With Triangle real estate prices increasing, listing database provider TMLS has new executive – WRAL TechWire

December 17, 2021 by No Comments

CARY – The organization that manages the listing database of available and closed real estate in the 16-county Triangle region, Triangle Multiple Listing Service, has a new executive director.

Matt Fowler, joined TMLS, which is managed by the Raleigh Regional Association of REALTORS (RRAR), earlier this month, and sat down for an interview with WRAL TechWire recently.

Matt Fowler, executive director of Triangle Multiple Listing Service

Fowler, who after college began working at a camera shop only to have a friend of his coordinate a meeting with his boss, a real estate appraiser with a doctorate in mathematics, found himself working in a commission-only role for the appraiser’s company.

“I would write appraisal reports, and he would give me a portion of the fee, so that’s how I got into real estate,” said Fowler.

As it turned out, his boss took an outdated mathematical model that had been used in the mining industry, and applied the underlying mathematics to the real estate industry, using the model to accurately predict home values, nearly 20 years before the term “automated valuation model” or its abbreviation, AVM, came to be used as a term for modeling values of existing properties and transactions within a real estate database, such as those managed by multiple listing services.

“Back then [1993], there wasn’t a name for this, we called it “Stan’s crazy idea,” but it actually worked, so while we were using it, and selling it to banks,” said Fowler.  “The MLS in our hometown approached us and said, well, if you can do that, then you can help us, and that was two years after AOL started, so it was super early.”

Fowler became a technology entrepreneur, assisting multiple listing service organizations in bringing their databases online at the dawn of the Internet age.  “We won a bunch of competitive contracts across the country,” said Fowler, in the early years, enabling the company to grow to the point of being named to the Inc. 500 list for fastest-growing companies two consecutive years in 2004 and 2005.  “Winning a contract in your hometown is one thing, but winning in Los Angeles, when you’re in Alabama, is something else,” he said.

Fowler sold the company to a well-respected competitor, FBS, whose CEO Fowler jokingly referred to as a “frenemy,” then stayed on with the organization for an additional three years.

He left the company in 2020 as it sold off a portion of its business and became a new company, TRIBUS, and he also moved to North Carolina.  When David Phillips began as the head of the Raleigh Regional Association of REALTORS …….

Source: https://www.wraltechwire.com/2021/12/17/with-triangle-real-estate-prices-increasing-listing-database-provider-tmls-has-new-executive/

Tags:

Leave a Comment

Your email address will not be published. Required fields are marked *