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Opinion Editorials

The challenge of doing business in an archaic industry

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Don’t Judge a Realtor by the company they keep

I don’t know about you, but access to my MLS is governed by my local Realtor association. So when I wanted to become a Real Estate Agent, I had to join my local board. And joining my local board meant that I was also joining my state association and the National Association of Realtors. Board membership is mandatory to be an MLS participant. MLS participation is mandatory to have a successful real estate career. Joining my board was a business decision, not a political one.

There’s the business of real estate: the hustle for clients, the unpredictable (yet flexible) hours, the commission based income, the interesting people and fascinating homes. Then there’s the politics of real estate: the numerous MLS fiefdoms, IDX policies, data aggregation and syndication, and, national, state, and local association rules, to name a few.

Why join the board

Most agents that I know are like me, and joined the board because they had to. It was a business decision. This may explain why so many agents I know go out of their way to avoid the politics of real estate. Ask most agents for their position on IDX rules, data aggregation and syndication policies, and you’re likely to get a blank stare. Not because agents are stupid or short-sighted, but simply because agents focus on what they feel they can control, and most agents I know feel extremely disconnected from the decisions being made on their behalf at the local, state and national level.

Speaking quite frankly, I feel that many local boards have spent the last few years advocating policies that will perpetuate their existence, regardless of if the policy is good for their members or real estate consumers. For many agents there is an enormous disconnect between their day-to-day business practices and the policies adopted by our local, state, and national Realtor Associations.

As an example, let’s take the continued existence of almost 1,000 MLS systems across America. If you can look me in the eyes with a straight face and tell me that the real estate industry is better off with hundreds of local MLS systems rather than one (or a few) national systems, then I’m going to bet you’re a local MLS or association executive.

Consumers don’t think they should have to know that as soon as they cross a county line they need to start searching a different website for home listings. They want to go to one place, type in any address in America, and find out what’s for sale nearby and how the market is doing. Don’t believe me? Go visit Zillow. Or Trulia. Or even Realtor.com.

The evolution of the MLS

Our patchwork of MLS organizations developed in an era when cooperative listing information was shared on paper index cards updated weekly by a clerk at a local office. The clerk has long since retired (and perhaps died), the index cards have been relegated to the novelty drawer and yet we still have hundreds of little MLS systems across the nation. The logic for their existence is long gone, we should help them die a graceful death.

While I don’t have an issue with one (or several) national MLS systems, I think the real estate industry – at a minimum – needs to get serious and make 50 statewide MLS systems (each adapted to their own unique state laws about real estate) a reality. Because if our associations don’t make this a reality, some plucky entrepreneur will make it happen, either with or without our help.

The presence of hundreds of MLS systems when a few could accomplish the same task is indicative of the challenges that associations have created for their members. Associations, when faced with an onslaught of change, have – for the most part – each hunkered down and done everything they could to protect their little island of real estate data. In my area, for example, it has taken more than three years for seven local associations to agree to lockbox key interoperability. For comparison, Apple transformed computing with the introduction of the iPad in less time than seven associations could agree to share keys.

The conundrum

It’s a conundrum that I can’t quite wrap my head around: some of the most entrepreneurial, dynamic, and interesting people I’ve ever met are fellow real estate agents. But all of these individuals are doing business in one of the most rigid and archaic business frameworks I’ve ever encountered. I’d really love to hear what your thoughts are about how agents can help the real estate industry give itself a long overdue remodel?

Matt Fuller, GRI spends most of his waking hours obsessing over all things San Francisco real estate. He is half of the successful JacksonFuller real estate team, and also writes at the San Francisco real estate blog about all things SF. He is also a father, husband, foodie, avid runner, and slave to his Newfoundland and Basset Hound dogs.

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9 Comments

9 Comments

  1. Jeff Brown

    February 18, 2012 at 1:14 pm

    Hey Matt — Out of 1,000 home buyers, how many would you estimate are looking for their new home in an area larger than 5-20 square miles? Thanks

  2. Glenn Ashby

    February 18, 2012 at 1:54 pm

    Get rid of all referral networks. Agent to Agent is fine, but 37.5% for someone to pull a name out of a hat is not doing the consumer a service. It is nearly extortion.

  3. Ed Neuhaus

    February 18, 2012 at 2:52 pm

    I think this world be great. I know people already working on it.

