With all of the consolidation that is happening in real estate today, one might think that we are well on our way to having a handful of MLSs remaining by the end of 2020. Clearly this is an exaggeration. When WAV Group works with groups who are considering their options related to MLS mergers, we always start with a deep understanding of the motivation. There is really very little economic savings once an MLS eclipses 20,000 subscribers. The savings to larger MLSs are really not that significant after that. A dollar here or there is not really going to move the needle to deliver more for less.
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The world we operate in is getting smaller and more connected every day. Now that the real estate market is solid again, brokerages are reaching out and expanding into new markets. Consumers are getting more sophisticated and expect their agents to be able to provide them access to all listings in their region. Homebuyers don’t care that there may be more than one MLS in the region where they live. They just want ALL of the listings available in their area from their agent. WAV Group thought it would be interesting to take a look at the state of data [...]
California Regional MLS and MLS Listings have reached an agreement to share MLS listing data. This is an important signal of MLS strategy in California for a number of reasons. These MLSs are planning to share data by sending data to each other for display in each other’s system and use by each other’s subscribers without the need to belong to both MLSs. Previously, CRMLS only pursued data sharing through CARETS™, a hub and spoke data share product developed by MRIS. Through this new sharing agreement with MLS Listings, CRMLS now has adopted three initiatives to create a statewide MLS [...]
Before REALTORS® Property Resource (RPR) was conceived, the National Association of REALTORS® was working with their realtor.com partner, Move, Inc. to develop a library of information on every property in America. NAR selected another vendor and developed what we know as RPR today. MOVE took their prototype and developed a free product called FINDSM. FIND is proprietary software for MLSs that provides property centric data on more than 100 million real estate parcels in the United States, and offers agents and brokers access to timely, accurate and reliable listing information across MLS boundaries. Available as a link or a toolbar [...]
I caught this on the Real Town blog today. It was published by Thomas Wissel, Information Technology, Toms River, NJ Jersey Shore MLS, Middlesex County MLS and Trend MLS are now using the MarketLinx Data Co Op to efficiently share listings between 3 different MLS platforms. This may be “old hat” to other MLS operators in the country, but NJ has been rooted in the past by forcing agents to subscribe to multiple services. There are 9 MLS services that cover the state and right now only 3 have fully embraced the notion of making it easy on the users by [...]
A few weeks ago, posts on social media popped up about the National Association of Realtors® MLS Consolidation Grant Program. The formation of this grant program came about through NAR’s President’s Advisory Group (PAG) and offered three types of grants for MLS’s to pursue.
The Great Lakes Repository Expands Offers of Cooperation and Compensation Among 19 Participating Organizations Sharing Data
In the real estate industry, the collection and distribution of real estate listing data has been a hot issue for many years, and The Great Lakes Repository (GLR) has made tremendous headway toward solving those data issues. The GLR is comprised of a group of MLSs and REALTOR® Associations (participants) in Michigan that have agreed to share listing data with other participants using a repository method of sharing. Under this method of sharing data, all participants of the GLR run their own MLSs; enforce their own set of rules; manage their own membership; control their own MLS products, but cooperate [...]
Here comes CARETS – launch of the enormous MLS datasharing effort in Los Angles and Southern California
Like the fires that are ripping through California today, CARETS, the Southern California data sharing initiative is improving access to MLS information for brokers and agents. Welcome to The World of CARETS® CARETS – NOT a promise of things to come tomorrow: CARETS is live TODAY. […]
Today, three of Ohio’s significant MLSs have announced a reciprocal access agreement. All three are CoreLogic Matrix markets, eliminating the need for agents to learn a different system when they link into the other MLS market. This is a very cost effective way to accomplish many of the goals of data sharing. Kudos to the folks in Ohio that discovered the vision for collaboration that is appropriate for their area.
RESO Broker Advisory Group's workshop last September pushed some hotly debated topics among its members. One subject receiving a fair amount of back-and-forth dialogue was Marilyn Lund's concept of a "TSA-Precheck" program for data consumers requesting access to real estate data.
Google continues to enhance the tools available with a G-Suite subscription. My eyebrows frown when I learn an organization’s Marketing or Operation teams are not taking advantage of one of the Business Intelligence (BI) tools like Google Data Studio. Last week, the Data Studio team just released a bunch of new enhancements and training for their G-Suite customers.