by G. Sax, Head of Communications, RESO
This week’s interview is with Patrick LaJeunesse, the Chief Data Officer for Hive MLS. We talked about in-state competition among MLSs, sharing your work experience and LL Cool J. Enjoy!
Q1: Your MLS is located in a fairly crowded and competitive space. In the time I’ve been in real estate, I’ve seen the market share of North Carolina MLSs shift and brands adjust. This seems to be the exact kind of competition that benefits the industry. My question to someone on the inside: Is it a friendly sort of rivalry?
Patrick: The atmosphere among the various MLSs in North Carolina is notably friendly. Not long ago, we had over 30 MLSs in the state, but that number has now dwindled to around 13. Each of us is dedicated to delivering comprehensive listings, market insights, collaboration opportunities and valuable tools for our subscribers.
For brokers, the MLS serves as more than just a tool; it is a fundamental component of their business strategy, empowering them to navigate the complexities of the market with confidence and expertise.
We understand the unique challenges faced by brokers operating in regions that overlap multiple MLSs. Although direct data-sharing agreements may not be in place, we are committed to exploring collaborative solutions. By utilizing resources such as showing services, lockboxes and other effective tools, we strive to bridge the gaps and enhance operational efficiency for these brokers.
We do not engage in aggressive promotion of our MLS. Instead, we prefer to let our work speak for itself. When MLSs inquire about us, we are more than happy to share what we are doing. Maintaining open communication with neighboring MLSs is crucial, and we prioritize fostering these relationships. We actively engage in dialogue with all of our neighboring MLSs to ensure a collaborative environment.
Q2: Speaking of crowded, you are not someone who is short of opinions in a crowded room of peers. What do you attribute this confidence to, and what are some things that you are thinking about?
Patrick: With two decades of experience as a real estate broker, along with a solid foundation in finance and technology from the dot-com era, I have also spent many years in marketing and communications.
It is disheartening to see the real estate industry lagging nearly a decade behind in technological advancements. The resistance to innovation and the commitment to maintaining the status quo can be incredibly frustrating.
For instance, during an open forum, larger MLSs often discourage smaller peer MLSs from creating public portal websites, citing the dominance of major platforms. Ironically, some of these advising MLSs have their own websites and are invested in platforms of their own.
I strongly believe that every MLS should enhance transparency with the public, and that public MLS portal websites are the most effective way to achieve this goal.
Also, as we navigate the rapidly changing landscape of real estate, the integration of new technologies brings with it an urgent need for robust cybersecurity measures. It is concerning that many MLSs are still significantly behind in this regard.
While phishing attempts may seem outdated, we now face advanced threats like FraudGPT and harmful chatbots like WormGPT, which can be exploited by individuals without any programming skills.
Even the most vigilant among us are not immune to these risks. I urge our industry to enhance its preparedness for these inevitable challenges. Staying informed and proactive is essential for our collective success.
Q3: Whenever I see you, you are sporting a Kangol hat. The only other person I’ve seen as loyal to that brand is LL Cool J, and I have to assume he’s getting paid to wear it at this point. Where does your affection come from?
Patrick: I can’t help but smile at my fondness for this brand! Their bamboo hats are not only environmentally friendly but also exceptionally comfortable.
And, really, who can say no to a kangaroo? I mean, who doesn’t love a Kangol? It feels like wearing a tiny slice of Australia right on your head!
Perhaps I should consider asking them for a sponsorship too. Haha!
Three Questions is an interview series that features real estate industry professionals, their businesses and how they interact with real estate standards in a fun way.