  4. Karen Brewer

    February 18, 2012 at 5:07 pm

    OMG….youre talking about my life. I am now on the Board of the hyperlocal Board and it is astonishing to me howmuch people want these things to stay the same. In my case, the MLS adds NO value since we are officially dominated by a larger MLS in the state.Most of the budget (membership $ just goes to perpetuating the existence of the board.Amazing.

  5. Russell Shaw

    February 18, 2012 at 9:56 pm

    We already have several "national" methods the public can search for properties. I have never seen a national MLS as a Realtor or a public benefit. To the contrary, a national MLS or even 50 state wide MLS systems is just asking some DOJ lawyer to attempt to nationalize the entire system. All the little MLS systems are our best defense against such crap.

    To suggest that the committees at the state or national level are somehow possessed of better insight or judgement does not seem to be supported by the facts. Just look at the silly set up NAR gave Realtor.com or the latest piece of pretty much useless crap – RPR. I don't do a lot of my business out of my area. Neither does anyone else who is actually in the real estate business.

    In California it is beyond me why an agent in the Bay Area needs access to data for Los Angles. I don't believe a Los Angles broker is competent to advise a buyer or a seller about buying or selling a home in San Francisco.

    • Jeff Brown

      February 19, 2012 at 4:00 pm

      Hey Russell — I've been sayin' the same thing for a few years now. Also, notice nobody's stepped up to the plate to answer my first question here. The reason is cuz I suspect the answer proves your point.

  6. Eric Estate

    February 19, 2012 at 9:36 am

    I'm just a student, but coming into this system with a pair of fresh eyes to the situation. There is absolutely NO need for any MLS system at all. If an agent were to just post their listing on their own website, search enginges like Google or Bing could easily index them, nationwide.
    This would also separate out the best agents because they would have the most popular sites, with the best, most up to date info on their listings.

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Opinion Editorials

3 things to do if you *really* want to be an ally to women in tech

(EDITORIAL) Diversity is known to strengthen the overall performance of a company and its teams, and there are a number of ways you can be an ally to the talented women already on your workforce.

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More and more women are leaving their positions with tech companies, citing lack of opportunity for advancement, wage gaps and even hostile working conditions as some of the reasons why.

What’s better for the tech industry and its employees than cultivating inclusive and diverse departments? Diversity is known to strengthen the overall performance of a company and its teams, and there are a number of ways you can be an ally to the talented women already on your workforce. To name a few:

1. Be open to listening to different perspectives.

It can be awkward to hear so many reports of workplace politics stacking against women, especially if you’re not a woman!

Instead of getting uncomfortable or defensive – ask open ended questions and be interested in a perspective that isn’t yours and may be unfamiliar.

Don’t seek to rationalize or explain the experiences you’re hearing about, as that can come off as condescending. It’s common for women to be interrupted or spoken over in team gatherings. If you notice this happening, bring the conversation back to where the interruption began. Offering your ear and counting yourself as responsible for making space will improve the overall quality of communication in your company.

Listening to and validating what women have to say about the quality of their employment with a company is an important step in the right direction.

Expressing something as simple as “I was interested in what you had to say – could you elaborate on your thought?” can help.

2. Develop an Employee Resource Group (ERG) program.

An ERG is a volunteer-based, employee-led group that acts as a resource for a particular group of employees. An ERG can help to foster inclusiveness through discussion, team-building activities and events. It’s common for a department to have only one or two women on the roster.

This can mean that the day to day feels disconnected from concerns commonly shared by women. disjointed it might feel to be on a high performing team, without access to relatable conversations.

3. Be responsible for your company’s culture.

Chances are, your company already has some amazing cultural values in place. That said, how often are you checking your own performance and your co-workers performances against those high standards? Strong company culture and values sound great, but whether or not they’re adhered to can make or break the mood of a work environment.

Many women say they’ve experienced extremely damaging and toxic cultural environments, which lead to hostility, frustration, and even harassment. Take action when you see the new woman uncomfortable with being hit on at team drinks.

Call out those who make unfriendly and uncouth comments about how women perform, look, or behave.

Setting a personal threshold for these kinds of microaggressions can help you lead by example, and will help build a trustworthy allyship.

(This article was first published here in November, 2016.)

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Opinion Editorials

Serial procrastinator? Your issue isn’t time management

(EDITORIAL) Need a hack for your time management? Try focusing on your energy management.

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Your author has a confession to make; as a “type B” personality who has always struggled with procrastination, I am endlessly fascinated by the topic of productivity and “hacking your time.”

I’ve tried most of the tricks you’ve read about, with varying degrees of success.

