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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 brings decades of experience and industry leadership as co-founder of San Francisco real estate brokerage Jackson Fuller Real Estate. Matt is a Past President of the San Francisco Association of Realtors. He currently serves as a Director for the California Association of Realtors. He currently co-hosts the San Francisco real estate podcast Escrow Out Loud. A recognized SF real estate expert, Matt has made numerous media appearances and published in a variety of media outlets. He’s a father, husband, dog-lover, and crazy exercise enthusiast. When he’s not at work you’re likely to find him at the gym or with his family.

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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

Ways to socialize safely during quarantine

(EDITORIAL) Months of isolation due to quarantine is causing loneliness for many, but joining virtual social groups from home may help fill the need for interaction.

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quarantine

Quarantining, sheltering in place, staying home. We’re tired of hearing it; we’re tired of doing it. Yet, it’s what we still need to be doing to stay safe for a while longer. All of this can be lonesome. As the days turn into weeks and weeks into months, the alone time is getting to even the most introverted among us.

Solitary confinement is considered one of the most psychologically damaging punishments a human can endure. The New Yorker reported on this in a 1992 study of prisoners in detention camps in the former Yugoslavia, as well as Vietnam veterans who experienced isolation. These studies showed that prisoners who had experienced solitary confinement demonstrated similar brain activity to those who’d suffered a severe head injury, noting that “Without sustained social interaction, the human brain may become as impaired as one that has incurred a traumatic injury.”

We aren’t meant to be solitary creatures. Your “pandemic brain” is real. That fogginess, the lack of productivity, can be attributed to many things, including anxiety, but being kept apart from other humans is a big part of it too. Be kind to yourself, give yourself grace, and join others virtually. Be it an app, a class, a Facebook group, a chat room, or a livestream, someone somewhere is out there waiting to connect with you too.

The good news? We are lucky enough to live in an era of near limitless ways to interact socially online. Sure, it is different, but it is something. It’s important. The best thing about this type of social interaction is being able to hone in on your specific interests, though I’d caution you against getting caught in an online echo chamber. Diversity of interests, personality, and opinion make for a richer experience, with opportunities for connecting and expanding your worldview.

Here are a few suggestions on ways to socialize while staying home and staying safe. Communicating with other humans is good for you, physically and mentally.

Interactive Livestreams on Twitch:

Twitch is best known as a streaming service for video game fans, but it offers multiple streams appealing to different interests. This is more than passive watching (although that is an option, too) as Twitch livestream channels also have chat rooms. Twitch is fun for people who like multi-tasking because the chat rooms for popular livestream channels can get busy with chatter.

While people watch the Twitch hosts play a video game, film a live podcast, make music or art, mix cocktails, or dance, they can comment on what they’re watching, make suggestions, ask questions, crack jokes, and get to know each other (by Twitch handle, so it is still as anonymous as you want it to be) in the chat room. The best hosts take time every so often to interact directly with the chat room questions and comments.

Many Twitch channels develop loyal followers who get to know each other, thus forming communities. I have participated in the Alamo Drafthouse Master Pancake movie mocks a few times because they are fun and local to Austin, where I live. Plus, in my non-quarantine life, I would go to Master Pancake shows live sometimes. The chat room feels familiar in a nice way. While watching online is free, you can (and totally should) tip them.

Online trivia in real time:

There are some good options for real-time online trivia, but I’m impressed with the NYC Trivia League’s model. They have trivia games online on Mondays, Wednesdays, Fridays, and Sundays. The NYC Trivia League seems to have figured out a good way to run the game live while keeping answers private from the other teams. They run games on Instagram Live with a live video of the host, and participants answer via the question feature. Clever!

Online book club:

First I have to shout out my Austin local independent bookstore, BookPeople, because they are fantastic. They run book clubs throughout the year, along with readings, book signings, and all things book-related. BookPeople hosts several online book clubs during these lockdown days, and most people will find something that appeals to them.

I’m also impressed with this list from Hugo House, a writer’s resource based out of Seattle. This list includes Instagram and Goodread book clubs, book clubs for Black women, rebels, and poetry lovers. The Financial Diet recommends the Reddit book club, if you are comfortable with the Reddit format. Please note that it’s a busy place, but if you like Reddit, you already know this.

Cooking class or virtual tasting:

This is doubly satisfying because you can follow these chefs in real time, and you end up with a meal. There are a couple on Instagram Live, such as The Culinistas or Chef Massimo Bottura.

