By Jessie Trapp, Marketing Coordinator & Tiana Baur, Marketing Manager
The May madness has quickly come and gone and we’re full speed ahead into the busy season. A lot happened in May. We said goodbye to Game of Thrones, hello to Pikachu, and started working on our summer bodies – but what happened in real estate? We have the scoop!
In case you missed it, here are the top five May 2019 real estate news stories to know:
1. “RE/MAX and Redfin end exclusive partnership after 2 months”
Like a summer romance, the partnership between RE/MAX and Redfin has ended almost as quickly as it started. What happened to this budding relationship, you ask? Redfin introduced a new tool that allows people without buyer’s agents to place offers online on Redfin-listed homes in Boston.
According to Inman, the RE/MAX CEO had this to say about it: “Given Redfin’s recent announcement regarding a program that would encourage buyers not to use agents on listings where the seller is represented by Redfin, we cannot continue with an official, corporate-level relationship at this time.” We’re with him on this one.
2. “CENTURY 21 Scheetz First-to-Market in Indiana to Offer Affordable Healthcare to Its Relentless Sales Professionals”
RISMedia recently published a Century 21 announcement that stated, “CENTURY 21 Scheetz has announced that it is offering affordable healthcare plans to help its 350-plus relentless sales professionals.” The plan was built specifically for real estate agents which includes 24/7/365 care, reduced healthcare costs by up to 50%, coverage for physician visits, and more.
3. “Airbnb will hand over data on 17K listings to New York City officials”
Airbnb and the Big Apple aren’t exactly getting along. In the aftermath of a subpoena that NYC issued back in February, Airbnb has finally agreed to give New York City officials data on 17,000 listings. According to Inman, “city officials specifically wanted information on Airbnb stays that lasted less than 30 days and involved entire apartments — a type of booking that is actually illegal in New York. The city also wanted data on certain Airbnb listings for private and shared rooms.”
To be continued.
4. “NAR Moves to Dismiss ‘Baseless’ Lawsuit, Hopes to Consolidate All Cases”
So, here’s the scoop: Allegedly, NAR conspired to inflate commissions by requiring all real estate agents to “make a blanket, non-negotiable offer of buyer broker compensation when listing a property on a Multiple Listing Service (MLS),” which also happens to violate federal antitrust laws. Queue lawsuit. NAR filed a motion to dismiss said lawsuit saying it was baseless and that the other side of the aisle didn’t know how real estate works. TBD on how this all plays out in court.
Read more about it here.
5. “The Amazon Effect: Prices Up, Listings Down Near Its New HQ2 in Virginia”
As pretty much every single person predicted and no one doubted, the real estate market has rapidly changed where Amazon is launching their new headquarters in Arlington, Virginia. In fact, home sales in this town have jumped 50% compared with the previous year, according to a recent realtor.com® report.
As Seattle natives, we know all too well about the “Amazon Effect.” Our advice to Arlingtoners is: get really comfortable with being in your car or on public transit and queue up those podcasts and audiobooks – you’re going to need them.
Thanks for reading and stay tuned for another #ICYMI next month!
P.S. If you’re into podcasts (and if you’re not, you should be) we have our very own! The latest episode of the REAL with MoxiWorks podcast featuring Greg Scott, VP of Branch Services at Long & Foster Real Estate, is out now. Have a listen!
By York Baur, MoxiWorks CEO
2018 is looking to be the year of the mic drop. With the LeadingRE’s Cloud announcement recently behind us, subsequently comes another. RE/MAX acquired technology company, booj, in order to future-proof their stake in the industry. First of all, congrats to booj for this epic announcement and sale, it’s what every entrepreneur dreams about. I’d also like to congratulate the other end of the deal, RE/MAX, for embracing a great technology solution for their vast number of agents.
Now, for all the existing booj customers out there that are independent brokerages…
Chances are, you might not like that your technology is now controlled by someone perceived as your competition. There’s no way to sugar coat it. You may, as a result of this, want to change out all or part of the technology you have from booj, because you don’t know that you’ll continue to get everything you need from them. However, you still need to compete.
