Who owns my data?
From Zillows ShowingTime acquisition to pocket listings, RESOs CEO Sam DeBord breaks down all the buzziest tech conversations from Inman Connect. Inman Connect took us into the final summer phase of virtual industry conferences. Were good at this now. And as Matt Consalvo and Rebecca Jensen noted, its brought us an opportunity to retake our calendars. We dont have to give that all back. The tech/multiple listing service (MLS) track is hot again. Conversations arent purely focused on the money, and the mergers and acquisitions (M&A) but the boots-on-the-ground decisions that everyone from agents to MLS executives must make. Whether its data or listings, everyones asking whats in your pocket. Brokers buy vendors. MLSs buy vendors. Vendors buy vendors. Vendors become brokers. Everyone becomes competitors, and they already have your data. And yet, they all continue collaborating to serve the same consumers. Its a very organized real estate thing when Im gonna eat your lunch, usually just turns into a potluck. But this feels different. Theres a Game of Thrones flavor to it all recently, with family loyalties and strange bedfellows forcing all to choose sides. It depends on the tower youre looking down from. As the industrys independent tech tools continue to fade into a shrinking number of multifaceted platforms, the choices for brokers may become simpler but fewer. On the other end of the spectrum, Brad Bjelke of MLS UtahRealEstate.com and MLS Aligned are looking to pull more of their tech completely into MLS ownership. Theyre building and purchasing tech tools, with the goal of providing more consistent MLS technology planning. Theres a loud rumble asking for more of this certainty. The Connect tech track always covers MLS issues, and the conversation with an eXp Realty team highlighted a strategy many companies are pursuing in a tight market: exclusive inventory. The strategy seems almost exclusively focused on the companys needs, sometimes in direct conflict with consumer needs and obligations to the broker cooperative MLS. Joe Rand sheathed his customary flaming sword of truth and instead politely pointed out that while Clear Cooperation Policy has taken on the ire of some exclusive inventory strategists, we need to answer very basic questions about agents duties to sellers. Because that wouldnt be marketing  it would be magic. Heres how it really works: Exposure delivers the best terms (price, timing, guarantees, etc. ), and the MLS provides multiple avenues to privacy, security and convenience for unique situations alongside market demand. Sellers want the best terms. Agents sometimes tell sellers what they should want. Sometimes what they tell them stinks. Studies from National Association of Realtors (NAR), California Regional Multiple Listing Service (CRMLS), and now Bright MLS make it clear that sellers who desire the best terms are materially harmed by MLS exclusion. But we know this already. It would be nice to hear more brokers join Glenn Kelman in acknowledging this. I said it a bit more brashly back in the day. This wont end well. One home, one seller, one listing agent, one buyer, one buyers agent, one appointment at 12:30 p.m. on Saturday. Our reality is millions of singular events, controlled by a very complex and messy technology space. Single vendors with closed systems have been the most common technology solutions available. But new efforts will challenge that model across all broker and MLS technology. For showings, in particular, technology companies are looking to join the successful incumbents like ShowingTime to provide more flexibility to the marketplace. Whether thats a lockbox company like SentriLocks or Supras related showing tool, an added service on a current vendor like Homesnaps platform, a new independent product, or an open API standard from the MLS space, the stated goal is consistent: choice. Multiple models for this kind of interoperability are being promoted to the industry as we speak, and RESO will be hosting a discussion to find where alignment exists. In the interest of the customers  whether sellers, buyers, agents, brokers or MLSs  the opportunity to get this right now is too important to pass up. P.S. Productivity improvements, travel savings, and family time aside, we need real conferences. Lobbycon, happy hour in Startup Alley, dinners to remember and karaoke sessions to forget: Whether we see you at RESO in Kiawah Island or Connect in Las Vegas, its going to be a restart to remember. Be well. Sam DeBord is CEO of Real Estate Standards Organization (RESO). He has served as the National Association of Realtors Presidents Liaison for MLS and Data Management, President of Seattle King County REALTORS, and Managing Broker for Coldwell Banker Danforth.