Ep 130: Understanding the MLS with Sam Debord

Sam Debord

Sam Debord is the CEO of the Real Estate Standards Organization (RESO) which creates open standards that drive innovation in real estate technology. Specifically, they are the force behind standardizing the Multiple Listing Service (MLS). We spoke with Sam this week to understand what RESO does, why the real estate industry needs it, and how it benefits home builders specifically. Get answers to some of your common MLS questions, including rich media specifications, how to circumvent days on market, and the big data benefits of being an MLS member. Plus… how to prepare for the 2021 Consumer Storm.

Story Time (1:35)

• ‘Tis the season for follow-up. Becca’s husband called three maid service companies. One never responded. One responded (aggressively) 7 hours later via text. The winner responded immediately, provided a reasonable price, great front end service, and got everything he needed to make an appointment.


• Kevin gives tips on preparing for the 2021 Consumer Storm, including:
  
  
  
  • A new concierge position
  
  
  • Trust-building content (testimonials, 3rd-party warranties, awards) and shopping content (images, floorpans, interactive floor plans)
  
  
  • When things go wrong, how will you react? What are you standard operating procedures?
  
  
  
  

In the News (22:58)

• BDX is no longer partnering with Realtor.com as of Feb 1st. Plus, new Realtor.com products


• TikTok is Ad Age Marketer of the Year, and Amazon is Now World’s Largest Advertiser: Monday Wake-Up Call (Adage.com)


• The IKEA Catalog is Dead. Long Live the IKEA Catalog. (printmag.com)


• CoStar spoiling for a fight with Zillow over listing data in NYC (inman.com)

360 Topic of the Week – Understanding the MLS with Sam Debord (37:56):

• What is RESO, why do we need it, how does it help real estate agents do their work?


• The story of the MLS


• Now that standards are in place, what’s the practical application of them (including for home builders)?


• Rich media and the MLS – what’s the latest?


• Why builders should put their listings in the MLS – the opportunities and challenges


• How builders can get involved in MLS standards


• Unshackling MLS data: It’s time to accelerate NOW (inman.com)


• The dibs on Costar

Question of the Week (1:26:00)

For 2021, how much do you plan to invest with syndication sites as a whole compared to 2020? (Zillow, NewHomeSource, Realtor . com, BuzzBuzzHome, etc?) Everyone who votes will be entered to win a $200 Amazon gift card drawn at random! Submit your answer here.

Questions? Comments? Email [email protected] or call 404-369-2595 and we’ll address them on the next episode.

More insights, discussions and opportunities in the Market Proof Marketing Facebook group.

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A weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, and others from Do You Convert will break down the headlines, share best-practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We’re here to help you – not to sell you!

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