MLS (Multiple Listing Service) Realtor Information Network (RIN) REALTOR.COM

NAR Directors – Considerations and Issues

  1. Stakeholders – There are a number of stakeholders in Realtor.com. Who are they?
  • Consumers
  • Brokers
  • Agents
  • MLSs
  • Associations
  • Franchisors
  • Shareholders of MOVE

Your decisions more than likely will have some impact on all of the above.

2. For Sale By Owner – Should FSBOs be allowed to be displayed on REALTOR.com , along with the listings from the MLSs?

3. Advertising restrictions – Should the Operating Agreement restrictions be lifted on Realtor.com links to apartment rental advertising services or to
new home developments advertisements?

4. Consumer evaluations or ratings of agents/brokerages.

5. Display content from NAR’s House Logic and Realtor Property Resources (RPR)

6. More derivative data products

7. Create a national MLS database (this is NOT an MLS)

 

 

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Realtor Information Network (RIN) REALTOR.COM

In 1995, Internet Advertising was new and unproven – and the WWW was a potential threat to the Industry

In 1995, exposing lots of listing information to consumers, by any means, was not a popular way to conduct one’s real estate business. At the time, WWW advertising was brand, spanking new, and had many unknowns. Below are three PowerPoint slides from my original presentations on Internet Advertising of Real Estate. The first two slides are amusing. The numbers seemed large back then and are very small numbers by todays standards. The third slide states the “warnings.”

The warnings from 18 years ago,accurately predicted the future.

Slide One – What is Internet Advertising?

  • An inexpensive new medium
  • Accessible by 20,000,000 users
  • Exists now, wave of the future

Slide Two – In what form does it currently exist?

  • Over 4000 current real estate “sites”
  • Each site offers few listings
  • Number was less than 200 9 months ago
  • Site sponsors:
  • Newspapers/magazines
  • National and regional brokers
  • Non traditional R.E. organizations

Slide Three – Why should I be concerned?

  • Continued fragmentation will weaken one of our strongest assets, our inventory
  • Continued fragmentation will allow non traditional services to gain a foothold
  • Non traditional services are not necessarily “REALTOR Friendly”

What is Internet Advertising
Original Internet Advertising Presentation Slides

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Realtor Information Network (RIN) REALTOR.COM

Realtor.com – The Number ONE, most visited real estate website in the WORLD – NAR Directors, take note

Last night I had this thought that I do not think has been addressed yet in the discussion about the Special Meeting of the NAR Directors in Chicago next week.

When the NAR Board of Directors met in Chicago on August 26, 1996, to decide the fate of Realtor.com, a decision that affects almost everyone in real estate to this day…Realtor.com, by any measure or standard, was the NUMBER ONE real estate website in the world.

Not only was Realtor.com NUMBER ONE, it had “First-mover Advantage,” which was significant during the heady days of the “Dot Com Bubble.”

It is not because Realtor.com was not a success that the NAR Directors signed away the future, because it was very successful and on its way to huge success, due to the early positioning achieved by RIN and NAR.

The problem was fear. Fear that NAR could not compete with the capital required to keep Realtor.com NUMBER ONE. RIN Had problems to be sure, but Realtor.com was an amazing initial success, especially in the period of time from concept to launch. Had we maintained not surrendered, the landscape would surely be much different today.

So, on August 26, 1996, NAR (RIN) had the NUMBER ONE real estate website in the world, and little competition, the decision was to take the chance and spin-off Realtor.com.

For emphasis…the NUMBER ONE real estate website in the world, and little competition, and the decision was to spin-off Realtor.com. Some people, myself included, seriously questioned that decision, but we were powerless to do anything about it because of the other problems at RIN. I openly advocated for Realtor.om listing exclusivity, using the “Super Bowl” analogy. “The NFL does not broadcast the Super Bowl on 50 different channels. It chooses one. The public learns the channel for the Super Bowl, and that is where they go to view. The audience is gigantic. Ads are sold for millions of dollars for 30 seconds of exposure.

Why did NAR get cold feet? Having spent 13-18 million dollars (depending upon who you talk to),and with separate political agendas and competing interests (Florida Living Network (FAR), California Living Network (CAR), there was a rush to dump RIN and Realtor.com.

Are there any political agendas waiting to ambush Directors this time?

In the next week, the Directors of NAR will once again be asked to make decisions about the fate of Realtor.com. This time, Realtor.com is number three, with plenty of threats and competition, and anchored with a “1000 page operating agreement.”

Are the provisions of the old operating agreement still relevant, or is it time to tear it up and allow Realtor.com to compete and see if it can regain that NUMBER ONE position?

Hopefully this time we will not make decisions that are “penny wise and pound foolish.”

 

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Realtor Information Network (RIN) REALTOR.COM

RIN and REALTOR.com Rollout to Pilot State Colorado – June 1995

Here are some video clips of the initial RIN presentation held at the Colorado Association of REALTORS June 29th, 1995.