You can also participate in virtual tastings for wine, whiskey, or chocolate, though you will have to buy the product to participate in the classes (usually held over Zoom or Facebook Live). If you are in Austin, Dallas, or Houston, I recommend BeenThere Locals. The cost of the course includes the wine, spirits, or cooking kit in most cases, and all of the money goes to the business and expert hosting the class.

Look for your favorite wine, spirits, cheese, chocolate makers, and chefs that are local to you to find a similar experience. Most either prepare the class kit for pickup or delivery within a local area.

Quarantine chat:

To interact with another quarantined person seeking social interaction, there’s Quarantine Chat. Quarantine chat is one of the ways to connect through the Dialup app, available on iOS and Android devices. Sign up to make and receive calls when you want to speak with someone. The Dialup app pairs you randomly with another person for a phone conversation, at a scheduled time, either with anyone or with someone with shared interests.

Quarantine chat takes it a step further with calls at random times. When your quarantine chat caller calls, you will not see their number (or they yours), only the “Quarantine Chat” caller ID. If you are unable to pick up when they call, they will be connected with someone else, so there is no pressure to answer. It’s nice to hear someone else’s voice, merely to talk about what you’ve been cooking or what hilarious thing your pet is doing.

Play Uno:

Uno Freak lets people set up games and play Uno online with friends or strangers. Players do not need to register or download anything to play. Uno Freak is web-based.

Talk to mental health professionals:

If your state of loneliness starts sliding toward depression, call someone you can speak to right away to talk over your concerns. When in doubt, call a trained professional! Here are a few resources:

  • National Alliance on Mental Illness (NAMI): The NAMI HelpLine can be reached Monday through Friday, 10 am–6 pm, ET, 800-950-NAMI (6264) or info@nami.org.
  • Crisis Text Line: Text HOME to this text line 24/7 for someone to text with who will also be able to refer you to other resources: U.S. and Canada: 74174, U.K. 85258, Ireland: 50808.
  • Psych Central has put together this comprehensive list of crisis intervention specialists and ways to contact them immediately.

There are many ways to connect even though we are physically apart. These are just a few real time ways to interact with others online. If you want something a little more flesh and blood, take a walk around the block or even sit in a chair in front of where you live.

Wave at people from afar, and remember that we have lots of brilliant doctors and scientists working on a way out of this. Hang in there, buddy. I’m rooting for you. I’m rooting for all of us.

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Opinion Editorials

Working remotely: Will we ever go back? (Probably not)

(OPINION / EDITORIAL) Now that the pandemic has opened the door on working remotely, there’s no way we’ll put the genie back in the bottle. But, here’s some ways you can adapt.

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Woman working remotely on her couch with a laptop on her lap.

When it comes to working remotely, will the toothpaste ever go back in the tube?

Mark Zuckerberg recently said, “We are going to be the most forward-leaning company on remote work at our scale…” By 2030, Zuckerberg anticipates that over half of Facebook’s workforce will be remote. Many other companies are jumping on the work from home bandwagon. Working remotely has helped many businesses manage the pandemic crisis, but it’s unsure what form remote working will take over the next 10 years.

We know that employees are responding positively to WFH, as reported in this article – Employers: Lacking remote work options may cause you to lose employees. As offices transition to a post-COVID normal, here are some things to consider about your office and remote work.

What does your business gain from allowing workers to WFH?
The future of remote work depends on a conscious application of WFH. It’s not just as easy as moving employees out of the office to home. You have to set up a system to manage workers, wherever they are working. The companies with good WFH cultures have set up rules and metrics to know whether it’s working for their business. You’ll need to have technology and resources that let your teams work remotely.

Can your business achieve its goals through remote work?
The pandemic may have proved the WFH model, but is this model sustainable? There are dozens of benefits to remote work. You can hire a more diverse workforce. You may save money on office space. Employees respond well to remote work. You reduce your carbon emissions.

But that can’t be your only measure of whether remote work fits into your vision for your organization. You should be looking at how employees will work remotely, but you need to consider why employees work remotely.

The work paradigm is shifting – how will you adapt?
The work environment has shifted over the past century. Remote work is here to stay, but how it fits into your company should be based on more than what employees want. You will have to work closely with managers and HR to build the WFH infrastructure that grows with your organization to support your teams.

