The Inman Connect Summit takes place this weekend when about 1,200 industry executives descend on San Francisco to discuss emerging technology issues.  Here the future of real estate hangs in the delicate balance of partnerships, confrontations and 'oops too late' realizations, hanging late into the night, haunting the walkways of the Hilton in fog shrouded Union Square.

Well, at least the future hangs for those of us who like to talk, pontificate, or, as is in my particular case, 'wax eloquent whilst toiling upwards in the night'.  At my first Inman Connect many a deal was made.  The 1,200 industry attendees are the the exact 1,200 attendees every technology provider needs to talk to.  The kind of people that go to Connect are exactly the kind of venturesome cowboys willing to write checks.  Emerging Technology project checks.  Advanced Systems Integration checks.  Or, what less admiring types would call, wild ass bets kind of checks.

The first Connect was mostly new media types courting favor with industry illuminaries - the guys who write the really big checks.  At the second Connect Summit, the halls were crowded with the roaring chatter of many corporate illuminaries, now pregnant with expected new media technology solutions.  Proud new tech providers pranced around the great expectations, with the many johnny come lately's, "newbies" in Connect speak,  clamoring to get in line.

And now, at Connect III, it's time to pick the fruit, or so we shall see.

I expect that many a deal will again be made at Inman Connect.  I mean, an attendee has a simple choice:  watch another power point "vision of the future" presentation crash, or, meet and deal with the movers and shakers - and everyone at Connect moves and shakes.  But I for one will be hunting for evidence of sweet fruit, or at the least, a blossom here and there, the hushed promises of certain things to come.

I am not hopeful though.  Except for the certainty that noble Inman will put on a great show, and even perhaps mount a credible challenge to Stuart Wolff for the industry party animal title, I am not hopeful that this Summit will disclose the stratagems, partnerships and power plays that so electrified Connect's of the past.  I think the industry has moved from talk and possibilities, to action and certain objectives.

Past Connect's featured these highlights:

At Connect I, Microsoft was questioned about their "Boardwalk" initiative.  It was "the" question everyone came to hear the answer too.  Shocking the crowd, Microsoft answered that their web sight would be consumer friendly, and that it wouldn't cost Realtors a thing.  And who would pay for this wonder?  Why, lenders, of course.

And with that pronouncement, Microsoft packed in their demo booth and hustled out the back door before anyone could catch their breath.  Yes, most of the early Connect pioneers were lenders.  To this day I don't know which was of more concern, the announcement that Microsoft was going into the mortgage business, or, the hasty way they fled out the back door.

And yes, at Connect I the Realtor dinosaur carcass, particularly the MLSosaurus species, was elegantly carved and solemnly distributed amongst the feasting new media types.  Munching mightily with their new found industry partners, the taste of the fat hog they expected to slice was almost too good to be true.  Many a check was written indeed.  eLenders and the great One Stop Shopper franchises ruled the Web and ruled the day, or so it seemed.

Connect II was a celebration of these same expectations, with industry participants most pregnant with new media initiatives.   And didn't the new media types let the old guard know it too!  The air smelled of certain success as freshly minted credit cards eagerly sprang for lunch.

How well I remember the catatonic look on Barney Corwin's face (Freddie Mac) following a rude awakening session concerning the new Microsoft - Intuit OFX standard for exchanging financial information.  Brian Mistelle of Microsoft was so kind in his explanation as to how OFX came to be without even the whisper of cooperation or consent from Fannie or Freddie.  Wow.

And then there was fresh faced and oh so young Jim McCarthy of Yahoo!, thanking the crowd for their patience in helping him to understand all the complexities of the real estate~finance industry.  What a grueling and tough six months of effort it had been!  Then the pink faced Jim went on to explain exactly what Yahoo! intended to do with all the real estate consumer business they now felt to be their responsibility.  Getting between traditional practitioners and the consumers whose services they seek is, after all, just another day at Yahoo!

At the end of the day though, Connect II was another triumph for on line lenders, their numbers growing by minute, their expectations moving at the light speed of IPO.  A heavy breathing Cendant prowled the edges, confident too that their day was coming.  And Microsoft?  A carefully scripted, most respectful, effort not to offend.   Robert Cringely of PBS Nerds fame, provided a thunderously rousing bash of Microsoft that proved particularly entertaining to MLSosaurus types.  Curious yet satisfied they were.  An XO sitting next to me growled approvingly, "We'll show them who owns the data".  Still rings in my ears.

Keeping things in balance, noble Inman closed the show with techno entertainer Roald Marth, shilling and boot licking for Microsoft and getting a standing ovation at that.  What a performance.  Whatever Bill Gates is paying, it's no where's near enough.  Roald really turned that tough crowd around.

