RISMedia's Real Estate Magazine

MAR 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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26 March 2018 RISMedia's REAL ESTATE A discussion on the future of the MLS—what it can be, and what it should be—hosted by the California Association of REALTORS® (C.A.R.) recently illuminated those issues, and strived for solutions. "An MLS should be defined not only by its data, but its access to the data, so brokers can get easy ac- cess to and keep the products and services they want and not necessar- ily what the MLS decides to provide to its members," said Rebecca Jen- sen, CEO and president of Midwest Real Estate Data LLC (MRED), during the discussion, held on Jan. 10 in Los Angeles. Jensen is board chair of The MLS Grid—a consistent data feed, licens- ing and rules for brokers, MLSs and vendors—as well as on the board of the Broker Public Portal (BPP). The BPP and The MLS Grid are two of a few initiatives in play, along with Upstream, which is backed by the National Association of REALTORS® (NAR) and Realtors Property Re- source® (RPR®) . Addressing the inefficiencies is key, the panel said. "Our goal is to really work on the challenges…to find a way, through the efforts of all these organizations, to provide consistent data efficiency, to try to break down data silos that are huge pain points in brokerage communities," said Jeremy Crawford, CEO of the Real Estate Standards Organization (RESO), which has de- veloped data standards used by hun- dreds of associations, brokerages, MLSs and vendors. "As someone who lists and sells real estate, I need it to be more ef- ficient—I need to not have to go to multiple sources," said Jeanne Rad- sick, broker of CENTURY 21 Tobias Real Estate in Bakersfield, Calif., and member of the National Association of REALTORS® (NAR) Mergers & Con- solidations Task Force. "I think the first step is we need to have one system." "We are playing a long game," said Mark McLaughlin, CEO of Pacif- ic Union International, based in the Bay Area and a member of 12 MLSs. "The solution for our businesses to drive efficiencies and economies of scale is very important to us, espe- cially in the race to zero. The only way to do that is to have one database." "It's all about how you define 'one database,'" however, said Craig Cheatham, CEO and president of The Realty Alliance. "As I talk to our bro- kers, it's not about one MLS or one database; it's 'I just want to have ac- cess to my data, or my marketplace's data.'" Is it beneficial, even, for the exist- ing inefficiencies to be streamlined? "Fundamentally, the MLS needs to serve [agents and consumers]," said David Silver-Westrick, partner at Keller Williams OC Coastal Realty in San Clemente, Calif. "We serve them less and less with every year— The Great Debate: What the MLS Can Be, and What It Should Be A sk any agent, broker or constituent in real estate: There are challenges facing the Multiple Listing Service. by Suzanne De Vita

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