live.
Every day, as part of his daily routine, Inman founder Brad Inman texts and talks with many of the most important people in the real estate industry. Now, in these unprecedented times, he's making some of those conversations public to share with you, the Inman community. Welcome to Brad Inman's Daily Dispatch with Lacey Conway, Principal Broker and President at Latter & Blum Companies, David Charron, real estate industry advisor, and Greg Robertson, co-founder of W+R Studios.
Citibank fined $30 million for holding onto foreclosures for too long Citibank was fined $30 million by federal banking regulators after an investigation found that the bank was not selling foreclosed homes back into the market fast enough. The Office of the Comptroller of the Currency announced Friday that it fined Citibank $30 million for “violations related to the holding period of other real estate owned.” Under federal banking regulations, there is a two-year limit on banks maintaining possession of a foreclosed property. The rules stipulate that banks can apply for an annual exemption that can push their ownership of a property to as much as five years. House-flipping startup Curbio expanding into 8 additional metro areas Curbio, a house-flipping startup that gives owners with homes that need renovation an alternative to selling “as is” to an iBuyer, is expanding into eight additional metro areas within the next few months. Curbio describes itself as a “renovation partner” that uses its proprietary software to plan and complete a project. Curbio handles the renovation as the licensed and insured general contractor, using technology to ensure the process is quick and cost-effective. Clients don't have to pay Curbio until the sale of their home closes. The company will be in expanding into Minneapolis, Las Vegas, Boston, Portland, Seattle, San Francisco, Los Angeles, and Charlotte within the next few months, Curbio said in a statement. It already serves Philadelphia, Baltimore, Washington D.C., Northern Virginia, Atlanta, Houston, Dallas, Chicago, Phoenix and the Florida metro areas of Orlando, Tampa, Miami and Fort Lauderdale. Opendoor partners with real estate software provider W+R Studios (Cloud CMA) to boost iBuyer reach Listing options available in Phoenix and Atlanta with plans to expand in 2020 The partnerships will specifically make use of W+R Studios' Cloud CMA, a platform that allows agents to create comparative market analysis reports, buyer tours, property reports and flyers. According to the companies, Cloud CMA creates 260,000 listing presentations per month, and Opendoor purchases a home every 24 minutes. Through the partnership, the iBuyer and software provider aim to “enhance the selling experience for more consumers.” “With the integration, agents can easily help sellers seamlessly line-up their home sale with a new home purchase—eliminating contingency risk, one of the biggest barriers to buying a new home,” Opendoor stated in a release.
“A phone call is worth a thousand emails, and a Slack channel is worth a million conversations.” RESO’s push for an industry shift from RETS to Web API makes a lot of developers nervous. You can spin your wheels for days trying to figure out how to make the new way to consume MLS data work with your application. But here’s the thing: Somebody else has probably already solved that problem. So, how do we create a platform where developers can team up to move adoption forward? How much does accessibility to the experts serve as a game-changer in the switch to Web API? Jon Druse is a Senior Developer at W+R Studios, a software company dedicated to building tools for the real estate industry. Prior to W+R, he served as a Software Engineer and Interaction Designer with Socialcast, Sleepy Giant, and Central Desktop and cut his teeth as a Senior Developer at PhishMe, Inc. Jon has 11-plus years of experience in the industry, and he was recently responsible for leading Cloud Agent Suite’s shift away from RETS, making W+R the first vendor to put Web API into production. Today, Jon explains why direct access to ‘people with answers’ was critical to his success on the project. He describes how Web API is less error-prone and requires fewer requests than RETS yet displays in the same format. Jon also discusses the minimal differences among Bridge, Trestle and Spark when it comes to replication of a data set. Listen in to understand why collaboration among developers is key in moving Web API adoption forward and learn how Jon was able to make the transition happen at W+R in just 6 months! What’s Discussed: How John set up the Web API feed in W+R’s Cloud Agent Suite Why accessibility to ‘people with answers’ was crucial to Jon’s success RESO’s push for an industry shift from RETS to Web API The intention behind RESO’s Replication Workgroup How Web API outperforms RETS in terms of time and accuracy How a common schema will solve for maintenance in Web API The 3 vendor-MLS partnerships delivering data through Web API The minimal differences among Bridge, Trestle and Spark for replication Jon’s insight around how to move Web API adoption forward How Jon taught himself to program working tech support at a high school Resources: RESO Conference Mike Wurzer & Andy Woolley on Listing Bits EP035 Al at CoreLogic on LinkedIn The Bridge API Trestle Spark API Connect with Jon: W+R Studios Email: jon@wrstudios.com Jon on LinkedIn Jon on Twitter