As I enter Connect III, my expectations are surprisingly few.  For me the NAR Convention in Anaheim signaled the emergence of the empowered broker owner.  They are taking control of the data, the sales force (yes, sales force!) and the relationship with consumers.  Nothing less than the broker re engineering of the business process will be accepted.  Technology will work to further their interests rather than that of new media interlopers.  The determination of brokerages at NAR was unmistakable.

Coming out of NAR, feeling the transcendency of the moment, broker owners are most ready to write checks.  They are seemingly ripe for the techno picking at Connect.  But, unlike with past Connect Summits, I don't expect these brokerages to be talking or sharing their plans.  Connect III will be an every man for themselves, interlopers beware, event.

So I expect many a misleading power point presentation and many a doubtful discussion.  Hushed tones and secrecy will follow tepid introductions where friend or foe decisions are measured by kill or be killed attitudes.  Lots will happen but few will know.  For the industry at large, these mannerisms will mark the emergence of truly determining systems where hype has finally been replaced by efficacy.

What would I like to see at Connect III but won't?

Wouldn't it be great to have Microsoft declare that never will they collect Realtor referral fees for leads generated by hosted property web pages?

How about Microsoft announcing that all publication and information exchange formats used at both their server sites and within their desktop applications will be consistent and compliant with international Internet standards, especially those regarding multimedia data types?

Here's a good one.  How about's Norwest Mortgage, Weyerhaeuser and Mellon Bank explain how they are using Aspect Call Center Routing and Processing technologies to synchronize and integrate property page viewing consumers with loan origination personnel?

How about CountryWide Mortgage explaining their LoanWorks initiative with Microsoft?  Or better yet, what about the Plano Texas advanced call center that can not only synchronize web viewing consumers to loan origination personnel, but will deliver first ever "real time conversion" capabilities.  This interaction and connectivity is absolutely critical to the future of eCommerce, and CountryWide is cutting out a world leadership architecture.  The venture is nothing less than the ability to convert a consumer at the "point of information" to a "point of sale".  85% of global consumers using the Web for information end up taking their transaction off line and local to perfect.  IDC reports that the average response time for an Internet request is five days!  What if someone called your real estate office and it took five days to get back to them about an Open House?

Real Time Conversion is the missing link that all eCommerce ventures so desperately need address.  And the chances that Cameron King will share his project at Connect?  Nada, zip, zilch!

Will Dale Ross, CEO of the MLSyrannosaurus Rex, MRIS, explain to the Connect throngs his next generation Gilat Satellite Project?  Will he disclose his prototype for leveraging video streaming property tours as the transaction moment in a cross industry, visually interactive future?  Will he discuss visually interactive agent training conferences and consumer HomeBuyer/ HomeOwner seminars?   In your dreams!

And let's not forget Joe Kazzoun, head of the infamous NRT networking roll out project.  Will he share his infrastructure blueprints for an advanced layered system? One designed to step his brokerages through a network of ISP, Web Hosting, Cross Selling, Predictive Modeling, Data Mining, and Universal Call Processing, Transaction and Routing systems?  In my dreams!

Will Bill Jansen of Pacific Union finally disclose to the world how they managed to create a cooperative environment between commissioned agents and transaction servicing employees?  How does he manage to host the regal needs of highly commissioned, top producing agents, while meshing profitably with the employee based, buyer broker "retail" store front network called Soma Living?  Inquiring minds want to know!

Or how about Jim Meader, the RE/MAX Broker Owner pioneering the conversion of the RE/MAX Satellite Broadcast system to a highly interactive, IP based, network?  Will he talk at Connect about the RE/MAX vision of next generation satellite based, visually interactive training?  Imagine all that great RE/MAX training and designation content being delivered to every desktop via interactive browser.  Where agents can interact with instructors and trainers, earning designations and credits, yet still able to answer the phone and service ringing client needs.  Hello, Jim Meader won't be at Connect for anything noticeably other than to munch oh noble Inman's tasty hors d'oeuvres and dance the night away.  Loose lips sink RE/MAX ships.

And finally there's that deal between HomeShark and Homes.com.  I fear that it's going to take the jaws of death to pry open the quiet exchanges between the Ned Hoyt crew and the Jay Westmark gang.  Some say that there are 85,000 agents in Florida heading for a "desktop to Yahoo!" love fest with millions of eRaging, American Dream seeking consumers.  Now that's something fit for all our dreams!

Will Connect III deliver?  Yes.  Definitely and most emphatically yes!

Will we know about these things?  Power point indigestion, yes.  And great party, yes.  Noble Inman never disappoints even if Stuart Wolff, king party animal, is a tough act to follow.

But will we know about the stratagems and plans, the relationships and projects?  No.

This time, at Connect III, the future of real estate belongs to those who are doing it.  And for those who talk about it?  Time to say good night Irene.

Published: December 2, 1998

Use of this article without permission is a violation of federal copyright laws.

---

Editor's Note: This article reflects the opinions of Gary Edwards only and not necessarily the views of this or any other publication, organization or Website owner.