Once again – even after a quarter of a century – Clareity25 MLS workshop did not disappoint. The venue at the Westin Kierland Resort in Scottsdale was fantastic. The rooms were great, those who played in the Monday golf scramble had all they could handle, and the evening outdoor receptions were terrific. The conference’s theme was “Dare Greatly,” and together, more than 300 attendees did just that. Kudos to the team at CoreLogic for hosting a polished and professional event.
Clareity followed its customary format: optional golf or alternative adventures on Monday, Welcome Reception on Monday night, a full day of sessions on Tuesday followed by an evening reception celebration, and a half day of meetings on Wednesday – a perfect schedule.
Clareity workshop founder Gregg Larson kicked off the event with this technology and trends update. He had fresh content from CES, covering a remarkable list of innovative products featuring everything from AI companions to personal helicopters.
Attorneys Ed Zorn, VP & General Counsel, California Regional MLS; Mitch Skinner, Managing Member, Larson Skinner PLLC, and Claude Szyfer, Partner, Hogan Lovells LLP
The legal update featured three prominent MLS attorneys: Ed Zorn, Mitch Skinner, and Claude Szyfer. Generally, none of them have a clear opinion – yet – on how the DOJ or CFPB will operate under the Trump administration. There seemed to be a consensus that the optional co-mingling rule has likely lived its useful life. If you have this rule in your market, talk with your attorney and your board.
Huge legal takeaways
EVERY MLS SHOULD PUBLISH YOUR RULES ON YOUR WEBSITE PUBLICLY! I believe that it was Mitch Skinner who learned that the best way to avoid a Civil Investigative Demand (CID) from the Department of Justice is to publish your rules.
There was a spirited discussion about the benefits and challenges to association-owned MLSs. The antitrust concern of tying MLS access to Association management was at the heart of this discussion. Many MLSs have made Realtor Association membership optional; remarkably, very few have witnessed any drop in subscriptions/membership. There is so much value offered through Association membership that it would be rather senseless not to join.
If you have not created a value proposition document for your business that shows all the benefits your MLS or Association offers, WAV Group would be happy to help you create one. Contact Marilyn Wilson.
As for CCP, the MLS lawyers were all in lockstep, and it’s a great rule to provide transparency in the marketplace. Northwest MLS (broker-owned and not NAR affiliated) has taken CCP one step further as they do not allow for “private exclusives.” There was a discussion about the three-way agreement, and the attorneys generally agreed that it was fine.
Other highlights
Bill Fowler provided an excellent presentation on his efforts at Doorify to expand the identity and services of the MLS. I would love to see more of this type of presentation at conferences. I think that Clareity nailed the mix of individual presentations vs. panel discussions.
Clint Skutchan, SVP, Organized Real Estate, T3 Sixty, gave a presentation on the “Future Possibilities of MLS Ownership.” Many Associations are considering an exit of the MLS business today. Firms like WAV Group provide merger and acquisition services and MLS valuations to help with this consideration. It’s a hot topic, and Clint did a nice job showing the landscape.
Gregg Larson interviewed Kevin Sears, President of the National Association of REALTORSⓇ, followed by an economic update from Michael Fratantoni, Chief Economist of the Mortgage Bankers Association. He noted most markets have reached an equilibrium between a buyer’s or seller’s market, interest rates are not likely to change much this year, and home price appreciation is expected to hover between 2% and 3%.
Justin Haag of Northwest MLS moderated a broker panel that included Peter Hunt, Chairman and CEO of Hunt Real Estate, with offices across upstate New York, spanning from Buffalo to Boston. Brad Patt, Regional President of BHHS Fox and Roach, joined him. They both offered fascinating perspectives on an array of topics, but my top takeaway is that MLSs should focus on offering a basic core service – like MLS and Tax. If they offer expanded services like CRMs, Websites, etc., they need to sell those at retail to the agent rather than undercutting the broker with site licenses that level the playing field.
Rules vs. policy framework
Attorney Claude Szyfer of Hogan Lovells, Rodney Gansho of NAR, and Matt Cohen of CoreLogic
Attorney Claude Szyfer of Hogan Lovells, Rodney Gansho of NAR, and Matt Cohen of CoreLogic shared vital MLS policy recommendations and insight.
From a legal perspective, competitors collaborating on policy is generally more favorable than collaborating on business operating rules because it is less likely to trigger antitrust violations and regulatory scrutiny.
Here’s why: Competitors can work together on shaping industry regulations, standards, or government policies if done in a way that benefits the public and promotes fair competition. Jointly setting business practices, pricing, or market behavior can lead to antitrust allegations of collusion; policy collaboration advocates for best practices without restricting competition. Rule collaboration can appear as an attempt to control market entry or innovation, which is bad.
More insight
James Dwiggins presented how MLSs can focus on supporting broker and agent value. He offered an innovative suggestion to create a “Buyer MLS.” This session was followed by Gregg Larson interviewing Errol Samuelson on “Zillow’s Vision.”
Tuesday’s excellent sessions were capped off with a “Back to the Future” 80s-themed party to celebrate Gregg Larson’s retirement.
Wednesday kicked off with Jack Miller of T3 Sixty reviewing the “Opportunity Report,” a remarkable collation of attitudes and opinions of dozens of leaders from all corners of the real estate industry.
John Rogers, Chief Data & Analytics Officer of CoreLogic
His review of the report was followed by a climate risk session presented by John Rogers, Chief Data & Analytics Officer of CoreLogic. MLSs definitely need to focus more on providing climate risk data to agents and their customers. Climate Risk has increased remarkably, and consumers are facing insurance headwinds in many areas. Just look at this chart showing the massive change in natural disaster growth:
Wednesday’s sessions included exceptional presentations on data security in the AI hacker environment and some remarkable sessions on the emerging trend of US MLS firms collaborating to support international MLS adoption in Europe and the Middle East.
Final takeaway
For me, Clareity is like a big family reunion where we celebrate the decades-long friendships we have developed. There’s lots of laughter in a comfortable and respectful setting, and the sessions were all very beneficial and impressive.
The next big MLS meeting will be the CoreLogic Client Summit with the theme, “Camp CoreLogic,” in San Diego, June 23rd-26th. See you there.
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