We don’t know exactly how remote work will change over the next decade, but we do know that the workplace is being reinvented. Don’t just jump in because everyone is doing it. Make an investment in developing your WFH plan.

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Opinion Editorials

The truth about unemployment from someone who’s been through it

(EDITORIAL) Unemployment benefits aren’t what you thought they were. Here’s a first-hand experience and what you need to know.

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unemployment

Have I ever told you how I owed the government over two grand because of unemployment in 2019, and only just finished paying it back this year?

This isn’t exactly the forum for memoirs, but this is relevant to everyone. So I’ll tell y’all anyway.

It all started back in 2018 when I came into work early, microwaved my breakfast, poured coffee, and got pulled into a collaboration room to hear, “We love you and your work, April, but we’ve been bought out and you’re being laid off.”

It was kind of awkward carrying my stuff out to the car with that Jimmy Dean sandwich in my mouth.

More awkward still was the nine months of unemployment I went through afterwards. Between the fully clothed shower crying, the stream of job denial, catering to people who carried rocks in their nostrils at my part-time job (yes, ew, yes, really), and almost dying of no-health-insurance-itis, I learned a lot!

The bigger lesson though, came in the spring of the following year when I filed my taxes. I should back up for a moment and take the time to let those of you unfamiliar with unemployment in Texas in on a few things that aren’t common knowledge.

1: You’re only eligible if you were laid off. Not if you had quit. Not fired. Your former company can also choose to challenge your eligibility for benefits if they didn’t like your face on the way out. So the only way you’re 100% guaranteed to get paid in (what the state calls) “a timely manner”, is a completely amicable split.

2: Overpayments have to go back. Immediately. If there’s an error, like several thousand of Texans found out this week, the government needs that cash back before you can access any more. If you’re not watching your bank account to make sure you’re getting the exact same check each time and you have an overpayment, rest assured that mistake isn’t going to take long to correct. Unfortunately, if you spent that money unknowingly–thought you got an ‘in these uncertain times’ kinder and gentler adjustment and have 0 income, you have a problem. Tying into Coronavirus nonsense is point three!

3: There are no sick days. If ever you’re unable to work for any reason, be it a car accident, childbirth, horrible internal infection (see also no-health-insurance-itis), you are legally required to report it, and you will not be paid for any days you were incapacitated. Personally, my no-health-insurance-itis came with a bad fever and bedrest order that axed me out of my part time job AND killed my unemployment benefits for the week I spent getting my internal organs to like me again. But as it turned out, the payment denial came at the right time because–

4: Unemployment benefits are finite. Even if you choose to lie on your request forms about how hard you’re searching for work, coasting is ill-advised because once the number the state allots you runs out…it’s out. Don’t lie on your request forms, by the way. In my case, since I got cut from my part-time gig, I got a call from the Texas Workforce Commission about why my hours were short. I was able to point out where I’d reported my sickness to them and to my employer, so my unpaid week rolled over to a later request date. I continued to get paid right up until my hiring date which was also EXACTLY when my benefits ran out.

Unemployment isn’t a career, which is odd considering the fact that unemployment payments are qualified by the government as income.

Ergo, fact number five…

5: Your benefits? They’re taxed.

That’s right, you will be TAXED for not having a job.

The stereotype of the ‘lazy unemployment collector burdening society’ should be fading pretty quickly for the hitherto uninformed about now.

To bring it back to my story, I’d completely forgotten that when I filed for unemployment in the first place, I’d asked for my taxes NOT to be withheld from it–assuming that I wasn’t going to be searching for full time work for very long. I figured “Well, I’ll have a tax refund coming since I’ll get work again no problem, it’ll cancel out.”

Except, it was a problem. Because of the nine month situation.

I’d completely forgotten about it by the time I threw myself into my new job, but after doing my taxes, triple checking the laws and what I’d signed, it was clear. Somehow…despite being at my lowest point in life, I owed the highest amount in taxes, somewhere around the 2k mark.

Despite being based on a system that’s tied to how much income you were getting before, and all the frustrating “safeguards” put in place to keep payments as low and infrequent as possible, Uncle Sam still wants a bite out of the gas-station Hostess pie that is your unemployment check. And as I’m writing this, more and more people are finding that out. And even as we enter 2021, there is still more to be aware of – we’re not out of the woods yet.

I’d like to end this on a more positive note… So let’s say we’ve all been positively educated! That’s a net gain, surely.

Keep your heads up, and masked.

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