UPSTREAM for MLS

Upstream is going live in the Bay Area, California.
Will the National Association of Realtors Play ball?



I see a few enhanced things that come of this— 

Information of the lockbox available to show:

1. number of showings per property
2. rate of showings
3. neighborhood activity
4. days of the week activity
5. time and motion study on everything from list to close to analyze how to do it better without the Realtors

The broker will be able to edit the listing and "fine tune." 

   If agent moves office broker can edit information.
   Broker adds or edits photographs and improves the narrative describing the property, and makes it compliant.
   Broker chooses which systems the information will be able to access. For example, if local MLS does not want to share on Zillow or Trulia this could be blocked.


BUT why oh why doesn't the NAR develop it's own OWN OWNED— Super Multiple Listing Data and control who gets to use it?      Why give away the milk for free?

Why doesn't NAR have a national directory of agents with detailed
profiles- face shot, video, number of closed sales, specialty, degrees, and more?

Why not only go to one place that the NAR controls rather than
giving away free steaks?

Reminds me of the riots in Los Angeles in 1992. I'm sitting in the parking lot of a multifamily building I own under construction. The donut store across the street is on fire. Neighborhood persons run down Bonnie Brae yelling to me, "C G go get your free steaks!" In his arms, a stack of meat and bottles of alcohol.

Does the NAR not see that free steaks harm the market?
What about consumer privacy rights?
Do we want a camera videotaping minor children walking through a listing?

Initially, this was sold to Realtors as Data Managment that brokers control, but this is not true.

Do you hear Zillow screaming? Nope. I hear them rubbing saddle soap on their hands for the roundup.

Do you watermark all your photos with your own URL? Better start.

Why open up the cattle gates in the Bay Area? Why not get all the nitty gritty
details on the highest priced best of the herd in the United States...

Alex Lange is CEO,  HBS Harvard Business School
Experience working for Big Box Banks
corporate headquarters is in Seattle Washington

alexlangenow.com

UpstreamRE

Second Offer

Today's real estate funny

Submit the second offer first.
You may have a second drink but not the first

How I chose my realtor

About four hundred business cards, twenty regular mailers in US post office, a few random door
knocked who I never met, and the home phone that I never answer full of agents for listing appointments.

In the end I made two appointments. Both top sales teams in the county. One does more print ads, the other does short "films" of homes. Friends who are Realtor agents were pouty, mad, and some made
mean comments. I didn't use agent who was listing side, as they were not straightforward. I didn't use a from the few Realtors who send me mortgage business because this was vital to my personal life and I wanted to be free to push for what I needed.
In the end I wasn't  totally happy with my choice. Agent office double ended deal and sent buyer to their mortgage guy friend who ended up being the biggest liar I ever worked with. JMJ financial sent out approval letter on a file that was never underwritten,. It took 70 days not 30 to close because the Loan Officer continued to lie.. I had two back up buyers who continued to call every day after day 30, I told escrow in writing the deal was cancelled. Nothing about the transaction was easy, because the mortgage broker was searching to find a place to fund the loan while making up stories every day.

In the end the Borrowers signed loan documents (without legal wait period of Closing Disclosure), funded and recorded on Friday without my approval as it was a Friday before a long weekend. I ended up paying for 5 days of interest ( $1409.90 cost) and was pushed out of the houe in a firedrill with no notice. I did not have opportunity to wait for moving van on Monday and hired 4 "guys" and rented trucks to move a 3700 square foot house. A nightmare closing.

Now time has passed. Agent who I like contacts me to make a recommendation on a real estate website. I think I'll wait another year before I post a rating as it won't be 5 stars.

So an insider who has sold and bought more than 60 residential and 19 commercial properties one would think got the best service, cheapest commission and best deal. No.
I paid full commission. I believe the buyer got the best service. I did accomplish my goal of down sizing but it was terrible awful painful when it could have been much better.

Listing agent did not listen to my needs. Seller can't make arrangements to move when buyer's loan was not final loan approved. JMJ financial it appears no longer has this guy but owner Ryan Gale is still there and he did not care one bit.

CFBP

• Congressional oversight of the CFPB?
• Will Cordray quit before they fire him for failing to cooperate with suppoenas
•  Financial CHOICE Act affect the CFPB's director?
• What new rights does the ACT grant a party facing a CFPB enforcement action?
• How would it change what the CFPB must consider in issuing regulations?
• easier for a financial institution or service provider to obtain compliance advice from the CFPB?
•  CFPB's authority to enforce UDAAP laws and regulations?

What would be the practical impact of all of these changes on providers of consumer financial products and services?

Are Major Changes to Consumer Financial Protection Bureau's Enforcement Authority Coming?

On June 8, 2017, the U.S. House of Representatives passed the Financial CHOICE Act, which, if enacted, reins in the Consumer Financial Protection Bureau (CFPB) giving Congress control over its budget and funding.The Act forces the CFPB to bring regulatory actions in a court of law, if asked; and removing the CFPB's authority with respect to enforcement actions involving unfair, deceptive and abusive acts and practices (UDAAP). The CFPB has been the most effective – and aggressive – federal regulatory agency we've seen in years. Its rules of the road have not always been clear, and many in the regulated community believe the agency has gone too far in bringing some enforcement actions. Enactment of the Financial CHOICE Act would significantly change how the CFPB enforces federal consumer financial protection laws, which would give some relief and more regulatory certainty to the regulated community.

Richard Cordray is rumored to be running for Governor of Ohio. He knows his days are numbered. There's a crew of Republicans who want him out, including our President

Democratic spin on Ohio

Washington wants to gut the CFBR 

Trash the bureau which fined so many big banks and stodgy bankers.

They collected billions in fines and the money stays with the CFBP

President Donald Trump can’t replace Cordray without firing him for cause, an act that carries its own political risk given the bureau’s popularity with the public 

Hensarling and other lawmakers are expected to file a resolution to overturn the rule under the Congressional Review Act

citing Consumer Financial Protection Bureau Richard Cordray for contempt of Congress