Doorify Real Estate Podcast

Tools That Help Agents Stay Connected with Clients with Kevin Greene

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0:00 | 18:25

AI is changing everything, but in real estate, it’s not replacing the human connection. It’s helping agents stay relevant long after the closing day.

In this episode, I’m joined by Kevin Greene, Senior Vice President and General Manager at Cotality (formerly CoreLogic), the team behind Matrix, OneHome, and Realist. We talk about how smart tools are reshaping the way agents connect with clients, before, during, and long after the transaction. 

Kevin breaks down how AI, behavior data, and client engagement tools are working together to support agents as lifelong advisors, not just dealmakers. We also get into Cotality’s newest platform, OneHomeowner, and how it’s designed to keep that connection alive years down the road. 

Kevin gives us an inside look at Cotality’s ecosystem, including how Matrix powers the agent’s daily workflow, how OneHome keeps clients in the loop, and how Realist puts key data at your fingertips.

If you’re ready to build longer-lasting client relationships, this one’s worth your time. Hit play to hear what’s possible when AI, data, and smart platforms work for you.

Specifically, this episode highlights the following themes:

  • How agents can use AI and client behavior data to stay relevant
  • The role of Matrix, OneHome, and Realist in supporting client relationships
  • Why the agent’s role is shifting from transactional to advisory

Links from this episode:

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Matt Fowler [00:00:00]:
So Kevin is senior vice president and general manager of Cotality, Formerly known as CoreLogic.

Kevin Greene [00:00:14]:
Yes, the artist formerly known as CoreLogic.

Matt Fowler [00:00:16]:
There you go. There you go. I wish we had a symbol. A lot of you may not know that CoreLogic is the largest in terms of total number of MLS subscribers in the country. I think Matrix probably has the most.

Kevin Greene [00:00:28]:
It depends on what you are using as a metric. But as far as number of subscribers, yes, we have roughly depending on the platform, we average about a million agents on our platforms.

Matt Fowler [00:00:39]:
That's a lot. So we've got some questions for Kevin today. Kevin and I have known each other for a really long time. We've both been at a number of prop tech companies and it's fantastic that we get to work together now. We were able to bring Cotality, then CoreLogic into this market with the Alamance merger. When Alamance joined us three years ago, they had been using Matrix for a long time and didn't want to change. And they were kind of on the fence of whether they wanted to join Dorify or not, if they were not really eager to, if they were going to have to use another platform. So we worked it out where our data can be the same in both and they can use whatever they want.

Matt Fowler [00:01:18]:
That's what choice is about. So that's how we ended up with Matrix in the platform. And since then, we've got a bunch of people, not Alamance people, that have migrated over to Matrix because they really like One home or they really like Realist or they really like some other aspect of Matrix. So Kevin and I had a chance to sit down for a second and talk about the future of Matrix and One Home and Cotality. I guess my first question is the thing I'm most impressed about. But when you look at Cotality's investment, we're talking about AI in AI, maybe specifically in one home. Tell us a little bit about that and why you think that's important for the future.

Kevin Greene [00:01:54]:
Well, I think we got to start with what is AI and where does that come from? Because some of you may or I've said this a number of times lately, so I don't know if you've heard it, but you know, I play golf. My friend came to the putting green with a AI putter from Callaway and I'm like, does the putter putt for you? Does it show you the line of being able to do that? It's like everybody slaps AI on anything and thinks that's just the latest and greatest. And here at Cotality, formerly CoreLogic. We have been doing AI artificial intelligence for over 40 years. It just depends on what you're talking about. That is, it's where is that data? Because at the ultimate baseline is Cotality is a data company. We're the largest aggregator of residential property data in North America. And so we use that data for AVMs, automated valuation models.

Kevin Greene [00:02:43]:
We've been doing that and providing that to loan originations, banks, mortgage companies for quite some time. For those that don't know if they know who the Case Shiller index is, that's published every month. That's Cotality. We provide that being able to show what the housing index is based upon the data that we do. And so that data creates those models. And now we're moving into large language models to be able to do that. But to have that and to have good AI, you have to have good data to come from. And so that's the baseline and that's why I kind of start there.

