Multiple listing service

in a top producing real estate office.

So I was kind of running around filling flyer boxes, writing up MLS entries for an agent and kind of went, wow, San Luis Obispo County has way more to offer than I realized.

When you're in college, as you probably remember, you kind of like stick to a one to two mile radius.

You go downtown or to campus and that's about it.

Figuring out how to read it.

I know that what you're going to try to figure out is if you want to know that the value is correct or not correct or if you have to get a reconsideration of value which is you don't believe that the value of the appraiser or you think the appraiser may have missed something or you know I mean it can be a plethora of things but appraisers could come from not this area or they might have limited information on the MLS.

It just determines what their experience is.

A reconsideration of value is kind of like... or I guess knowing the report and knowing the reconsideration of value is being able to try to determine and try to find where in the report has the missing components and has the mistakes so that you can fix those and try to find what you can do to fix that.

Whenever it comes to concessions, I'll just try to find what they typically are in the market.

And

you can either, a lot of times you can see what they're just kind of averaging out through the MLS, the multiple listing service, or you can ask Zillow sometimes what the concessions are.

But what I'm finding right now in our market is just overall in Bell County is 4%.

And they all came together and were like, Hey, uh, we're going to create this open platform for listing data.

Now, actually, I was on a call with Leo probably about a year ago, and he mentioned something like this to me because he said to me like, hey, I could see a world maybe five to seven years from now where MLS doesn't exist.

And he told me like there's this kind of open sourced, kind of software for real estate data that allows it to be easily readable, like anywhere that it goes to.

And the way that the value chain exists right now for real estate data is like, Jose goes out, he takes a listing.

Then that multiple listing service then distributes the information to these aggregators like Zillow or Redfin or these different sites, Realtor.

And that's the third part of the value chain.

And then that aggregator monetizes that information in the form of leads, like where they charge agents for the leads, right? Well, Compass has been really trying to disrupt that, right? And lots of lawsuits and lawsuits against MLS systems, lawsuits against Zillow.

And what this is, is this is a response to that.

Previous to my AI, I would grab my coffee in the morning.

I would sit and look at the hot sheet on the MLS and see what price reductions, what new listings, do my due diligence so I could talk about the market.

Then I would typically go look at the rates and see what they're doing.

Then I might look on Experience Columbus or 614 and see what's going on in the city with the new restaurants and stuff like that.

It's a scheduled task is what it's called.

Every morning at 7 a.m., here's the information I want you to deliver to me.

So you have to give the AI platform access to your MLS login, or how does that work?

Yeah, so the MLS, it depends on your MLS because they're all different.

And then

the MLS became public in the sense that they could get it through Zillow and other companies.

That now they come to us and say, here are the seven homes I want to see where we used to be able to control that information behind a wall.

And now it's the next

I look at people's market reports because it makes it so easy.

Like, oh, that thing sold down the road.

I look in the MLS, get a little, maybe I know something about it.

And then the call to that person is not in six months when they said they wanted to sell.

We've got a lot of great ideas from all of you.

And we're also building out – drumroll, please – an MLS.

And the MLS is going to start out just be primarily focused on Dorado because it's just too much to handle beyond that.

And we're doing our best to have as current updated information as possible so it's no longer I heard that or I read that or someone told me that.

You're going to have actual factual information and we're – You know, it's not anybody's fault that there's it's not really by design that the information on real estate sales in particular.

So let's talk about this house really quick.

I'm going to open up my MLS software.

And some of these windows open.

We need them for the pod.

Good confirmation of that.

Closings in October, 217, that's down 26.4% year over year.

And the closings number could inch up a little bit because of lazy agents that haven't updated the MLS,

but

0.7%.

Now, that's among our market as a whole, right? Our MLS, all of the Outer Banks territory.

I do think that if you segment the market and look at smaller, like ocean fronts or west side homes, you will see a bigger difference in that median price.

Yeah, so pretty much the

Guys, stay out of my neighborhood.

So anything else that you want to add? What's your RealGrader pitch? What is that RealGrader, the RealGrader partnership that you have with BJ's MLS and with Miami and Our World Realtors? What does that do for our members?

You got it.

So pretty much everything we talked about today was building your credibility, how to take action on it.