Michael Flight

MLSs Will Evolve With Consumer, Broker Needs in Mind Most MLSs rapidly adopted the residential real estate practice changes ahead of the implementation deadline. But how are they continuing to evolve to meet the needs of the industry and the public in this new landscape? That question generated a lot of buzz at NAR NXT: The REALTOR® Experience in Boston earlier this month. In various forums, MLS executives, brokers and attorneys discussed the challenges of data sharing and privacy, how MLSs communicate their value, and how individual players will fare through the continuing disruption taking place in real estate. An Efficient Marketplace Although the panelists at a Nov. 9 discussion entitled “The Future of the MLS” brought a range of views, none wanted to contemplate transacting real estate in a world without MLSs. “If MLSs didn’t exist, we’d have a very fractured market,” said Art Carter, CEO of the California Regional MLS, with more than 100,000 users. “If we didn’t have [MLSs], we would invent one,” said Errol Samuelson, chief industry development officer for Zillow. He spelled out the intrinsic values of MLSs: namely, that MLSs give sellers maximum exposure for their home and a source for strategic pricing information; they give buyers equitable access to homes on the market; and they give real estate professionals and policymakers an authoritative source of timely, accurate data. Those who compare the experience of U.S. consumers to those of other countries often fail to understand the costs and barriers that exist in other places, Samuelson said. “[People] compare home sales [in the U.S.] to how they’re done in Australia, but Australia is a … subpar experience. … It’s cheaper to transact in the U.S. than in Australia, because we have a very efficient marketplace.” “I do believe in a strong MLS,” Reffkin said. “In New York City, where there is not a strong MLS, cleaning the data costs more money than in every other MLS combined. If every MLS were the same as New York, it would sink brokers.” In years past, the industry often referred to MLSs as the source for cooperation and compensation information. Referring to the rule that REALTOR® association–operated MLSs may no longer show offers of compensation for buyer’s agents, Donnellan asked the panelists whether MLSs could survive with offers of compensation removed. In answer, Carter pointed to research conducted by CRMLS. “We asked brokers what they valued most in the MLS. There was not one mention at that time of compensation being listed as key,” he said. “It was the transparent marketplace and the accuracy of the data.” “What matters is that it’s accurate and fairly presented. [For example], I can’t pay more to bump my listing to the top,“ said Lovett-Menkiti. Her agents are adapting to the practice changes—and are getting paid, she said. “Our agents work very collaboratively across different brands when they need to get information.” - nar.realtor

1

Webinar Replay and Slides: How Real Estate Developers Price The Dirt: Residual Land Valuation and Comparables 🏗️ Understanding how real estate developers price land is crucial for accurate property valuation and investment decisions. Our latest article, How Real Estate Developers Price the Dirt: Residual Land Valuation and Comparables, delves into the methodologies used to determine land value through residual land valuation and comparables analysis. Enhance your knowledge of land pricing strategies and gain insights into the factors influencing these valuations. 🔗 Read the full article here - https://lnkd.in/en_f-RxZ #RealEstateDevelopment #LandValuation #PropertyInvestment #ValuationMethods #GetREFM

2

Ever wonder how to truly optimize your multifamily investments? Join us for an exclusive glimpse into our latest podcast episode featuring Andy McQuade. Discover the game-changing TCO Method that’s shifting investment strategies from initial costs to the lowest Total Cost of Ownership. Imagine boosting your annual Net Operating Income by $6.2M and adding $98M in asset value. That’s what Andy’s clients have achieved—and now you can too. #InvestSmart #WealthBuilding #AlternativeInvestments #JKAMInvestments #MultifamilySuccess

5

1 Comment

Preparing for real estate interviews? 🏢 Discover essential research tips and insightful questions to ask in this video! 🔍 ----- Looking for guidance? ✅ Join the WSO Academy waitlist and gain valuable tips from our mentors 👉 https://lnkd.in/gN9yH8gM #realestate #privateequity #wallstreet

2

An exceptionally thought-provoking analysis on how this VC views the NAR settlement ruling as a pivotal force for transformation, especially regarding how technology will streamline and reduce costs in the real estate purchasing process, thereby making homeownership more affordable. Do more for less and #buildwithbildhive #PropTech #RealEstate #PreConstructionRealEstate

7

Fix-and-flip projects can be highly profitable, but they require careful planning, execution, and management. At Dynamo Capital, we understand the challenges and opportunities that come with these real estate ventures. Here are some top strategies to...

8

1 Comment

Great post and perspective from Logan D. Freeman. I had to repost and open my big mouth on why the #officeapocalypse is just as real and just as big as last cycle's #retailapocalypse. Here's the rundown.... Office is playing out eerily similar to Malls during the GFC in terms of demand, costs, recovery, write-downs, etc. We're in the early stage, 3rd inning IMO, of a trifurcation of office assets wherein, roughly: - 1/3 of assets are effectively obsolete and worth salvage value - 1/3 will perpetually operate in the black (Zombie offices) - 1/3 will continue to kick ass and make $$$ To Logan's point $2T in losses is a drop in the bucket at surface level. However, diving deeper into capital markets- leverage, bank concentration ratios, CECL, ALLL & reserves, carry/stabilization costs, deposit costs, yield curves, IRRs, etc.- a mere $2T in levered losses REALLY jams up the economic engine like 20% diesel in an F-35. The good news is with a little bit of luck, and some great #loansales, we'll get through this bigger, better and bolder than ever, but that could also be my eternal optimism speaking. What do you think???