The truth is, an open platform is the only way to future-proof your brokerage against the rapidly-evolving technology space, especially when not everyone out there can afford to make investments into technology like SoftBank, Keller Williams, and RE/MAX can. The MoxiCloud not only future-proofs your brokerage, but it also gives you the next most important thing: Choice. It allows you to plug in the tools you already love and unplug the tools you no longer want – like a power strip. MoxiCloud can help you more so than any single-source product from a franchisor.
The MoxiCloud open platform, for example, now has over 40 integrated tools and services – DocuSign, Imprev, Intuit, Buyside, Offrs, Flipt – to name a few. Our brokerage clients get to pick any and all they wish to, and all their data, tools and services live in one place, working seamlessly with their roster, brokerage assets, CRM contacts, MLS data, and more. Our cloud grows every single day, since our existing and new brokerage clients are wanting to plug in more of the great tools that already work for them, allowing them to retain their current investments. A true win-win.
In the end, our goal is very specific: Make brokerages more profitable, by making their agents more productive.
We have and always will have the backs of the brokerage. Plain and simple. And we understand the need for their existence in the future, no matter how advanced technology becomes. There will never be a greater replacement than that of the human connection and the safety one feels when working with their trusted advisor: their real estate agent.
I hope all you independent brokerages out there reading this will take it to heart and not only consider what I’m saying, but pick up the phone and call us (the number is at the bottom of our site). Maybe you want some questions answered that you feel you won’t get candid answers for elsewhere. Maybe you want some more info on the MoxiCloud. Maybe you just want to know the lay of the land in all this tech mumbo jumbo. Whichever it is, we’re happy to take your call, no strings attached.
Moxi Works is honored to have York Baur, our CEO, be recognized as an industry leader in the 2017 Swanepoel POWER 200. This is a big milestone for us as a company and we are thrilled for our fearless leader and Moxi Works team – a lot of hard work went into 2016 and we are thrilled to see it pay off!
Along with Moxi Works, many of our brilliant clients were featured on the list as well. We want to give them all a shout out – it is a privilege to work with all of these amazing people!
- Windermere Real Estate: OB Jacobi, Jill Jacobi Wood, Geoff Wood – Managing Principals
- Long & Foster Real Estate: Wesley “Wes” Foster – Chairman & CEO, and Jeff Detwiler – President & CEO, and Cindy Ariosa – SVP
- Howard Hanna: Howard “Hoddy” Hannah and Helen Hanna Casey – Chairman & CEO, and Howard “Hoby” Hanna, IV – President
- RE/MAX: David Liniger – Co-Founder, Chairman, and CEO, and Geoff Lewis – President
- Century 21 Real Estate: Rick Davidson – President & CEO
- Coldwell Banker Real Estate: Charlie Young – President & CEO
- Sotheby’s International Realty: Philip A. White, Jr. – President and CEO
- William Raveis Real Estate: Christopher “Chris” Raveis – President
- Lyon Real Estate: Pat Shea – President
Along with our wonderful clients, we also have some truly amazing partners. In fact, Moxi Works has over 30 integrated partnerships and is growing rapidly. These tools and services are leading industry players that are now being made available to Moxi Works brokerages. They use the Moxi Works platform API to exchange data and synchronize everything from roster and property data to personal records data. Not surprisingly, many of our world-class partners made the Swanepoel list with us:
- Dotloop: Austin Allison – Founder and General Manager
- Skyslope: Tyler Smith – Founder & CEO
- Imprev- Renwick Congdon – Founder & CEO
- DocuSign: Georg Gerstenfeld – General Manager of Global Real Estate Solutions
- Zillow: Spender Rascoff, CEO
- The Zillow Group: Amy Bohuntinsky – COO, and Greg Schwartz – Chief Business Offer, and Errol Samuelson – Chief Industry Development Officer, and Jeremy Wacksman – COO
- Trulia: Paul Levine – President
- LeadingRE: Pam O’Connor – President and CEO, and Paul Boomsma – President Luxury Portfolio International
Watch Cindy Ariosa, SVP from Long & Foster talk about why Moxi Works is the backbone of their brokerage.
*Photo courtesy Real Estate Trends