Business Model Canvas (BMC)- A new venture concept
Upstream presentation tar webinar_3.9.16
1. ™
What is UPSTREAM™?
Cary Sylvester
Upstream Board of Managers
Vice President of Industry Development, Keller Williams Realty International
@CarySylvester
7. ™
Data Distribution with Upstream
• Single Entry
• Rules Engine
• Pull vs. Push APIs
• Near real time
• MLS provides IDX
Primary MLS
Secondary MLS(s)
8. ™
Data Distribution with Upstream
Realtor.com
Zillow
Homes.com
Trulia
ListHub
• Web APIs
• Pull vs. Push
• Permission-based
• Custom layouts
• Authorization limited to own
listings
• Ability to restrict data
download
9. ™
• Web API’s
• Pull vs. Push
• Permission-based
• Custom layouts
• Authorization limited to own
listings
• Ability to restrict data
download
Data Distribution with Upstream
KWLS
Marketing Systems
Accounting and
Transactions Systems
20. ™
Approach
Two Pilot Periods
•Each pilot period will target approximately 10
MLS markets
•Within each period, two phases of testing:
• Alpha Testing: one brokerage in the target market
• Beta Testing: all additional beta offices in the target
market
• Full Launch: system available for all offices in the MLS
market
21. ™
• MLS, Vendor, Brokerage, and RPR project
teams definedRoles and Responsibilities
• Current inventory, input, and export flows
definedAssessment
• Input, validation, access rules, record
layouts, quota, etc.Requirements
• Definition of MLS and Vendor SDKsAPI Provisioning and
Development
• End-to-end testing with one office
Alpha Testing
• End-to-end testing with multiple offices;
training and rolloutBeta Testing and Launch
Market Launch Workflow
22. ™
Timeline
• Q4 2015: Development began
• May 2016 (NAR Midyear): Alpha/Beta
testing in select pilot markets
• EOY 2016: Completion of beta testing and the beginning of
market expansion
There is a LOT going on in the real estate industry today…
This is a critical time
-Consumers are ALL online
-There is massive consolidation of MLS organizations
There are two initiatives that I am sure you have heard about—one is handling how we as real estate agents manage our listing information. That is Project Upstream.
The other is a consumer facing portal known as the Broker Public Portal.
So. What is Upstream? These are the names of the various brokerages, networks, and national franchises that are working together to develop Upstream. It is a broad-based effort designed to benefit ALL parties involved with real estate-related data—MLS organizations, vendors, and brokerages of all sizes.
This is the current state of our data distribution—with more than 800 MLS organizations and countless marketing and accounting vendors, it is chaotic, confusing, and, unfortunately, often leads to the distribution of inaccurate information.
More than that, this chaotic system has fragmented our industry and has reduced our ability to negotiate as an industry.
This is the current state of our data distribution—with more than 800 MLS organizations and countless marketing and accounting vendors, it is chaotic, confusing, and, unfortunately, often leads to the distribution of inaccurate information.
More than that, this chaotic system has fragmented our industry and has reduced our ability to negotiate as an industry.
Now this is what our listing distribution system will look like with Upstream. I have to note—Upstream is the first collaborative venture by industry-wide competitors since MLS organizations were formed. I hope that shows you just how important this initiative is!
The goal of Upstream is to reorder the flow of real estate data through the creation of a central database for agents to enter, store, modify, and then distribute their listing information where they choose. It will connect real estate firms with the recipients of real estate data (such as MLS organizations, personal websites, syndication sites, and more). However, Upstream isn’t just about syndication, it is about efficiency, accuracy, and fostering innovation.
I feel like when I talk about what Upstream is, it’s often important to talk about what it is NOT:
Upstream is NOT a consumer-facing website—it will not compete with syndication sites like Zillow or Trulia.
Upstream is NOT a MLS or a MLS vendor—it will not be involved in the cooperation or compensation of local real estate brokers OR in any local policies.
Now this is what our listing distribution system will look like with Upstream. I have to note—Upstream is the first collaborative venture by industry-wide competitors since MLS organizations were formed. I hope that shows you just how important this initiative is!
The goal of Upstream is to reorder the flow of real estate data through the creation of a central database for agents to enter, store, modify, and then distribute their listing information where they choose. It will connect real estate firms with the recipients of real estate data (such as MLS organizations, personal websites, syndication sites, and more). However, Upstream isn’t just about syndication, it is about efficiency, accuracy, and fostering innovation.
I feel like when I talk about what Upstream is, it’s often important to talk about what it is NOT:
Upstream is NOT a consumer-facing website—it will not compete with syndication sites like Zillow or Trulia.
Upstream is NOT a MLS or a MLS vendor—it will not be involved in the cooperation or compensation of local real estate brokers OR in any local policies.
Now this is what our listing distribution system will look like with Upstream. I have to note—Upstream is the first collaborative venture by industry-wide competitors since MLS organizations were formed. I hope that shows you just how important this initiative is!
The goal of Upstream is to reorder the flow of real estate data through the creation of a central database for agents to enter, store, modify, and then distribute their listing information where they choose. It will connect real estate firms with the recipients of real estate data (such as MLS organizations, personal websites, syndication sites, and more). However, Upstream isn’t just about syndication, it is about efficiency, accuracy, and fostering innovation.
I feel like when I talk about what Upstream is, it’s often important to talk about what it is NOT:
Upstream is NOT a consumer-facing website—it will not compete with syndication sites like Zillow or Trulia.
Upstream is NOT a MLS or a MLS vendor—it will not be involved in the cooperation or compensation of local real estate brokers OR in any local policies.
