Brokers can better control their marketing choices
ListHub, a Move, Inc. company, provides Multiple Listing Services (MLSs) and real estate brokers and agents with a listing syndication platform. Today, the company gave AGBeat an exclusive sneak peek at the upcoming launch of new controls for their 43,000 broker users regarding where they syndicate their listings and what marketing choices they make.
Through the ListHub dashboard, brokers have been able to opt in or opt out of syndicating to particular real estate search sites, and recently, the company added a scorecard to each syndicator so that brokers can educate themselves on what exactly each site offers, their terms of service, and the like, and today, ListHub has added filtering through their system. Now, brokers can choose to syndicate based on filtered parameters based on how each site uses data or what practices they adhere to.
Current filters set for brokers
Brokers can query based on that criteria, so they can opt in or out of each real estate search site if, for example, a site does not display broker contact information or whether they provide metrics or not. The options include:
- No Re-Syndication
- Posts Redirect Link
- Provides Error Reports
- Provides Metrics
- Real Estate Network
- Shows Broker Contact Info
- Timely Listing Removal
- MLS Preferred
The company tells AGBeat that the list of filters will grow over time, based on feedback and demand. ListHub will also be soliciting broker ratings of each real estate search site and offering ratings and comments based on a five star system, featured next to each syndication option. All data can be sorted based on their score, which because the system is new, has few reviews, but ListHub anticipates this will grow so brokers can add their subjective thoughts on the matter.
Brokers don’t have to keep up with hundreds of changes
If a broker decides they only want to syndicate under certain conditions, they are not required to keep up with the changes at each real estate site, rather ListHub does that and will automatically add or subtract sites from the list of where brokers syndicate based on the rules the broker has set (like “do not syndicate to any site that does not show broker contact information”), and notifies the broker of the changes. This is a tremendous advantage for brokers concerned with the minutia of real estate search site updates, which are quite complex.
Otherwise, if a broker has manually selected a real estate search site to syndicate to, rather than opting in or out of one rule, ListHub notifies the broker but does not flip any switches.
Agents and MLSs
Agents are also able to log into the ListHub dashboard and review the wealth of data on these real estate search sites and their scorecards, but only brokers can make any alterations to where their data is syndicated. This could change in the future, as it appears possible that one day, this option system could apply to each individual listing rather than a broker’s entire data feed.
Additionally, MLSs are now able to log in, as opposed to just getting monthly reports, and each MLS can now mark real estate search sites as preferred. ListHub notes that the demand and response for this feature has varied wildly, as some MLSs cannot imagine marking anything as preferred, while others have reviewed the practices of all of the search sites through legal review and wish to allow their brokers to filter based on their recommendation, and are willing to do so.
The new features will roll out to all ListHub users in the next 24 hours (and Georgia later this week), and are already live in five beta markets. ListHub tells AGBeat that they wish to offer flexibility with listing data, be a point of research, and offer transparency about data distribution so brokers can better evaluate their marketing choices.
$100m reimagined convenience store startup to open 25 stores in 2022
(BUSINESS) Foxtrot is looking to redefine the convenience store as we know it. This startup is looking to make it a whole new experience.
Move over 7-11, there’s a new player in town! There’s always room for competition, even in the world of convenience stores. Yes, you read that right, Quick Trip has some serious competition from a newcomer, Foxtrot.
Foxtrot is a curated, modern convenience store offering a brisk 30-minute delivery and 5-minute pick-up. It was created by Mike LaVitola and Taylor Bloom in 2014. These stores will undoubtedly be popular in walkable areas, but also with their online ordering convenience. This modern version of a convenience store offers the combination of an upscale corner store with a digital-first e-commerce platform. Sounds pretty glorious, right?
However, the original convenience store is safe as long as people are traveling and need to stop for gas or a restroom break. If you’re from Texas, then you know and love, Buc-ee’s, the Texas-born chain. Buc-ee’s have been creating their own in-store products garnering a cult following among their customers. Still, Buc-ee’s doesn’t have an online ordering or delivery option unless it’s offered through a third party.
Foxtrot has raised $160 million in Series C funding and they are expecting to open 25 locations in many cities in 2022. There are a few different levels of funding. If a company makes it to Series C funding, they are already successful and looking to expand or develop new products per Investopedia.
