— Bill Wendel (@RealEstateCafe) November 2, 2012
As some innovators build new business models based on the believe that “personal data is the new oil,” the real estate industry seems to be stuck in a family fight about who controls the distribution of information about MLS listings. Some, including a blogger who wrote about syndication this morning, have proposed—at least theoretically — solutions which range from one MLS to an open MLS. What do we think of those proposals?
Why not let homebuyers and sellers control their own digital identity, including information related to their property and home search? If real estate consumers owned and managed their own data, how would they benefit? Some idea starters Real Estate Cafe proposed more than two year ago are on ProjectVRM:
Others will emerge as the personal data eco-system expands and becomes inevitable. In fact, some are calling the newly announced “Digital Asset Grid” an industry transforming opportunity that only comes around every decade or two, see 7:30 minute mark on http://vimeo.com/52116417
Homebuyers and sellers, lenders and real estate agents, data providers and software developers, consumer advocates and industry regulators — Would anyone like to participate in a conversation about how the Digital Asset Grid, in combination with internet identity and VRM (Vendor Relationship Management), will change the way homebuyers and sellers access and share data; interact with lenders, buyer and seller agents; and get compensated?
If so, we can use our reVRM Minifesto — http://bit.ly/reVRM-Minifesto — as a starting place or the question on Twitter thread at the start of this post.
This is an international discussion, so let’s meet in a variety of places, online and off, at local meetings with consumers and industry conventions with professionals. If you’d like to talk privately or in a group at the National Association of Realtors’ annual convention next week in Orlando, please let me know immediately at realestatecafe [at] gmail.com. Significantly, they’re already RE/Thinking the Future of Real Estate: http://rethinkfuture.com