Solving Broker Pain Points
Important MLS Questions Answered by MLS RoundTable
Solving Broker Pain Points
SAN JUAN CAPISTRANO, CA [September 24, 2018] – A year ago this month, The MLS RoundTable (MLSRT), published the MLS 2020 Agenda identifying key issues the MLS industry needed to focus on. In an effort to continuously push the agenda forward, the eight members of the MLSRT published this week extensive answers and recommendations to address the dated management and sharing of listing data.
“The MLS 2020 Agenda not only applies to MLSs - with regard to consolidation and cooperation in joint efforts to streamline processes for the benefit of brokers - but also to brokerage firms and vendors,” stated Stuart White, CEO of Tennessee-based RealTracs, Inc. “Thriving in the real estate services arena requires MLSs, brokers and vendors to embrace ‘real-world’ adoption of RESO data standards and the RESO Web API. Implementation of a 21st Century standard, by all three groups, will ensure that brokers can deliver the best services, best products and best consumer experience available.”
“We know that hundreds of MLSs across the country are currently struggling with many issues,” said AnneMarie DeCatsye, CEO of CarolinaMLS. “Issues such as whether they should abandon RETS or not; where should they invest their limited tech dollars; and should the RESO Web API be on their radar for next year? The MLSRT has decided to provide a comprehensive set of answers to further enable these discussions.” Copies of the FAQ can be downloaded, complimentary, from t360.com/mls-faq
In 2017, the MLS 2020 Agenda stated that MLSs are critical to the real estate industry and acknowledged that technology and the method of transferring data is antiquated. Twenty-two of the nation’s largest MLSs gathered in Huntington Beach, California in February 2018, to debate the issues. “We believe the next steps are crystal clear and we want to share them with everyone,” says Art Carter, member of the MLSRT, CEO of the California Regional Multiple Listing Service and Chairman of the Real Estate Standards Organization. “The members of the MLSRT are committed to creating the next generation of MLS platforms, and helping MLS organizations continue their key role. All MLSs must move into the 2020s and adoption of the RESO Web API.”
The Real Estate Standards Organization (RESO) was created in 2002 as an independent, not-for-profit trade organization to promote the adoption and utilization of standards. In April 2017, RESO announced that it had sunset the RETS Standards Workgroup. Two months ago, in June, RESO announced that they discontinued the standards for certification of RETS.
“RESO standards are a great roadmap,” stated Tom Phillips, CEO of 85,000 strong Bright MLS. “We are firm believers that adopting the RESO data dictionary and becoming RESO Platinum-certified is the next step in the future for MLS organizations.”
Most of the MLSRT member organizations are also actively cooperating in the MLS Grid, a long-term brokerage solution identified to address national market and data access issues. “Times, they are a changing fast,” said Rebecca Jensen, CEO of Chicago-based Midwest Real Estate Data (MRED), “and MLSRT and MLS Grid members are committed to making the MLS industry as cost efficient and effective as possible.” As of mid-2018, there are 10 MLSs serving over 200,000 Realtors who are working towards additional integration solutions that are expected to generate even more monetary savings for the brokerage community.
Lastly, all MLSRT members are active participants in and early adopters of the Broker Public Portal. “The unprecedented collaboration between the broker and the MLS industry has garnered massive adoption in its first 18 months,” says John Mosey CEO of Minneapolis based NorthStar MLS and Chair of BPP. “We are no longer waiting to see what might happen. We have identified the important issues and are addressing them one by one,” says Tom Hurdelbrink, CEO of Seattle based Northwest MLS.
Stefan Swanepoel, CEO of T3 Sixty and author of the DANGER Report (dangerreport.com – that in 2015 identified the pending threats to the MLS industry – and of the subsequent study titled the MLS 2020 Agenda (mls2020agenda.com) – that provided the top three issues that needed to be addressed – stated that “MLSRT, MLS Grid, and RESO have taken on the responsibility to lead by example to enhance MLS services. The transformation of the MLS industry is well underway and the next few years will be significant for the participants,” he said.
The 10-page summary, titled Important MLS Issues Answered, also compiled by T3 Sixty on behalf of the MLSRT, is available for free download at mlsroundtable.com
About the MLS RoundTable (MLSRT):
The MLS RoundTable is a consortium of eight of the largest MLS organizations in the country and collectively serves over 330,000 real estate brokers and agents:
· Bright MLS - 85,000+ subscribers (represented by Tom Phillips, CEO)
· CRMLS - 93,000+ subscribers (represented by Art Carter, CEO)
· CarolinaMLS - 16,000+ subscribers (represented by AnneMarie DeCatsye, CEO)
· MLS PIN - 35,000+ subscribers (represented by Kathy Condon, CEO)
· MRED - 43,000+ subscribers (represented by Rebecca Jensen, CEO)
· NorthstarMLS - 19,000+ subscribers (represented by John Mosey, CEO)
· NWMLS - 28,000+ subscribers (represented by Tom Hurdelbrink, CEO)
· RealTracs - 13,000+ subscribers (represented by Stuart White, CEO)
David Charron chairs the MLS RoundTable. More information at www.MLSroundtable.com.
About T3 Sixty:
The largest management consultancy dedicated exclusively to the residential real estate brokerage industry. Also, since 1998, publishers of over 40 studies and reports about the industry. Stefan Swanepoel of T3 Sixty manages the activities of the MLS RoundTable. More at t360.com.