According to Retail Dive, “About half of the new stores will be in Chicago, Dallas and Washington, where all of the 16 stores Foxtrot currently operates are located, LaVitola said. The tech-focused retailer is also planning to begin operations in Boston and Austin, and intends to open four or five new stores in each of those cities during the next year and a half, he said.”
Foxtrot is testing out technology equipment that would allow customers to leave the store without stopping to checkout at the counter. They plan isn’t to go entirely self-service, but as the creator LaVitola stated, “the more hours we can allocate towards sampling and storytelling and interacting with customers and less [on] tasks that don’t add on to value, like checkout, that’s great.”
Foxtrot is redefining convenience by including carefully curated products. They aim to offer local popular products as well core pantry items. They aim to make the commonly unpleasant experience of convenience stores enjoyable. Let’s hope they succeed.
What small business owners can learn from Starbucks’ new D&I strategy
(BUSINESS) Diversity and inclusion have been at the forefront of Starbucks’ mission, but now they’re shifting strategy. What can we learn from it?
Starbucks was one of many companies that promised to focus on diversity and inclusion efforts after the death of George Floyd by Minneapolis police in 2020. What sets Starbucks apart from other companies were its specific goals.
How It Started
They began with hiring targets and have now added goals in corporate and manufacturing roles. Starbucks’ plans and goals revolve around transparency for accountability. They released the annual numbers for 2021 as a way to help hold themselves accountable. The data they’ve released so far show that they’ve met nearly a third of their 2025 goals according to Retail Brew. Because of this information, we can see why they are choosing to move in the direction of manufacturing and corporate jobs. In 2021, POC’s fell to 12.5% of director-level employees from 14.3% in 2020 in manufacturing.
How It’s Going
Per Starbucks’ website stories and news, “[I]t will increase its annual spend with diverse suppliers to $1.5 billion by 2030. As part of this commitment, Starbucks will partner with other organizations to develop and grow supplier diversity excellence globally.” To put that into perspective, they spent nearly $800 million with diverse suppliers in 2021. With these moves, by 2030, it will increase by almost double.
As part of their accountability and progress, they plan to partner up with Arizona State University to give out free toolkits to entrepreneurs on fundamentals for running successful diverse-owned businesses. Another goal they’ve listed is to boost paid media representation by allocating 15 percent of the advertising budget to minority-owned and targeted media companies to reach diverse audiences.
At the heart of all this information on their goals and future plans, data transparency and accountability are what’s forcing them to look at the numbers to make specific goals. They are doing more than just throwing money at the problem, they are analyzing how they can do better and where the money will make a difference. Something that, as entrepreneurs, we should all do.
Peloton is back-pedaling: Reports of price increases, layoffs, and cost cuts
(BUSINESS) After a recording of layoffs leaks, ‘supply chain’ issues cause shipping increases, and they consult for cost-cutting, Peloton is doomed.
Is Peloton in Trouble?
According to many reports, Peloton had success early in the pandemic when gyms shut down. Offering consumers a way to connect with a community for fitness along with varying financing options allowed the company to see growth when many other industries were being shuttered.
After two years, CNBC reports that the company is “being impacted by …supply chain challenges” and rising inflation costs. According to the report, customers will be paying an additional $250 for its bike and $350 for its tread for delivery and setup.
As demand has decreased, Peloton is also considering layoffs in their sales and marketing departments, overheard in a leaked audio call. The recording details executives discussing “Project Fuel” where they plan to cut 41% of the sales and marketing teams, as well as letting go of eCommerce employees and frontline workers at 15 retail stores.
Nasdaq reported that the stock fell 75% last year, after a year where it soared over 400%.
Peloton reviewing its overall structure
According to another report from CNBC, Peloton is working with McKinsey & Company, a management consulting firm, to lower costs as revenue has dropped and the growth of new subscriptions has slowed since the pandemic. Last November, according to NPR, Peloton had “its worst day as a publicly-traded company.” It also anticipates greater losses in 2022 than originally predicted. It makes sense that the company would reexamine their strategy as the economy changes. They aren’t the only one that is raising prices amid supply chain issues.
It will be interesting to watch how Peloton fares
Peloton has a large community that pays a monthly fee for connected fitness. While growth has slowed, the company still has a strong share of consumers. Although it is facing more competition in the home fitness market and more gyms are reopening, as Peloton adjusts to the new normal, it should remain a viable company.
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