Katie Smithson picks her battles. Even well-meaning colleagues occasionally make insulting or offensive comments, and a professional woman has to decide what she can brush off and what she simply cannot accept. Though the lines can be blurry, nine years in the industry have taught Katie how to establish boundaries and present herself as a professional. Katie grew up in Franklin, Tennessee, and went to school at Tennessee Technological University. Discouraged by the boys’ club that was electrical engineering, she changed her plans and pursued a degree in marketing. Her first foray into sales and customer service was at a Sprint/Nextel store back in Franklin, where she saw the first MLS searches on a Blackberry. After a move to Knoxville, Katie worked in marketing for a local mortgage company that happened to use CRS Data for tax purposes. Tired of spending her days in a cubicle, she noticed an opening for a trainer at CRS. Katie won them over and secured her first job in real estate. After four years working with agents, realtors and MLS execs to implement the use of CRS products, Katie had a conversation with Greg in a lobby bar at CMLS Boston, and the rest is history. She has worked at W+R Studios for five years, serving as Director of MLS Services since 2016. Today she shares the details of her activism through the Georgia Women’s Policy Institute, the challenges for women in the real estate industry, and her advice around establishing professional boundaries. What’s Discussed: Why Katie gave up on electrical engineering to pursue a marketing degree Katie’s early sales and customer service experience at Sprint/Nextel How Katie got involved with the real estate industry Katie’s role as Director of MLS Services at W+R Studios The shift from training to sales Katie’s work with the Georgia Women’s Policy Institute - Issues affecting women, children - Get in front of legislators The challenges for women in the real estate industry How Katie establishes boundaries as a professional woman The complications of alcohol as part of industry culture How Katie’s reputation in the industry has improved her experience with sexism Katie’s advice for women coming up in the industry - Keep your head on straight - Maintain professionalism - Have a buddy The challenge of dressing appropriately for women in a business environment Katie’s recommendations around resources for sales executives Resources: CRS Data Arianna Huffington on Repeating Outfits ‘The Rock’ Test for Sexual Harassment Inc. Magazine Connect with Katie Smithson: W+R Studios Georgia Women’s Policy Institute Katie on LinkedIn
Welcome to the inaugural episode of Industry Relations, recorded live from Inman Connect NYC. Join Robert Hahn, Managing Partner of real estate consulting firm 7DS Associates, and Greg Robertson, Co-Founder of real estate software company W+R Studios, as they engage in frank discussions about current real estate industry topics. This time on the podcast, Rob and Greg debate the state of the MLS, the problematic relationship between the MLS and associations, and potential systemic changes. Listen in as these industry insiders argue the critical obstacles facing the MLS – unfiltered. What’s Discussed: Rob and Greg’s take on the problems with the current MLS system The dichotomy between low fees and great products and services The need to identify and address the MLS’s that don’t follow the rules Big brokers don’t have enough power in local communities to affect change Why MLS execs deserve much credit for the tough work they do in furthering cooperation and compensation How associations might evolve if divorced from governance of the MLS The role of politics in local MLS boards Making the MLS for-profit would eliminate those conflicts of interest Upstream’s potential to create chaos in the real estate data marketplace How emerging leaders in MLS might feel about changing to a for-profit model The broker narrative regarding the role of the MLS Resources: Upstream Connect with Rob and Greg: Rob’s Website Greg’s Website
Damien Huze is the Chief Design Officer at W+R Studios. He was born in Paris and grew up in a creative environment, watching his parents design ads on the floor of their home office. When Huze was ready to apply his own talent, the internet was just taking off. He found his medium in building websites, first for his band and then his father. Huze has known W+R co-founders Greg Robertson and Dan Woolly since the inception of the company in 2008 when they connected over a shared approach to software design. At the time, he was running a design shop called Wake Interactive where his small team did design work for tech-driven companies including Verizon, Target and even Jennifer Lopez. Huze consulted for W+R studios, designing their corporate identity and contributing to the UI/UX of their flagship product, Cloud CMA. Wake Interactive’s bread and butter was designing usable websites, but Huze eventually wanted to shift his focus to product design. When the opportunity came along to join the W+R team in 2015, he was ready to lead their rebranding effort and apply his talent to design from a product standpoint. On this episode of the podcast, Huze addresses the creative process, the benefits of creative thinking in business and how to view processes as a design task. What’s Discussed: -What the creative process entails -Generating ideas can be frustrating and ugly -The aha moment when you find a solution is addictive -Why Boulder is a best case environment for software design -The level of work happening in the field there is tremendously motivational -The potential for transformation in the real estate industry -How businesses benefit from creative thinking -Design goes beyond simply shaping the way things look -Processes are a design task, i.e.: hiring, support, etc. -How Huze approached the rebranding effort at W+R -A brand survey revealed that the name was the most valuable element of Cloud CMA’s identity -The rebrand was based on the word “cloud” and employs a very simple mark -Huze’s team developed Cloud Agent Suite with complementary products identified by color -Why continuity is the key to a polished image -An internal transformation was required for W+R to be well-managed from a brand guidelines standpoint -The changing value proposition of real estate agents -Agents continue to provide crucial representation as they assist buyers in navigating the process of putting in an offer -Agents provide local knowledge for buyers who will be joining the community -Why focusing on one aspect of an agent’s job that is underserved is the best approach to software design -A product that tries to do too much for too many people is a product that is not great at any specific thing -The best way to reign in a product manager who is adding too many features -The goal is to build a product that fixes a problem -The designer’s job is to figure out if the product manager’s assumptions are correct by asking a lot of questions (Why?) Connect with Damien Huze: @huze Instagram