The MLS Roundtable (MLSRT), a group of industry leaders in the MLS space, has answered questions in a new publication, “Important MLS Issues Answered,” released this week. The MLS 2020 Agenda, which identifies issues with the MLS, was established in 2017.
“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,” says 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—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,” says AnneMarie DeCatsye, CEO of CarolinaMLS. “The MLSRT has decided to provide a comprehensive set of answers to further enable these discussions.”
According to the MLS 2020 Agenda, MLSs are critical to the real estate industry, but the technology and the method of transferring data is antiquated. Twenty-two of the nation’s largest MLSs gathered in Huntington Beach, Calif., 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 (CRMLS) and chairman of RESO. “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, or 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 it had sunset the RETS Standards Workgroup. In June, RESO announced it had discontinued the standards for certification of RETS.
“RESO standards are a great roadmap,” says Tom Phillips, CEO of 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, and MLSRT and MLS Grid members are committed to making the MLS industry as cost-efficient and effective as possible,” says Rebecca Jensen, CEO of Chicago-based Midwest Real Estate Data (MRED),
As of mid-2018, there are 10 MLSs serving over 200,000 REALTORS® 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 (BPP).
“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 NorthstarMLS and chair of BPP.
“We are no longer waiting to see what might happen,” says Tom Hurdelbrink, CEO of Seattle-based Northwest MLS. “We have identified the important issues and are addressing them one by one.”
“MLSRT, MLS Grid, and RESO have taken on the responsibility to lead by example to enhance MLS services,” says Stefan Swanepoel, CEO of T3 Sixty, which compiled the publication. “The transformation of the MLS industry is well underway and the next few years will be significant for the participants.”
For more information, please visit mlsroundtable.com.