The MLS RoundTable, comprising seven MLS member organisations collectively serving around 300,000 real estate professionals, says that much of the MLS structure and technology is inefficient and outdated.
“MLSs can no longer stand down while their brokers continue to bear the brunt of the challenges facing our industry,” said Kathy Condon, CEO of MLS Property Information Network and past president of CMLS.
The group has published a new study
called the MLS 2020 Agenda which proposes several key changes from 28 real estate brokers and leaders.
These include a proposal by CoreLogic VP and general manager of Real Estate Solutions Chris Bennett, that third-party MLS software vendors and MLS organisations working closely together to always keep real estate professionals ahead of the consumers’ needs and wants.
Meanwhile Berkshire Hathaway Home Services says consumers, brokers and agents must be protected from cyber threats to the MLS system.
“The study pinpoints solutions for addressing the key issues the MLS industry is wrestling with,” says Stefan Swanepoel, CEO of T3 Sixty, and author of the study. “Making the MLS more current and relevant for real estate professionals will have to include leveraging more present-day technologies, improving data standards and accelerating consolidation.”
More market update:
An industry think tank is considering changes to the MLS system to transform it for the future.