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Tag Archives: National Broker Public Portal

Tag Archives: National Broker Public Portal

Listing Bits Podcast with Victor Lund, and More on Broker Public Portal

by Drew Meyers on 2:00 pm March 13, 2018

I listened to Greg’s Listing Bits podcast with Victor Lund the other day. Here’s the episode for the curious folk: Homesnap recently raised a $14 million Series B. Like Greg, I really wonder how those VCs are ever going to get their money back if the brokers who own 50% of the Broker Public Portal joint venture with Homesnap can nix any acquisition. Let’s play out this scenario. Homesnap succeeds in growing traffic, they have trouble monetizing (they need a massive sales force to compete against Zillow … Read More »

Broker Public Portal Comes to NWMLS / Seattle

by Drew Meyers on 12:30 pm February 22, 2018

It’s been awhile since we’ve talked about Broker Public Portal here (now a joint venture with Homesnap). Just this month, Homesnap raised $14 million. A few stats: 21 million consumers used the Homesnap site/app in 2017 8.5 million consumers engaged with agents on the Homesnap site/app in 2017 3-4 million unique visitors to Homesnap every month Especially given I’m in Seattle where the NWMLS operates (and is famously hard to deal with both on technical side of things as well as business), some big news hit yesterday: Homesnap/BPP is coming to … Read More »

Why Brokers Support The Broker Portal

by Merle Whitehead on 5:00 am February 13, 2017

Homesnap and Broker Public Portal

Background For the past two years, it has been my distinguished honor to serve the industry in the development of the Broker Public Portal. Today, I serve as the company’s Chairman, and am one of the representatives of the Large Broker class of the Board of Managers. Background about the Broker Public Portal MLS consumer websites have been around forever in real estate. There has been a long discussion between brokerage firms and MLSs about the nature of competition between those consumer sites and the … Read More »

Homesnap + Broker Public Portal

by Drew Meyers on 2:54 pm January 20, 2017

I saw the news that Homesnap and Broker Public Portal formed an equally owned joint venture. (click here for prior writing on Broker Public Portal) A few things… First, I’m still unclear EXACTLY what the goal of Broker Public Portal is? Second, is the new joint venture a FOR PROFIT initiative? Third, I ask again — why exactly will a consumer care about BPP/Homesnap? Fourth, consider the following: “HAR.com and a number of other MLSs have been able to capture a reasonable share of voice in online consumer … Read More »

SRE Matrix, and Recreating the Portal Wheel

by Drew Meyers on 3:55 pm August 30, 2016

SRE Matrix has $200 million in funding from Takeshi Sekiguchi, operating a discount model in Hawaii and San Diego, and looking to expand (see Inman). What are they doing with all that money? Building another national portal… The brokerage planned to have set up shop in 14 states by July, but it’s currently only operating in Hawaii and San Diego. It decided to hold off on expansion until it could field a nationwide property search site, Young said. Led by Lucas Haldeman, a former product manager at realtor.com operator … Read More »

Realogy Invests in Estately

by Drew Meyers on 4:41 pm October 14, 2015

Some of you may have seen the news that Realogy has made a strategic investment into Estately (I saw the news on GeekWire). Galen is another real estate tech entrepreneur based here in the Seattle area, which of course is home to Zillow, Redfin, & MarketLeader. I’d say the investment is an extremely smart strategic move by Realogy to get a major stake in one of the best search experiences anywhere. Side note: I’ve long thought Broker Public Portal should just buy Estately and fill it with data across … Read More »

Expedia-Orbitz Gets Final Approval

by Drew Meyers on 5:58 am September 17, 2015

I’ve wondered whether real estate will follow travel on this exact path. Tnooz is reporting that the Expedia-Orbitz acquisition finally received regulatory approval. How long until Broker Public Portal eventually gets purchased by Zillow (or whoever #1 in the market is a few years from now)?

Example Results When Agents Try to Build Portals

by Drew Meyers on 11:39 am July 24, 2015

As a result of the ongoing discussion about Broker Public Portal (most recent thread here), I did a little bit of digging to figure out whether there have been other “agent/broker led” portal initiatives that have successfully competed against market leaders in other countries. I found this article on Property Portal Watch by Simon Baker about agent-built portals Squiiz (Australia) and OntheMarket (UK). Simon also wrote a part 2 with more analysis. Squiiz in Australia (can anyone spell this?): OnTheMarket in the UK: On the surface, OnTheMarket seems like … Read More »

BPP Selects 1000Watt

by Drew Meyers on 8:00 am July 23, 2015

It’s no secret I’m not the biggest fan of the Broker Public Portal. I really don’t see how it makes strategic financial sense, and have long thought the project will be a colossal waste of money rebuilding the exact offering that has taken Zillow 10 years – and millions and millions of dollars – to build. I don’t see a way to differentiate the product, or a sustainable way to generate organic traffic (short of the whole industry ceasing to send listings to Zillow, which I don’t see happening). But honestly, what do … Read More »

Broker Public Portal: What Investment is Needed to Make Comparison to Travel Industry

by Drew Meyers on 10:38 am April 30, 2015

I alluded to the industry combatting the portals with an Orbitz strategy in January of 2014, which turned out to be the case in February (2015) after Broker Public Portal was announced. The industry is taking a Orbitz strategy. Great. Though travel and real estate are very different industries – it can be done, certainly Orbitz has proved that in the travel vertical. But…how much funding/investment will Broker Public Portal need to have a chance? Some relevant history on Orbitz: Five airlines–United Airlines Inc., Delta Air Lines Inc., Continental Airlines Inc., Northwest Airlines … Read More »

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