Connect with us

Real Estate Corporate

Broker Public Portal (BPP) takes another step forward, elects executive committee

The Broker Public Portal initiative continues to move forward in a climate of strong opposition and support.

Published

on

broker public portal

Working towards launching a national broker/MLS consumer-facing website, Broker Public Portal (BPP) has announced today that they’ve elected an executive committee comprising of leaders from large, medium, and small firms, as well as MLS execs.

First made public in January, the BPP project is funded by brokerages and MLSs who contributed $5,000 each to cover startup expenses and “gauge interest in the project,” which reached their fundraising goal of $250K in the first ten weeks.

Executive Committee elected

According to a statement, the first Executive Committee is as follows:

  • Chairman: Merle Whitehead, CEO Realty USA
  • Vice Chairman: John Mosey, CEO NorthstarMLS
  • Secretary: Craig McClelland, Director Metro Brokers
  • Treasurer: Paul Wells, CEO RE/MAX Barrington
  • At Large: Cameron Paine, CEO Connecticut MLS
  • At Large: Chris Heller, CEO Keller Williams Realty

“It’s an honor to contribute to this vital initiative,” said Whitehead. “The resolve to introduce a new type of property search portal for consumers has never been stronger. Now that we have our new Board of Managers and Executive Committee in place, the talented team can advance the portal project.”

Mosey opined, “It is a great example of how MLS’s and the broker community can work together to bring some balance back to the industry such that brokers have a new choice in how and where to display their listings. Moreover, consumers will now have a direct pipeline to the same kind of quality property information that their agents experience everyday when they sign on to their MLS.”

The BPP Board of Managers

Nominations for the Executive Committee were drawn from the roster of the Board of Managers and duly elected by members of the board. Below is the full list of the Board of Managers:

Large Firms
Joan Docktor – Fox and Roach
Hoby Hanna – Howard Hanna Real Estate
Chris Heller – Keller Williams
Robert Moline – HomeServices of America
Merle Whitehead – Realty USA

Midsized Firms
Richard Haase – Latter and Blum
Craig McCelland – BHGRE Metro Brokers
Dreyton Saunders – Michael Saunders

Small Firms
Christina Ishabishi Bonner – Pacific Union
Mitch Ribeck – Tropical Realty
Paul Wells – RE/MAX Barrington

MLSs
Rebecca Jensen – Midwest Real Estate Data
John Mosey – NorthstarMLS
Cameron Paine – Connecticut MLS
Kirby Slunaker – REcolorado

Many questions remain regarding the initiative, as does support and criticism, but BPP has been in the works for many years, and seeks to empower brokers. Today’s announcement advances their project, so we will continue watching their efforts.

Lani is the Chief Operating Officer at The Real Daily and sister news outlet, The American Genius, and has been named in the Inman 100 Most Influential Real Estate Leaders several times, co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

Real Estate Corporate

Really, Zillow, ANOTHER patent? This time, a presentation quibble

(REAL ESTATE CORPORATE) We’d like to say we’re surprised, but we also just are not as Zillow grabs another patent, further limiting small business innovation.

Published

on

Open moving boxes affected by Zillow patents

Alright, Zillow, I guess we’re doing this again.

Zillow, an acclaimed real estate website and patent hoarder of the first degree, has claimed yet another patent to add to their ever-growing list. We’d feign outrage, but at this point, it’s just redundant.

The patent in question relates to the presentation of information regarding a house or property. More specifically, the patent addresses the way that information is formatted. Should the image contain “a primary pane and at least two secondary panes to simultaneously display at least three types of information about the interior of the house in a coordinated manner”—you know, like every site ever—Zillow technically holds the patent for that style of presentation.

The way in which a user navigates through the aforementioned information is also mentioned in the patent. According to the patent information, if one must use “multiple user-selectable controls that modify information shown in the displayed GUI” to move through the photos or videos listed in the patented panes, that technically falls under the domain of the patent itself.

In theory, this doesn’t sound terrible; however, so many sites present information using the “pane” layout, and virtually every site that does so also uses arrows or other visual indicators—or, to use the patent language, “multiple user-selectable controls”—to navigate through that information.

We’ve spoken at length about how Zillow’s patent behavior is ruthless and, at times, bordering on maniacal. The sheer number of patents Zillow has accrued even in the last few years is astounding, and they all share one crucial commonality: Their application to competitors.

The implications of a company being able to scoop up patents left and right like this are frightening. Real estate isn’t exactly an easy enterprise to break into, and Zillow appears to be doing their damnedest to ensure that it stays that way by preventing smaller businesses from using objectively intuitive ways to show properties.

Worse still, these patent grabs are occurring during a period of time in which safe, remote presentation of information has never been more critical. To say that this is a flagrant abuse of patent law would be an understatement. Simply put, this kind of behavior is unethical, unwarranted, and—apparently—unpunished.

Continue Reading

Real Estate Corporate

Huh, Amazon just bought a hotel… but why?

(REAL ESTATE CORPORATE) Amazon is everywhere, and now they are a new owner of a Residence Inn hotel by Marriott in Arlington, Virginia. But for what purpose?

Published

on

Open hotel door, is Amazon getting into hotel hospitality?

Amazon is everywhere these days. It is a delivery service that offers free two-day shipping with Amazon Prime. It is a grocery store with its food delivery service, Amazon Fresh. It is a television and film producer and distributor through the company’s Amazon Studios. And now, is it a hotel?

