"Project Upstream"
There are going to be several changes coming to our industry, most notably the changes with the settlement process with loan applications taken after August 1st of this year. We will be covering this in great detail over the next several months.
However somewhat under the radar project "upstream" was announced about two weeks ago. In my opinion one of the biggest mistakes that was made in this industry was when the Brokers gave up control of the data for their listings. Once the data was given to the Multiple Listing Service's they gained control of that data then eventually started syndicating that data when technology allowed. I am sure no one at the time could have imagined the ramifications but now we have Zillow, Trulia and anyone else who can get the data selling the leads they produce back to us.
There will be a lot more to come on this and it will take some time to unfold. I do believe Upstream is the beginning of the Brokers getting together to take back control of their data. In the long run whoever control's the data will control the revenue from the leads it produces. It will be fun to watch how this unfolds, below is a good article on it and a diagram of the flow of data.
Enjoy the coffee,
Joe
INSPIRATION FOR TODAY:
I am looking for a lot of men who have an infinite capacity to not know what can't be done.
~ Henry Ford
EVER BEEN CRITICIZED?
If you've ever had a dream - you've also had critics. It seems they show up right on cue every time that special new dream begins to form. Critics come in the form of family members, employers, friends, and associates.
Interestingly, the only opinion worth listening to is your own. The opinions of others simply reflect their own limitations - and have nothing to do with the achievement of your dreams. Just imagine how shallow the world would be today if the following individuals had listened to their critics:
Arnold Schwarzenegger's family said, "How long will you go on training all day in a gymnasium and living in a dream world?"
Mary Kay Ash's attorney advised two weeks before her first store opening, "Liquidate the business right now and recoup whatever cash you can. If you don't, you'll end up penniless."
His teachers to Ray Charles: "You can't play the piano, and God knows you can't sing. You'd better learn how to weave chairs so you can support yourself."
What Diana Ross heard her teacher say when auditioning for a high school play: "You have a nice voice, but it's nothing special."
Have a dream? Live it, pursue it, and achieve it - with a passion!
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