Description

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob and Greg break down Open Real Estate (ORE), a new initiative from eXp, Real, RE/MAX, Keller Williams, and Berkshire Hathaway HomeServices to build a broker-run listing cooperative. They debate whether ORE is a national MLS or a syndication platform, whether a Q1 2027 launch is realistic, and what ORE could mean for MLSs, Compass, and government regulation of the industry.

Key Takeaways

• ORE aims to prevent inventory fragmentation driven by Compass's private listing strategy.
• Greg gives ORE a one-out-of-ten chance of success but thinks MLSs and portals should help anyway.
• Rob says mandatory submission plus cooperation makes ORE a national MLS, whatever it's called.
• Greg sees ORE as closer to ListHub 2.0, a data feed that works alongside MLSs.
• Rob asks why ORE doesn't just buy ListHub from Realtor.com instead of building from scratch.
• Neither host believes ORE can launch by Q1 2027 with RFPs only now going out.
• ORE's early principles include submission within one business day and public or participant-only listing options.
• ORE could become the industry's new rulemaker, giving MLSs cover against Compass.
• Pricing like a dollar per listing could push smaller MLSs toward consolidation.
• Greg credits ORE for bringing a solution to the table instead of filing lawsuits.
• Greg wonders if ORE gives Robert Reffkin a face-saving way out of his fight with MLSs.
• Rob argues ORE's real goal is removing inventory as a way for brokerages to compete for agents.
• Rob warns that ORE's consumer-protection rhetoric could invite government regulation of the MLS.
• In 2004 congressional testimony, industry leaders defended the MLS as a private broker-to-broker cooperative.

Links

Vendor Alley: Upstream 2.0? Not Quite. 

Inman: KW, AGNT, HomeServices of America, Real REMAX fight private listing with new collaboration 

BAM (Video) : REAL, eXp, Keller Williams & Berkshire Hathaway Announce Historic Team Up 

Notorious POD (Video): Reaction Video - Open Real Estate

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