Recently, publishers like BBC have begun to approach productivity from a different perspective; rather than packing days full of to-do items as a way to maximize time, the key is to maximize your mental energy through a different brand of time management.

So, why doesn’t time management work?

For starters, not all work time is quality time by nature. According to a study published at ScienceDirect, your average worker is interrupted 87 times a day on the job. For an 8-hour day, that’s almost 11 times per hour. No wonder it’s so hard to stay focused!

Second, time management implies a need to fill time in order to maximize it.

It’s the difference between “being busy” and “being productive.”

It also doesn’t impress your boss; a Boston University study concluded that “managers could not tell the difference between employees who actually worked 80 hours a week and those who just pretended to.” By contrast, managing your energy lets you maximize your time based on how it fits with your mental state.

Now, how do you manage your energy?

First, understand and protect the time that should actually go into deep, focused work. Studies continually show that just a few hours of focused worked yield the greatest results; try to put in longer hours behind that, and you’ll see diminishing returns. There’s a couple ways you can accomplish this.

You can block off time in your day dedicated to focused work, and guard the time as if it were a meeting. You could also physically retreat to a private space in order to work on a task.

Building in flexibility is another key to managing your energy. The BBC article references a 1980s study that divided students into two groups; one group planned out monthly goals, while the other group planned out daily goals and activities. The study found the monthly planners accomplished more of their goals, because the students focusing on detailed daily plans often found them foiled by the unexpected.

Moral of the story?

Don’t lock in your schedule too tightly; leave space for the unexpected.

Finally, you should consider making time for rest, a fact reiterated often by the BBC article. You’ve probably heard the advice before that taking 17 minute breaks for every 52 minutes worked is important, and studies continue to show that it is. However, rest also includes taking the time to turn your brain off of work mode entirely.

The BBC article quotes associated professor of psychiatry Srini Pillay as saying that, “[people] need to use both the focus ad unfocus circuits in the brain,” in order to be fully productive. High achievers like Serena Williams, Warren Buffet and Bill Gates build this into their mentality and their practice.

Embracing rest and unfocused thinking may be key to “embracing the slumps,” as the BBC article puts it.

In conclusion, by leaving some flexibility in your schedule and listening to your body and mind, you can better tailor your day to your mental state and match your brainpower to the appropriate task. As someone who is tempted to keep a busy to-do list myself, I am excited to reevaluate and improve my own approach. Maybe you should revisit your own systems as well.

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Opinion Editorials

How the Bullet Journal method has been hijacked and twisted

(EDITORIAL) I’m a big fan of the Bullet Journal method, but sticker-loving tweens have hijacked the movement. Worry not, I’m still using black and white bullet points with work tasks (not “pet cat,” or “smile more”).

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It’s taken me some time to come around to the Bullet Journal method, because it took me some time to fully understand it (I have a tendency to overthink simplicity). Now that I understand the use, I find it very beneficial for my life and my appreciation for pen-to-paper.

In short, it’s a quick and simple system for organization tasks and staying focused with everything you have going on. All you need to employ this method is a journal with graph or dotted paper, and a pen. Easy.

However, there seems to be this odd truth that: we find ways to simplify complicated things, and we find ways to complicate simple things. The latter is exactly what’s happened with the Bullet Journal method, thanks to creative people who show the rest of us up.

To understand what I’m talking about, open up Instagram (or Pinterest, or even Google) and just search “bullet journal.” You’ll soon find post after post of frilly, sticker-filled, calligraphy-laden journal pages.

The simple method of writing down bullets of tasks has been hijacked to become a competitive art form.

Don’t get me wrong, I like looking at this stuff because I dig the creativity. But, do I have time to do that myself? No! For honesty’s sake, I’ve tried just for fun and it takes too much damn time.

With this is mind, this new-found method of Bullet Journaling as an art is something that: a) defeats the purpose of accomplishing tasks quickly as you’re setting yourself back with the nifty art, and b) entrepreneurs, freelancers, executives, or anyone busy would not have time for.

Most of these people posting artistic Bullet Journal pages on Instagram are younger and have more time on their hands (and if you want to spend your time doing that, do you, man).

But, it goes against the simplistic method of Bullet Journaling. The intent of the method.

And, beneath the washi tape, stickers, and different colored pens, usually lies a list of: put away laundry, feed cat, post on Insta. So, this is being done more for the sake of art than for employing the method.

Again, I’m all for art and for people following their passions and creativities, but it stands to reason that this should be something separate from the concept of Bullet Journaling, as it has become a caricature of the original method.

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