The National Association of Realtors is facing a quandry. They are the main link for multiple listing services across the country. An agent must join their local association in order to have access to the multiple listing service. The listings are owned by the brokers that have an agreement with the sellers. It used to be that this information was found in large binders in real estate offices. The internet age has changed that and now most multiple listing services offer online search capabilities.

This was a good thing.........for awhile.

Of course, it used to be that each town had a locally owned grocery store, bank, record store, general merchandise store, automotive dealership, credit bureau, gas station, hospital,barber shop and ...well, you get the picture.

Times have changed.

The locally owned grocery store has been absorbed by one of the national chains. The locally owned bank has been bought out by one of the large regional or national banks. The record store owner could not compete with Best Buy. The general merchandise store has gone out of business because Wal-Mart or Target came to town. The automotive dealership has been taken over by the manufacture or a large comglomerate that owns several brands. The credit bureau gave way to one of the three national reporting agencies. The gas station fell prey to the long arm of the oil companies. The hospital gave way to one of the national health systems. The barber shop took down the spiral pole and was replaced by one of the national hair stylist chains. There are exceptions.....but this has been the rule.

Although I miss the personality of many of these places, I accept that this is the price of progress. I now rely on the people in the various places and attempt to develop a relationship with them. All of these institutions had to adept to a changing market. The economy of scale created a disproportionate profit picture for small independent firms.

The current system of multiple listing services will have to change to meet the changing market.

It is time for serious consideration to be given to a national mls. The accessibility issues will remain the same. Having one multiple listing service with one set of rules and regulations will have a better chance of passing muster in any pending or future lawsuit regarding restraint of trade.

Searches could be performed by the general public, with any inquiries going to the listing agent. Agents could search all listings in areas where they are licensed. I don't have all the details, but they are not impossible to sort out.

In my many faceted career, I have worked for several of these institutions and I have seen the change occur first hand. It was always sudden. It was always unexpected. It was always irreversible.

Agents have seen the market they work in change from one model to another. We have seen our customers move from on method of search to another. The backbone of our service to sellers is the ability to market their homes to the largest potential customer base. One system, available to all, may be a step in the right direction.

 

12 Comments on It is a new day .... and has been for the last ten years

SEP
21
2007
115,158 Points 9 Featured Posts Outside Blog

I agree with you. We need some sort of national MLS or we will lose out to all the other sites that are being built.

6:48pm • #1
1 Featured Post
You are so right.  We has a industry have people using what is given to them, but we are only as good as the weakest link.  I Realtor needs to have all open to them. 
6:50pm • #2
103,701 Points 12 Featured Posts
Rich - I think that is quite possible unless folks get their minds around reality.
6:51pm • #3
103,701 Points 12 Featured Posts
Dave - It does seem to spiral out of control. Your listing ending up on a rival brokers site is a strange way to make sure the home is being marketed properly. In a perfect world, there would be one site and brokers could only have access to their own listings on company sites.
6:54pm • #4
118,653 Points Outside Blog

John,

It'll happen as sure as I'm bloggin on AR.

Mike

6:54pm • #5
103,701 Points 12 Featured Posts
Mike - Wonderful. Let's hope that there is a reasonably quick time frame for implementation
6:56pm • #6
103,701 Points 12 Featured Posts
Brandon - thanks, that was pretty much typed as it appears, one shot.
7:24pm • #8
113,661 Points 1 Featured Post Outside Blog

I hadn't given any thought to the topic of National MLS yet but I've now read this blog three times and changed my mind three times in less than an hour.  Aside from being a little dizzy at the moment (LOL!), I have a few questions.

What's the point (or desired result) of an NMLS?  Is it so that listings won't be promoted by other brokers or so that consumers have easy access to info?  If it's to prevent promotion by the competition, doesn't that actually promote dual agency (which is illegal in some states??) and if it's to provide easy access to info by the consumer, hasn't that already been accomplished?

I could have cared less about this topic an hour ago and now I find myself very curious.  I am anxious to see the responses.  Great post!  I give it a high five!  Thanks!

7:30pm • #9
103,701 Points 12 Featured Posts

Amanda - The desired results would be uniformity in the information presented, a level playing field between large and small brokers, one site for consumers that has all the listings, any inquiries by consumers directed to the listing agent (these would be handled according to the laws where the agent is licensed) and an easier system to be policed by the NAR.

The easy access that the consumer now enjoys is dependent upon which site that happen to visit. There is no uniformity. Personal sites often only promote one agent or broker. Brokers sites usually direct inquiries to the broker being visited. The information presented is dependent on the system or idx any one agent or brokerage uses.

I think it is time we married consumer convenience with all the information.

Thanks for your comments.

7:42pm • #10
171,802 Points 3 Featured Posts Outside Blog
John, you make some great points here. Although I do have a question, isn't the new wolfnet system a national mls? I may be wrong, so please correct me if I am wrong. For some reason I thought that I heard that it was the system KW was going to so consumers could search anywhere in the US from the home site. If I am wrong, I agree, it would be nice to have one.
10:40pm • #11
103,701 Points 12 Featured Posts

Stephen - You are correct about the apparent linkage between Wolfnet and KW. There system is also available to brokers and agents in many areas of the country under the brand MLSfinder.com . You are also correct that customers that visit the KW site may be able to access listings in all the areas that wolfnet has an agreement.

I don't think that is the solution. I believe customers should have an entry into a non-branded NAR operated multiple listing service. They should have this access without having to sign in or share anything about themselves. The entry point should advise them that they are free to search any set of listings, anywhere they choose. It should also advise them in plain english that if they wish to receive more information about any listing, it will come from the agent representing the seller of that home.

If they wish to make a list for their agent, they can do so and their agent could use the internal version of the national MLS to schedule showings like we do today.

I want one system with one set of rules and one compliance department keeping track of the listings. I want consumers to sign on and find the same format in California that they find in Georgia. I believe it is our best hope at re-funneling consumers. Agents that wish to reject membership would have the same access as private consumers.

 

10:57pm • #12

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John MacArthur

Olney, MD

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