The giant e-commerce company has recently purchased the Residence Inn by Marriott near its second North American headquarters (HQ2) in Arlington, Virginia. But, no need to fret, Amazon isn’t going to be a hotel chain any time soon… yet. However, the company has tried steering in that direction already with Alexa for Hospitality, which offers a voice control system for hotels.

This hotel is part of the 11.6-acre development expansion in PenPlace — Arlington County’s largest undeveloped lot. But, the hotel isn’t what Amazon is interested in. The location is. According to an Amazon spokesperson, the hotel will be demolished. Even though it doesn’t need to be removed for development to continue, it’s still going to be taken down. With it gone, Amazon will be able to “maximize its new space and create a cohesive employee campus that aligns with its vision.” According to Forbes, Amazon has committed to employing 25,000 people by 2030. So, it’s going to need to maximize that space to fit everyone in it.

And, this expansion comes with a $148.5 million price tag. Acorn Development LLC, a subsidiary of Amazon, from Blackstone Group LP made the purchase back in September this year. In July of 2019, Blackstone had purchased the property for only $99.1 million. By Amazon purchasing the property, Blackstone profited almost $50 million.

With the hospitality industry being hit so hard by the pandemic, will other companies follow Amazon’s lead? Will they see hotels as an opportunity to acquire a good amount of space for a sweeter price with the added bonus of not having to deal with the landlords?

In a statement, Frank Cohen, chairman and CEO of Blackstone’s non-traded real estate investment trust, said, “This sale illustrates our ability to generate value for our investors by identifying attractive real estate assets in desirable locations. We will continue to invest in assets where we have high conviction and selectively sell where we see compelling pricing.”

While this all makes sense, I’m not so sure if buying hotels is going to be something all companies will shift to. In this case, the Residence Inn in Pentagon City that Amazon purchased helped the company secure control over an entire 11-acre square block in PenPlace. So, Amazon’s decision is not based on the hotel. Instead, it is based on how purchasing that hotel property is going to help them achieve its HQ2 plans.

However, hotels as real estate could be a benefit for struggling hotels. Hotels who might not be able to sail through this storm could try to get as much as they can. And investors, maybe they could make a profit like Blackstone.

Continue Reading

Real Estate Corporate

STOP giving Zillow your ad money, listing data – today, they’re a competing brokerage

(REAL ESTATE) We’ve warned of this for years, the industry funded it, and Zillow Homes brokerage has launched, and there are serious questions at hand.

Published

on

zillow group

Zillow Homes was announced today, a Zillow licensed brokerage that will be fully operational in 2021 in Phoenix, Tucson, and Atlanta.

Whoa, big huge yawn-inducing shocker, y’all.

We’ve been warning for more than a decade that this was the end game, and the company blackballed us for our screams (and other criticisms, despite praise when merited here and there).

Blog posts were penned in fiery effigy calling naysayers like us stupid and paranoid.

Well color me unsurprised that the clarity of the gameplan was clear as day all along over here, and the paid talking heads sent out to astroturf, gaslight, and threaten us are now all quiet.

They figuratively swore on their collective dead grandmothers’ graves that they’d never ever EVER ever ever practice real estate, but they’ve openly inched closer and closer to that status, with today marking the official date that no human can make that pinkie promise ever again.

Years ago, they began acquiring startups that pointed to this end game. Then they promised they were seeking brokers licenses across the nation so their operations and referral partnerships were more legit and they could do more than just soak up your ad budgets like an unworthy, moldy sponge, they could panhandle for your referral fees and inhale MLS feeds created by Realtors.

Fast forward to today, and they’re literally a traditional real estate brokerage.

Your ad dollars funded this.

Yawn. BUT…

How can anyone defend sending their listing data to Zillow? I mean they did swear on their dead grammy that they’d remain an entertainment media/search site in perpetuity.

How can any broker defend pouring ad money into a competitor? If you’re a KW broker, do you spend $10K to advertise on Coldwell Bankers’ main site or C21’s portal? OF COURSE NOT BECAUSE YOU HAVE A BRAIN. One that can read, write, and reason.

So why then would Zillow remain part of your marketing strategy now that they’ve pulled the final band aid off of the mound of band aids masking their subterfuge of your business?

Let’s say I haven’t convinced you because you like their logo, you think their leadership is geeky chic and you want to be like them. Okay, let’s watch the launch video together:

Such script. Much wow.

If you had “reimagine,” “innovation,” “streamline,” and “raising the bar” on your Real Estate Bullshit Buzzwords Bingo card, you win the chance to do one whole eyeroll, and I mean a really dramatic one. Go ahead, I’ll wait…

I want to be upset by this, but we’ve watched this ultimate trainwreck in super slow motion, so their explanation of the “hand off” being “confusing” as their inspiration is just laugh worthy. And sadly, expected.

What if your worry is that these big boys will use your data to find the “best” agents? Don’t worry, they swear again on their grammys’ graves that they won’t use their massive data to pinpoint talent and recruit agents from other brokerages, they’ll only use current employees and get ’em licensed up to stand “shoulder to shoulder” with you in your business. They can’t even come up with their own model, they’ve lifted yours and Redfin’s model. Oooh, innovative.

There’s no surprise in today’s news, but the excuses and delivery are overwhelmingly nauseating.

But hey, at least they no longer have to pretend that they took your money and data all of these years to benefit their eventual brokerage launch.

Next up, we’ll explain what this has to do with Zillow’s patent spree and how it will inevitably and irreversibly damage the real estate industry (these people really are evil geniuses, you’ve gotta give it to ’em).

Continue Reading
Advertisement

Our Partners

Get The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox!

Still Trending

Get The American Genius
in your inbox

subscribe and get news and exclusive content to your email inbox