2 minute read

Constellation1 President Andrew Binkley’s conversation with LeadingRE

This past April 6th, Constellation1 President Andrew Binkley sat down with Jeff Kennedy, Vice President of Sales and Partnerships at Leading Real Estate Companies of the World®, for a quick Facebook Live chat about the current real estate data landscape and how a data expert like Constellation1 can help.

We know MLS data challenges because we’ve been in your shoes

At Constellation1, our data expertise is actually rooted in data experience. Over the past 20 years as we’ve learned, grown, and acquired the partners that make up our family of companies—we developed a data skill set that is unlike any other aggregator out there. As Andrew points out, by gradually combining and integrating the separate data aggregation systems of each of our departments and acquisitions, we’ve created a single center of data excellence comprising a single API for more than 500 MLSs. We understand your data challenges intimately, because they are challenges we’ve had to solve ourselves. With Constellation1 Data Services, we take the value we’ve created internally and make it available to our customers.

Benefits of better data for brokerages

In contrast to many real estate tech vendors, most franchises and brokerages aren’t currently managing their own data. Instead, they access it through their vendors, who themselves may be managing it with varying degrees of success. But franchises and brokerages can reap enormous benefits from managing their own data and have access to much more data than they realize. And as MLS participants, they can do a lot more with that data than their vendors can:

  • Agent recruitment and retention: MLS data can provide a wealth of knowledge about agent performance. In the increasingly competitive real estate landscape, knowing what agents to bring on your team can be the difference between a hit year and a total flop.
  • Lead capture: Knowing where to focus your energies to find sellers that are likeliest to list means better lead opportunities and more commission income for your team.
  • Maximizing marketing spend: Spend the same amount on your marketing, but get a 2–3x better ROI by using data to drive your marketing and decision-making.

New data models, new challenges

To reap these benefits, an increasing number of brokerages and franchises are getting the appropriate licenses from MLSs and negotiating usage rights to access all sorts of data directly. However, not only does managing the data itself take an enormous amount of time and resources, so does negotiating MLS agreements and usage rights and managing MLS relationships and compliance. For many, doing it in-house simply isn’t sustainable. Working with an experienced partner who thoroughly understands data use cases and has 500+ established MLS partnerships means saved time, saved money, and less stress for everyone involved.

One company, many solutions

Andrew and Jeff wrapped up their conversation emphasizing that Constellation1 isn’t eight different companies under a new umbrella, but truly one unified company with many different solutions that provides top-tier, white-glove service. If you have a need for your franchise, brokerage, or real estate company, contact us today. We will put you in touch with the right person or put on our thinking caps to find a solution.

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