Now this is what our listing distribution system will look like with Upstream. I have to note—Upstream is the first collaborative venture by industry-wide competitors since MLS organizations were formed. I hope that shows you just how important this initiative is!
The goal of Upstream is to reorder the flow of real estate data through the creation of a central database for agents to enter, store, modify, and then distribute their listing information where they choose. It will connect real estate firms with the recipients of real estate data (such as MLS organizations, personal websites, syndication sites, and more). However, Upstream isn’t just about syndication, it is about efficiency, accuracy, and fostering innovation.
I feel like when I talk about what Upstream is, it’s often important to talk about what it is NOT:
Upstream is NOT a consumer-facing website—it will not compete with syndication sites like Zillow or Trulia.
Upstream is NOT a MLS or a MLS vendor—it will not be involved in the cooperation or compensation of local real estate brokers OR in any local policies.
Customer Experience:
Upstream will provide one record as the source for everything, which ensures improved accuracy across all outlets where the data is distributed.
Data will be entered with a national “data dictionary” standard—providing for industry-wide consistency.
In addition this accurate, consistent data will be distributed in a timely manner—ensuring that data is as up-to-date as possible. Data recipients will have the ability to pull refreshed data as often as they choose—every second if they wish!
This fosters innovation, freeing up vendors to concentrate on new functionality, not data cleanup, and enables brokers to compete on service and consumer tools, rather than data.
Efficiency:
Upstream will move us toward single entry of data—easing pain points for those who belong to multiple MLSs and/or have to then normalize data for their own websites, a particularly difficult burden for smaller brokerages.
Upstream will facilitate data sharing among brokers (by individual agreement) and enable data portability for brokers changing from one vendor to another.
Upstream saves the expensive labor/vendor costs of having to normalize data from multiple MLSs for a large brokerage website and allows brokers to manage a much wider range of data than MLSs ever will store for them (customer data, vendor data, internal firm data, etc.).
Additionally, Upstream enables MLSs—particularly smaller ones—to focus on core mission functions and innovation rather than such a high focus on data management—which could potentially decreases MLS costs to brokers for data issues and lower multiple MLS-member cost redundancies.
Leverage/Control:
Upstream will help track the path of data that is displayed—giving brokers the knowledge of where and how their data is used.
Upstream will facilitate better control of copyright and assignment of rights, giving brokers better ability to establish the terms of use for recipients of the data.
Upstream grants greater control by brokers over distribution, allowing brokers to control not only what data is distributed, but how much is distributed (ex: fewer photos sent to one source vs. another).
Upstream also creates a national clearinghouse for brokers to negotiate deals to earn revenue back on data licensing that local/regional arrangements can’t secure.
Risk Management:
Security and redundancy protects data.
All data stored within Upstream will be secure—data for one participating brokerage will not be accessible to any other brokerage, unless the two firms create an independent agreement permitting such access. Additionally, Upstream itself will not have access to any participating broker’s data, but only may access and/or distributed data at the affirmative direction of the broker.
Upstream also functions as “cloud” backup of data for brokerages.
Recently, Upstream signed an agreement with NAR and RPR to help accelerate product development and improve Upstream’s overall effectiveness.
NAR will provide startup funding, administrative support, and marketing distribution services to launch Project Upstream.
RPR will provide software services to design, build, and host the software necessary for Project Upstream. RPR will also provide MLS management services to onboard MLS markets, training, communications and promotion, and customer service.
And the Upstream Board of Managers will provide product direction and governance of Project Upstream. The Upstream Board of Managers are elected by Upstream participants on an ongoing basis. The Board has seats for representatives of small firms, medium-sized firms, large firms, and networks and franchises.
Recently, Upstream signed an agreement with NAR and RPR to help accelerate product development and improve Upstream’s overall effectiveness.
NAR will provide startup funding, administrative support, and marketing distribution services to launch Project Upstream.
RPR will provide software services to design, build, and host the software necessary for Project Upstream. RPR will also provide MLS management services to onboard MLS markets, training, communications and promotion, and customer service.
And the Upstream Board of Managers will provide product direction and governance of Project Upstream. The Upstream Board of Managers are elected by Upstream participants on an ongoing basis. The Board has seats for representatives of small firms, medium-sized firms, large firms, and networks and franchises.
MLS markets will be selected based on Upstream member presence AND the ability of MLS organizations, vendors, and data recipients to execute (those that have committed to the technology and data integration necessary to RECEIVE data from Upstream).
There will be two pilot periods, each containing approximately 10-12 target markets.
For each pilot market, we will start with an Alpha test:
Alpha testing will consist of only one brokerage in that market.
Within this single brokerage and their designated data recipients and MLSs, agents will be restricted so that Upstream is the only way data can be updated or managed in the recipient’s system—ensuring successful integration with the Upstream platform.
After the Alpha testing, a Beta test will apply the Alpha testing process to all additional Beta offices within the Pilot market. Once the Beta is complete, the market is ready to go an any brokerage can opt into Upstream.
As we enter an MLS market, we have a structured approach to working with the MLS, Vendors, and Brokerages to launch the system.
First, we identify the roles and responsibilities for all entities – we are creating the project team for the market
Next, we will assess the current inventory, software, workflows, etc to determine the development work required.
From that, we are able to build the requirements for that market – validation rules, input rules, record layouts, etc.
After that is complete, we will provision API’s for the local MLS, vendors and brokerage to use and begin testing in their systems.
Once all of that is complete, we are able to begin Alpha testing – one office, very hands on, to validate the API’s and requirements were build correctly.
After alpha testing passes, we will open up testing to a larger group of brokerages for BETA testing. Once passed, we are ready to launch and declare the market Upstream certified.
