Industry Visionary

  • Beverly M. Faull
    SVP & GM, Fidelity National RE Solutions, Fidelity MLS Systems & Solutions

Beverly Faull has been a CEO and senior level executive in the real estate industry for over 20 years. Ms. Faull spent the majority of this time as the CEO for the Tucson Association of REALTORS® and MLS. After her tenure with the Tucson Association of REALTORS®, Ms. Faull accepted the position of CEO of the North Texas Real Estate Information Systems (NTREIS), a regional MLS serving the Dallas / Fort Worth area with eighteen shareholder associations and over 12,000 users covering a 30,000 square mile geographical area in North Central Texas. Subsequently, she served as the Vice President of Installations & Operations for the MLS Division of HomeSeekers.com, where she was instrumental in building the newly formed division’s installations and operations departments.

 

Ms Faull has been affiliated with Fidelity National Real Estate Solutions (FNRES) since the acquisition of HomeSeekers.com MLS Division in December 2001. Ms. Faull served as Vice President of Implementation & Systems Support and, in February 2003, she was named Vice President and General Manager of Fidelity MLS Systems and Solutions, providing MLS systems and solutions to the real estate industry. Based in the Kansas City Metropolitan area, Fidelity MLS Systems and Solutions provides MLS technology and related products and services to over 300 MLS organizations serving over 300,000 agents and brokers throughout the nation. In addition, the group provides REALTOR Association Services through LAMPS, Leading Association Management Processing System.

 

As a former customer within the MLS industry for 17 years, Ms. Faull brings to FNRES a unique perspective on the day to day needs of local and regional MLS and REALTOR organizations, as well as the needs of the agents and brokers served by those organizations. Ms. Faull is dedicated to leading Fidelity MLS Systems and Solutions innovative initiatives, and focusing on providing the very best REALTOR and MLS Systems technology, service and support in the industry.

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As an "industry visionary", what do you see as the major changes occurring in the real estate industry?

While there are many changes taking place in the real estate industry, there are two distinct changes that are driving real estate markets. First, more multiple listing organizations have determined that regionalization and or consolidation is the best solution for their subscribers. At Fidelity MLS Systems & Solutions, we are experiencing more of our customers joining together to create one database of properties serving extensive areas. Second, in many markets, brokers are taking a more active roll in the decisions and future of MLS organizations.

What major "corporate players" are driving change and what may be their impact?

Fidelity National Real Estate Solutions strives to bring innovative solutions to all professionals in the real estate industry.  We work collaboratively with many companies to that end, but two companies come to mind as clear leaders. 

Clareity Security, leading the real estate industry in educating brokers, agents and MLS organizations regarding the need to better secure their most valuable asset, their real estate data, is clearly on the forefront driving advancements in the industry that improve their customer’s business.

ThreeWide is another leader.  By offering innovative data management solutions that provide ease and efficiency of data integration, ThreeWide is changing the way the real estate industry looks at data.


Who are the "individual trendsetters" that are shaping the future real estate industry?

In our industry, we see several individuals leading the charge for new and exciting technologies. Richard Boone from Georgia Multiple Listing Service (GAMLS) immediately comes to mind.  GAMLS was the first MLS organization to contract and implement RatePlug, a real-time mortgage service provided through Fidelity.

Travis Kessler of the San Antonio Board of REALTORS® is another customer that is constantly watching for new solutions to benefit his membership. Most trendsetters are those leaders unafraid of stepping outside the expected norms.  They offer new products and services to their subscribers that will help them transact real estate more efficiently and thereby grow their real estate business.

What are the expectations of the emerging real estate consumer?

In this day of advanced technology, the end real estate consumer is expecting more control over their buying experience. From initial searching via broker/agent Web sites to searching for the best mortgage rates and products, I expect more consumers will want to have more control over their search of real estate listing data. The role of the agent will turn from the provider of information,  to mentor, professional consultant and advisor, counseling buyers in their important purchase.


How should the Brokerage and Realtor Association / MLS respond to these real estate consumer expectations?

It is essential that Brokers and Association/MLS organizations not be afraid to provide the information that consumers want. The industry is changing rapidly and, as leaders, we need to embrace changes that will ultimately be good for the industry as a whole.  Open your minds to new ideas and REALLY think about the possibilities…not just dismiss them. 

I love what Tom Peters says “Perhaps every board needs 20-year-olds who ask embarrassing-but-fundamental questions.”  What embarrassing but fundamental questions would 20 year olds ask about the real estate industry and how we transact real estate in your market or nationally?  You should think about it…they are your future customers.  The kids that have never known a world without a computer are the consumers just around the corner.

What changes should a Brokerage implement to ensure profitability in the future?

More and more consumers are searching local Web sites for potential properties prior to contacting an agent. A comprehensive, easy to use Web site is the number one key to ensuring continued profitability in the market place -- a website that drives and manages leads efficiently and effectively.  Demand that your MLS technology, the central tool that all of your agents use every day that manages all of your listing data, provide the most integrated tool set available in the market to help your agents be the most efficient that they can be.  Efficiency drives higher margins in your business.  It is that simple.


What role do you see the Realtor Association / MLS playing to ensure Broker profitability?

Why do brokers have to enter listing data multiple times to utilize the tools of their trade?  I believe it is the responsibility of the Association/MLS organizations to continually seek out new technologies that can be implemented at the Association/MLS level or broker level that will improve the broker’s bottom line through driving efficiency in the business. 

One point of data entry with efficient transmission of data to the destinations and tools desired by the brokers is a tremendous benefit to helping the brokers increase their profitability.  

In addition, any tools that can be implemented to increase the amount of time that a consumer looks at a brokers listing is of benefit to the broker and increases the potential for a sale.  One such tool provided by Fidelity and HandHeld Power is RatePlug.  These are the types of services and products that Realtor Association/MLS’s should look to provide…today.


Based upon your vision of the future of the real estate industry, what are you doing to help influence positive change?

At Fidelity MLS, we are always searching for new, innovative technology solutions for the Association/MLS organization, broker, agent and end user. This year alone, we have implemented several new products that are all designed to help grow everyone’s bottom line…the brokers, the agents and even the MLS organizations. 

As indicated above, RatePlug is one of those products, as well as Voice Search/Alert technology, PinPoint Mapping solution and GetMediaNow! all of which have been integrated into Fidelity MLS systems.


What books would you recommend as a "must read" that have influenced your vision?

Re-Imagine by Tom Peters.  A must read for anyone leading or facing change in this ever changing world…and that is just about everyone.

What advice would you give Brokerages and Realtor Associations / MLSs to assure they stay relevant and successful in the future?


a.  Stay current on the issues facing the industry.
b.  Embrace technology – it is still in its infancy and the best is yet to come.
c.  Do NOT be afraid of change.  Embrace it.  Some of the most frightening changes bring the greatest and most rewarding results.
d.  Put those 20-year-olds on your boards if you want to stay relevant.

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