Each year, I try to find some of the things you won't want to miss at the annual National Association of REALTORS Conference and Expo. This week, some 20,000 real estate pros are expected to take over Boston, one of America’s great historic cities packed with extraordinary tourist attractions.
There’s so much hype these days that make every MLS believe the ONLY way to better serve the needs of brokers is to consolidate. The truth is that there are TONS of practical and achievable ways to help your members save money and make it easier for them to be successful. Sentrilock Lockbox partnership IRES and Pikes Peak, two leading MLSs are partnering in a really powerful way to provide a quick win for more than 10,000 Colorado real estate professionals to do business. In the same region rife with drama and conflict, these two MLSs have come together to [...]
Consolidation of Associations and/or Multiple Listing Systems (MLS) at any level has its pros and cons. Consolidation can tip the scale in the way that it improves the business, the industry and most importantly, how it impacts all the stakeholders. This of course includes the consumer who is at the top of pyramid!
2018 could very well be the “Year of Consolidation” in the MLS industry. With the recent NAR move towards an “MLS of Choice” policy, we are likely to see a huge momentum build towards consolidation, especially in the second half of next year. That’s because smaller MLSs are going to find profitability under their current pricing model impossible. The simplest (and most often the best) solution will be to merge. By failing to plan for the role communications and PR plays within a consolidation, you are planning to fail. That’s because an effective communications and PR plan is vital to [...]
The MLS industry faces rapid consolidation within the next few years. In just the last couple of years, the WAV Group estimates that the number of Multiple Listing Services firms have shrunk by about 15 percent, from about 750 to some 650 today. And that’s just the beginning. This is not a new business phenomenon: the energy industry over a 20-year period, from 1995 to 2015 has shrunk by half. In travel today, 16 cruise ship brands are owned by just three firms, as are the nine major rental car company brands. Only 7 hotel conglomerates own the 80 hotel brands that dominate [...]
I had a feeling during the recession that the pillars that held our industry in trust had cracked. The first of two pillars of trust is the National Association of REALTORS® as fully constituted by its local, state, national, and international chapters. The second pillar of trust is the Multiple Listing Service. History has taught us that when you apply pressure to any society or organization it is likely to fracture. No doubt, these industry pillars came under massive scrutiny from their constituents. The real estate brokers who founded these noble entities became conscientious objectors to the organizations and their [...]