Kevin Greene [00:03:14]:
And so it also shows that you got, you have access to a lot of AI tools within Realist and that now propensity to sell, propensity to buy. What is the, you know, average home price. CMA is actually a part of. It can be considered an artificial intelligence model to tell you what you should price a home at. And so that's the baseline of what we've been doing. But what we got coming up and what we've done with One home, similar match as far as being able to upload photos and having consumers being able to upload, you know, being able to see properties that are similar to that bathroom or kitchen or an outdoor space that I would like to be able to have there, reimagining a space, removing all of the furniture, placing something from the local furniture mart that's down the street in High Point, all the furniture manufacturers that do that and stage their things so people can go to furniture, Martin, you can put that stuff right into your home and being able to choose that furniture right away. And so we're seeing a lot of interaction with consumers on that, which is keeping consumers engaged directly with their agents on one home.

Matt Fowler [00:04:19]:
That's really the point of that, right? It's the stickiness of keep keeping them back in that. Actually the point of my next question to also One Home. Let's stop for a second and talk about how that fits. So Matrix is the kind of desktop platform that's most people think of when you think of CoreLogic or Cotality, one home's the app. Tell us how that, how that fits Kevin.

Kevin Greene [00:04:41]:
So I consider we call it the Matrix ecosystem now to make it easier. And there's, there's four parts to it. So the first part is Matrix where you put your database that you're doing your daily work in. It has two parts we believe in a responsive design. So you can go to Matrix on your desktop, you can type it into your phone or tablet and being able to access at a responsive design. But then we also have mobile version called MLS Touch and that we bought a mobile company, the leading mobile company up in Canada. It is the leading real estate app.

Kevin Greene  [00:05:12]:
In both the app and Play Store. So you have access native app to Matrix. We also have that to One Home which is next is One Home is our client collaboration portal which allows agents to interact, send listings, being able to have consumers look at properties, search for properties all within your environment. It's agent invite only. Nobody can go to one home.com and just all of a sudden be able to search for properties. They have to be invited by their agent. If they do go to one home.com they're asked to who is your agent? So you're not going to lose them that way. But we're actually with One Home, we're the sixth largest portal in the United States for active searches.

Kevin Greene  [00:05:54]:
We have 22 million consumers that come to one home on a regular basis. 22 million consumers who are interacting with their agent. There's only five portals that are out there that are a beat us and those all use, you've all heard of them, they're the top portals out there. But we really want to keep those consumers engaged with those agents and being able to do that there. And the fourth pillar in the ecosystem is Realist, as you mentioned. So we take all that data that I just talked to you about as far as aggregating that data that we do at Cotality, and we give that to you at your fingertips in real. So anything that you want to know about that property, you can go to our Realist database and being able to search in there. And so that's how we keep everybody in there.

Kevin Greene  [00:06:36]:
The last piece, which I don't know if you're going to ask me about, but One Homeowner is our newest piece that we're doing. And so how do we keep that client sticky with you, as you mentioned? I like to say that trying to incorporate that a little bit more of with that cons. How do you keep that consumer with your agent after the transaction? Here's a stat. I know I was on stage two years ago and told you we were putting this product together and thank God, you know, it's launched and ready to go. But 88% of consumers say that they would use their agent again, yet only 13% do. And what happens when you have that sale and, and five to seven years down the road or the four days happen, you know, diamonds, diapers, divorce or death. And they need to make a change.

Kevin Greene [00:07:20]:
And where do they go?

Kevin Greene  [00:07:21]:
They just go to whoever they've been talking to. But how do you change that mentality from being a real estate agent to a home advisor and advising them on their homeowner journey throughout their life cycle? And so that's what we're doing with one homeowner is creating that conduit of continually telling them what's going on with their home throughout that process. And all the cool things about it is, is when that consumer is, is doing whatever they do within one home, are they searching for new products, are they looking at what their home is worth, etc. You get notified so you know, if their real estate window is open in their mind and you can give, you know, a call and say, hey Matt, I saw you were looking at what your home value is. Are you looking at, you know, adding on a kitchen or doing something or are you looking for, trying to find.

Kevin Greene [00:08:07]:
Something else or what can I do.

Kevin Greene  [00:08:08]:
To help you with.

Matt Fowler [00:08:10]:
That's really interesting, Kevin. A lot of people are in that space like it's a pretty red ocean to try and keep that buyer in touch with the, with the agent. That's a new play at it. It's not a question I had put together, but those are some huge numbers on the portal. Consumers using that every time they click something they tell the system their preferences. Tell us about that exhaust data and how you guys plan to use that in the future.

Kevin Greene [00:08:35]:
We don't plan to use any of it. We give it all back to you. That's the awesome part.

Matt Fowler [00:08:39]:
So yeah, I don't, I don't mean how you would leverage it to in a bad way. I mean how would you use it in the product?