17

12 Comments

There are four crucial elements of forming successful partnerships in startups. Wanna learn what they are? Check out the full interview with Cody Sperber, a top real estate investor and serial entrepreneur, to learn more about smart partnership practices! 👉 https://lnkd.in/gm6rag7T #investingintheus #reedgoossens #realestateinvesting #realestate #realestateinvestor #realestatemarket #codysperber #realestatetips #wholesaling #partnership #partnerships

3

1 Comment

"𝘐 𝘸𝘢𝘴 𝘢 𝘩𝘪𝘨𝘩 𝘴𝘤𝘩𝘰𝘰𝘭 𝘥𝘳𝘰𝘱𝘰𝘶𝘵, 𝘣𝘶𝘵 𝘐 𝘧𝘪𝘨𝘶𝘳𝘦𝘥 𝘰𝘶𝘵 𝘢𝘤𝘤𝘰𝘶𝘯𝘵𝘪𝘯𝘨 𝘣𝘺 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘢 𝘤𝘰𝘶𝘱𝘭𝘦 𝘰𝘧 𝘣𝘰𝘰𝘬𝘴 𝘢𝘯𝘥 𝘱𝘶𝘵𝘵𝘪𝘯𝘨 𝘵𝘩𝘦 𝘦𝘯𝘵𝘪𝘳𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘺 𝘰𝘯𝘵𝘰 𝘢𝘯 𝘢𝘤𝘤𝘰𝘶𝘯𝘵𝘪𝘯𝘨 𝘴𝘺𝘴𝘵𝘦𝘮. 𝘞𝘩𝘢𝘵𝘦𝘷𝘦𝘳 𝘱𝘳𝘰𝘣𝘭𝘦𝘮𝘴 𝘤𝘢𝘮𝘦 𝘶𝘱, 𝘐 𝘸𝘢𝘴 𝘥𝘦𝘵𝘦𝘳𝘮𝘪𝘯𝘦𝘥 𝘵𝘰 𝘧𝘪𝘹 𝘵𝘩𝘦𝘮." Ken Doble, Partner at Quantitive Realty Capital. On the Multifamily Chronicles Podcast, we discussed the importance of adaptability and the power of self-learning. When this company only had three apartment complexes, everything was done manually—payroll, accounting, even writing checks. By leveraging technology, even in its early days, Ken was able to streamline operations and solve complex problems. This story is a powerful reminder: the more you learn, the better equipped you are to tackle any challenge that comes your way. Check out more insights from this inspiring journey in the link below. 👇

6

1 Comment

In this video, Patrick Voltapetti walks you through the essential steps to accurately calculate the value of commercial real estate. Whether you're a beginner investor or an experienced professional, understanding how to assess property value is critical for making informed decisions. We'll cover key concepts like Net Operating Income (NOI), Cap Rates, and other industry-standard valuation methods. Join us as we break down complex financial calculations into simple, easy-to-understand steps. Don't forget to subscribe for more expert tips on real estate investing! Pinnacle One Capital Group #CommercialRealEstate #RealEstateInvesting #PropertyValuation #CapRate #NOI

3

The surge in single-family rental property construction reflects the evolving preferences of renters, particularly millennials seeking spacious homes without the commitment of ownership. This trend, driven by high home prices and mortgage rates, has sparked interest from institutional investors, leading to a significant increase in build-to-rent housing. The Sunbelt states, especially Texas, Arizona, and Florida, are hotspots for this activity, with metro areas like Phoenix and Dallas witnessing substantial growth. For investors looking to capitalize on this trend, options include building single-family rentals, developing rental communities, joining private equity funds, participating in real estate crowdfunding, or investing in REITs. Read the full article here 🔗 https://lnkd.in/g42P_b4E . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions

2

Developer Pressure Points: Part of or wide ranging discussion on stage with Zachary at the #AxeCapital event. What I have seen is: as developers take that leap from running one or two projects to running many is when they get in trouble. Its not simple addition there, there's a real value to being on top of each project. It's certainly a factor that we monitor closely in RD Advisors lending program. Chris, Scott, Dave, JAKE, John, Keith

49

9 Comments

Navigating Real Estate Contracts: Stick to Essentials Unlock key insights into real estate contracts. Learn the importance of sticking to LOI and PSA, and effective document formatting tips. Don't miss this essential guide to real estate transactions! #RealEstateContracts #LOI #PSA #DocumentFormatting #RealEstateTips #InvestmentInsights #DealNegotiation #PropertyTransactions

2

#Multifamily technology is getting more *visual* The smarter the technology gets, the bigger the payback on highly detailed information about the physical assets that we manage. Visualization makes properties easier to understand for prospects and increasingly centralized leasing teams. It provides vastly richer information to maintenance and other service providers. And, when applied to data analysis, it tells the story of a property in a way that reports and lists cannot. Yesterday we launched a major new white paper, "Visual Revolution." If multifamily tech is your thing, you need to give it a look! https://hubs.la/Q02PpPH-0

3

Single-family rentals and build-to-rent communities are on the rise. How does this increasingly popular submarket affect the proptech industry? Though it's a newly popular submarket, renting homes is not a new concept. Plus, built-to-rent is very similar to multifamily insofar as the requisite tech stack goes: property marketing, resident experience, operations, and accounting software. It's a lot like an apartment building. It's also an opportunity for prefab and modular housing solutions. Given the more frequent moves associated with SFR, they need materials that can take a beating as well as standardized appliances. EV charging will also be an essential amenity, so homes will need to be equipped for that. What else have you seen? Add in the comments... #realestate #proptech

38

18 Comments