Victor Lund is involved in some of the most ambitious initiatives in the real estate industry. Including Upstream and Broker Public Portal, Lund is passionate about solving big problems, and whether or not you agree with his approach, his willingness to advocate for change deserves respect.
Victor Lund
As the founding partner of WAVGroup, he serves as a consultant to large brokerage firms and MLSs with a particular focus on operational effectiveness, communications and strategic planning. Lund is also the founder and CEO of RE Technology, a leading real estate technology and media portal in the U.S.
Today, Lund shares how he made the transition from venture capital to real estate consulting. He discusses the role of RE Technology and its unusual practice of inviting companies to read its articles in advance of publication.
Lund defends his advocacy for the Upstream initiative, explaining the scope of the project and the many benefits it will provide for industry players. He also speaks to the intent behind Broker Public Portal, clearing up misconceptions around how Homesnap functions as a partner rather than a vendor.
Listen in for Lund’s insight on tackling difficult challenges in real estate and cooperation as the way forward.
“You can change anything you want to change. People can sit around and complain all they want, or they can do something about it. We’re consultants. We want to go do something about it. We’re tired of talking about it. Let’s just go do it.” – Victor Lund
What’s discussed:
- Lund’s transition from VC to real estate consulting
- The role of RE Technology as the CNET for real estate
- Why RE Technology shares its articles before publication
- How WAVGroup’s research department sets it apart
- The significant disconnect between brokers and MLSs
- Lund’s participation in controversial initiatives
- Upstream
- Broker Public Portal
- Lund’s insight on the benefits of Upstream
- Ease burden of agent onboarding checklist
- Instant automation of systems migration
- Efficiency for vendors to deploy products
- Data sharing between MLSs and brokerages
- Facilitates data integration (acquisitions)
- Automate systems (photographer, records creation)
- The incredible scope of the Upstream project
- The timeline for getting Upstream up and running
- Why Upstream uses Web API rather than RETS
- Lund’s Upstream pitch for small brokerages
- Premiere information management system
- Why fear is the greatest challenge for the Upstream initiative
- The impact of “Add/Edit” on an MLS and its related market
- The intent behind Broker Public Portal
- Reimagine way consumers get info
- Consumer-facing website, benefit MLS
- The joint venture between Broker Public Portal and Homesnap
- How change of control provisions are built into the BPP/Homesnap contract
- How Homesnap reinvented itself as an industry partner
- The concept of a parcel-centric database