Kevin Greene [00:08:46]:
So everything they do, the age the agent gets a ping on. So that's the biggest thing is, you know, now when you get into the AI questions that's the next piece as far as we are building an AI chat bot even help more. And so what gets sent to, back to the consumer to be able to do that. So obviously if it's post sale and they're searching for. I'm located in Greensboro, North Carolina. I have two kids down here in Raleigh and I got one kid up in Boone and you know, am I looking for an investment property up in Boone or you know, in, in Blowing Rock or, or somewhere up there to maybe for him or am I looking for an apartment here that I can have for my two kids that are here in Raleigh? What can I do? And all of a sudden that, that's giving it's prompts that being able to do that. So any of those prompts that are going on, we want to get that back to the agent and being able to do that and that shows up on their dashboard. But the last thing is what do you do with it? And so that's the next, the next phase of being able to manage that.

Matt Fowler [00:09:42]:
Yeah, that's super interesting. That's where I think a lot of our thoughts are at Dori. We have stats coming in from everywhere. Central lock, showing time, you guys, all of the front end vendors, all the consumer portals, realtor.com, zillow, et cetera, et cetera. Dozens love them. Literally. And what, what we're learning is which, which matter. It turns out that the most, I don't know, a recent finding was looking at traffic events and then do they correlate to a sale event or does something go pending right after a spike on, on the portal or on Zillow? And it turns out that the most direct indicator is Realtor traffic.

Matt Fowler [00:10:21]:
So inside matrix, inside paragon, inside Flex mls, if we see an increase on a particular property that often precedes a.

Kevin Greene [00:10:30]:
Sale, that's been, and those are amazing stats. And here's my favorite one that I like to talk about because you like everybody wants to be the number one portal out there. So there's 360 million consumers that access the number one portal, Zillow out there on a monthly basis, you know, in a good year. So I'm going to use easy math or bigger math because right now I think we're hovering just under 4 million transactions a year. But 5 million transactions is what we typically do. And even if you had both sides of the transaction, that's only 10 million people. Okay, now let's even make it higher.

Kevin Greene  [00:11:02]:
So that you have a husband and.

Kevin Greene [00:11:03]:
Wife or a partner or anything. And so that's 20 million people that are going to buy or buy a home in any given year, yet you have 360 million that are looking at homes on Zillow or any of the other portals. And so how do we have those high intent buyers and agents? And that's what we are, buyers and sellers and how do we have those and access and tracking those and making sure that the agent knows this is truly a good place to spend my time. And that's what we're doing.

Matt Fowler [00:11:28]:
That's super interesting. I can't wait to see more of that because the. I think I said earlier that the Internet reduced the cost of data and AI is reducing the cost of knowing or cognition, they say. Interesting. So got a few minutes left here, Kevin. I've got two questions. One is about, I guess tangentially about AI, but if we can look out. You just said you were here two years ago and I asked you a similar question.

Matt Fowler [00:11:52]:
Looking out when we're sitting here two years from now, what is the definition of success for a broker? How do you think that will, will be impacted?

Kevin Greene [00:12:04]:
I think the big thing is you have, for a regular real estate broker, you have everybody trying to get into this space. So let's just, we'll break it down. Like, you know what happens now when Rocket Mortgage buys Redfin and now they're in the broker space and how does that work? And they have the fourth largest portal as far as traffic is concerned and where does that go and how do I keep up with that? And I think that's the big thing of changing that mindset of they need to be able to change that mindset of I'm just trying to do this transaction and how can I keep that person for life. And it's funny is everybody's always tried to find, you know, downstream services, whether that's mortgage, insurance, title. But what do you do between the time you sell that property for them or buy, help them buy that property and they're going to that next one.

Kevin Greene  [00:12:50]:
And where are they going to be.

Kevin Greene [00:12:51]:
And that's where they're going to really make a difference. And how do they continually tell what is that investment that they made, how much are they making on it? Oh, great, you're doing a great job. You know, you put, you know, you have $100,000 of equity in there. Would you want, you know, are you wanting to update like we talked about when you did that? Are you looking at selling? What are you going to do? And really being that home advisor is what's going to truly differentiate. Just been somebody that's just buying and selling homes.

Matt Fowler [00:13:16]:
I think I heard you say that it's the same like two years from now. That's true today. Right. So the fundamentals of the business AI ML all that stuff notwithstanding, is just not the thing to focus on.

Kevin Greene [00:13:30]:
No fundamentals, no in my mind, for.

Matt Fowler [00:13:32]:
Full disclosure was saying to interrupt you, full disclosure.