Speakers:
Ed Evans, President, RIN
Saul Klein, Realtor Consultant, RIN

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Realtor Information Network (RIN) REALTOR.COM Uncategorized

Early Research and Studies Leading to the Creation of RIN, and ultimately REALTOR.com

Prior to the launch of RIN and REALTOR.com at the National Association of REALTORS® Annual Conference in Atlanta in November 1996, there were a number of important reports commissioned by NAR to assist in the creation and implementation of RIN. We’ve included these reports in the RESOURCES tab you will find on the top of this blog (along with the Technology Timeline to give you some perspective).

NAR President Bill Chee appointed a Presidential Advisory Group (PAG) on MLS Technology Applications in the spring of 1993 entitled The Future of MLS.

The PAG was charged “To assess the current trends in technology applications to real estate….especially as it extends to or includes MLS information delivery systems. To make recommendations concerning what actions the Realtor family should take to assure that it maintains control of MLS systems whether used only by the brokerage industry or as it may be provided directly to the public.” Its stated Vision: “That the Realtor is the primary provider of all information needed by a consumer in a real estate transaction.”

NAR contracted with EDS (Electronic Data Systems, Inc) to provide the business plan and contracted with Gallup for the market research. Also, the main MLS vendors offered their input to the NAR business plan regarding the future of MLS – “MLS Vendor White Paper”

I also remember something about Arthur Young and in fact, they may have done a study and report for NAR as well, but I have not been able to locate any documentation.

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Realtor Information Network (RIN) REALTOR.COM

RIN Education and Training

Education and Training were critical components of the business plan for RIN. Unfortunately, the training programs were put aside during the transition from NAR to Real Select in 1996. A few years later, NAR launched the e-PRO Technology Certification Program. The team at RealTown’s Internet Crusade played a key role in the success of the e-PRO program during the first decade of the 21st century.

RIN Training and Publishing Plan was submitted to Ed Evans and Bob Goldberg on December 24, 1995. Like much of RIN, it was ahead of its time. For a copy, click on the following link .TRAPUB2jr

Train the Trainer

 

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Realtor Information Network (RIN) REALTOR.COM

Memorabelia – RIN and Realtor.com

RIN Mouse Pad

RIN Mouse Pad

 

RIN tie RIN Tie 2

The RIN Tie was given to all male members of the RIN Team for the Convention in Atlanta in November, 1995. The ladies were given scarves of the same pattern. They are Nicole Miller 1995, compliments of Bob Goldberg. Bob Goldberg was the guy who picked up the RIN pieces for NAR.

 

IMG_0906

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MLS (Multiple Listing Service) Realtor Information Network (RIN) REALTOR.COM

Extraordinary Vision – NAR in the 1990s

RINphoto“Text without context is pretext.” As the NAR Directors prepare for their special meeting and discussions about the future of Realtor.com, some context may be helpful.

The National Association of REALTORS recognized in the early 1990s the importance of technology and the role it would play in the future of real estate. Through NAR, and its wholly owned subsidiary, RIN, the real estate industry was among the first in the world to embrace the web as a new way to market. The real estate industry, lead by NAR (and all of the affiliated associations and MLSs), was a pioneer in exposing its “For Sale” inventory on the web for all consumers to see, through the ancestor of what today continues to be called Realtor.com.

For this to happen required a major shift in thinking. In many locations across the country, addresses of properties for sale were not included in the ad, for fear of providing “too much information,” and thus minimizing the role of the REALTOR.

NAR hired major consulting firms EDS, Arthur Young, and Gallup in the early 1990s. It created a Presidential Advisory Group (PAG) in 1993, followed by the incorporation of the REALTORS Information Network (RIN), a wholly owned subsidiary of NAR .

RIN was created by NAR to allow for a leadership and management structure separate from, and more nimble than, NAR — those being requirements for survival in a fast moving, Information Age. It was RIN’s Mission to “Keep the Realtor in the center of the transaction”  as technology changed the role of brokers and agents. RIN had a private side, the RIN Network…and a public side, for the marketing of listings, which was called Realtor.com.

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MLS (Multiple Listing Service) Realtor Information Network (RIN) REALTOR.COM

Public Access to MLS and REALTOR.com – 1995

In the early 1990s, there was a lot of broker and Industry fear of the public gaining access to the MLS. There was talk of MLS being so valuable, that it should be considered a public utility…regulated and controlled by the government. This presented a huge hurdle as I set out to introduce the Web as a new place to advertise listings as the Realtor Consultant for RIN.

When the WWW burst on to the scene, listings displayed as advertising could be mistaken for “public access” of MLS. I was acutely aware of the problems RIN would face promoting Realtor.com and convincing the Industry that the WWW was a great place to advertise should brokers begin to confuse the Web with public access. To socialize the difference, the first name I gave to Internet Advertising on REALTOR.com was the National Electronic Advertising Program (NEAP). That worked for awhile until my friend and colleague, Roy Rainey, complained that it was too long. So I changed it to EAP, and then IAP (Internet Advertising Program). It was later changed to RPA (Realtor Property Ads). Here is an early brochure:

IMG_0882 IMG_0884

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Conferences Realtor Information Network (RIN) REALTOR.COM

RIN President Ed Evans Speech to NAR Directors – January 1995

Ed had been on board a few months by the time of the NAR Mid Winter Meetings held in Orlando in January of 1995.

1995 Ed’s Speech at Mid-Winter Meetings

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