Takeaways:
- Associations and MLSs make decisions by committee. This does not lend itself to quick decision-making.
- The “Uberification” of real estate is not a threat — it’s a light showing the way forward.
- There is some angst over whether the industry can innovate fast enough to meet demand.
SAN FRANCISCO — Multiple listing services need to create their own future before other entities in the industry do it for them, according to panelists at Inman Connect.
Denee Evans of Council of Multiple Listing Services, Kirby Slunaker of REcolorado, Bill Head of MetroTex Association of Realtors and Tom Phillips of TREND MLS gave their views on MLS innovation:
“Get Your Head Out of the Sand: MLSs that are Innovating” is about to start! #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Here’s our panel: @kslunaker, @deneem3 , Bill Head of Metrotex, and Tom Phillips of TREND pic.twitter.com/0CENnvJXYC
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: What does Uberification of real estate going to look like? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Bill Head:The general structure of an association has stayed the same for many years.Most decisions made by committees.Need to move quicker.
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@deneem3: We should work together — MLSs, brokers, agents, vendors — to decide what the future looks like. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: Consumers will engage the way they want to. Will tell you when they want to talk to a broker. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Bill Head: Texas is a non-disclosure state, which makes inaccuracies in some portals larger. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: We get a million uniques a month. Z & T get about 38% of eyeballs, http://t.co/3D4ZzNXi7D gets 22%. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: Our whole strategy was to create a regional alternative to @zillow and run it on fair display guidelines.#ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker : We did it at a fairly low cost. Paid for it with national, regional and local advertising. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@BergeronRuss (in audience): Do you see Uberfication as a threat to MLSs? If so, from consumer side or broker side? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: “I don’t see it as a threat. I see it as a lighthouse.” Lighting the way to the future. Will happen with or without us. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Bruce Gardner in audience: What would you do if you had no limits? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Bill Head: We provide over 500 education programs a year. We created a distance-learning platform. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@deneem3: I would assemble a roomful of rockstars – agents, brokers, MLSs – with a white board. Put our best pieces together. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Katherine from HouseLens: Is there innovation coming to get new media like 3-D virtual tours into your platforms? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Tom Phillips: Much of how we display data is rooted in the past. Should be trying to change that. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: Yahoo doesn’t send out a newsletter every time they change the UI. They just do it. And you deal with it. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: NAR, MLSs, associations make the rules. Why do you think Zillow and Trulia don’t want to play? They need to be nimble. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@jburslem (moderator): Can someone explain to me exactly what Upstream is? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@deneem3: About a single point of entry for data. It’s really to meet a business need. Don’t necessarily think it should scare MLSs. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Tom Phillips: Duplicate entry of listings that occurs today. It’s a problem we haven’t been able to solve as MLSs. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Cameron Paine (in audience): To me, it’s about value. What value does the MLS bring to the broker? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Bill Head: MLS as it was originally defined, it’s taken a very different role now.Could argue MLS is no longer the marketplace, but conduit
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: The real problem that keeps me awake at night – can this industry embrace change fast enough to maintain control of their biz?
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Tom Phillips: Can we get there fast enough to meet demand. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Bill Head: There are a lot of associations and MLSs that have attempted to do the agent ratings system. It didn’t go well for them. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
–@kslunaker: You’re not going to have the ability to innovate quickly unless you centralize decision-making and not asking nine associations
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Audience member: Is cooperation and compensation still relevant today? #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
Tom Phillips: I think it’s the things that sit around that that need to change. #ICSF
— Andrea V. Brambila (@InmanAndrea) August 6, 2015