Kevin Greene [00:13:35]:
I was an agent broker 20 years ago. I mean that's, you know, the biggest thing is I've been in, in your shoes and I understand that, you know, a consumer is making their largest purchase. They want to have their handheld through that process to make sure that what's going on, right. AI is not going to reassure them. They're not going to go in there and go and have Gemini tell them or chat GPT or whatever service they're going to do and make them feel comfortable as they're about to put, you know, their life savings as a down payment or the most amount of money they're ever going to buy, whether it's their first, second, third, fourth home. And so how do you arm them, arm yourself to better hold that hand and get them through that? That's what it is. And then wait, they're going to do it again. And so being there for them is so important.

Kevin Greene [00:14:19]:
And so getting that knowledge and having that information is, is, is key number one of, of being successful and maintaining that relationship throughout.

Matt Fowler [00:14:28]:
So maybe use AI, as sky was saying, to help you make those relationships or spend more time on those relationships and less time on, less value added work.

Kevin Greene [00:14:39]:
100%.

Matt Fowler [00:14:40]:
We're pretty close to the end here, Kevin. I want to ask you one last question before we move on and before I do. If you go to dorifimls.com survey, you'll see our active survey results. And Matrix currently has a net promoter score of 35.5. 48% of the people responding to the survey said that they loved Matrix. Matrix has the lowest number of detractors of the three platforms that you have in front of you. It's the largest number of subscribers in the country. A lot of people use Matrix and rely on it for their real estate business.

Matt Fowler [00:15:16]:
If you've not used it, you as a Dori subscriber can switch from any of the platforms to Matrix for free. And you can add Matrix as an additional platform, as about 400 of our subscribers have done. So you can use 2. Cost an extra $25 to do that. So just recently, Kevin, you and I were talking a lot about security. We have more fun things to talk about sometimes, but I know that Cotality is really taking a leading role in keeping this data secure. Tell us a little bit about security and Cotality's commitment to that.

Kevin Greene [00:15:50]:
Yeah, thanks, man. I think it's really important for everybody here. So how many people have changed their password in the last 90 days, not their MLS password. Any passwords?

Matt Fowler [00:16:01]:
Nobody?

Kevin Greene [00:16:01]:
I got one.

Matt Fowler [00:16:02]:
Okay. I got one. Worse than admitted.

Kevin Greene [00:16:05]:
It's so important security right now. It doesn't matter whether or not you're using. You know, I'm Marriott Bonvoy guy. Sorry. I know we're in a Hilton but you know it requires multi factor authentication which I think is key. And being able to do that and securing your email, your, your bank account, any of that information can be used to get into a back door. And so we're a really big proponent of that. And it's, you know, it's as one of the folks that we, that we contact with make it fun and make it funny and he calls it the danger finger of how fast you swipe or hit.

Kevin Greene [00:16:37]:
Yes is really can hurt you and being able to get into it. So we make a really big deal about it. Not just, you know, we don't just talk about it. We practice what we preach. We actually send out fake phishing emails inside our own company and if you click on it, you have to go take a remedial class on it and if it's three strikes you're out. Unfortunately, that's how you know how serious it is to be able to do that. And so we really take it seriously. We also create a library of videos, very short videos from 30 seconds to 5 minutes long that you can share with your, your members.

Kevin Greene [00:17:14]:
They have full access to it and I actually share it with my, my, my parents, my in laws. Everybody should be aware of what's going on from a cybersecurity standpoint, whether or not it's the phishing emails, whether it's the DMV text you get if you don't turn on mfa. We're going to put in some other security measures captcha and other things inside the platform. So we made it mandatory. We spend over $30 million annually for cybersecurity within Cotality because Cotality is a large company. We have mortgage Title insurance, the GSEs, the government entities. So we do have to have a higher level of security but we take it very seriously and we want to make sure everybody else is too.

Matt Fowler [00:17:56]:
That's part of the value proposition and I wanted to get that in there as well as all the product stuff that we're so excited about.

Kevin Greene [00:18:01]:
Thank you Kevin.

Matt Fowler [00:18:02]:
Thanks for joining us today. We really appreciate it.

Kevin Greene [00:18:04]:
Absolutely. I appreciate you inviting me. And if you want, please go try out Matrix. We really are proud of it and I think you'll be too.

Matt Fowler [00:18:11]:
Thanks a lot. Kevin Greene from Kotality.

Kevin Greene [00:18:12]:
Thank you.

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Matt Fagioli

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