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Move over Indianapolis MLS, here comes the BLC

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Education & Training

MIBOR announced in a closed door meeting, that it is re-branding the MLS to"Broker Listing Cooperative" or the BLC.  The main purpose for the name change as described by the CEOwas to inform the public that the MLS is not a public utility.  Currently the public feels that the MLS is an open source of data.

 I feel that this is the wrong move at this time.  If the public feels it's their utility and goes to any location that harnesses the listing then I feel good that my listings will be seen.  Currently a Mibor member when listing a home on the MLS/BLC will be on 1,4000 sites (see our site for more details Indianapolis Real Estate).  The fear is make the public not user friendly then what value do we have compare to these next generations sites - Zillow - Trulia and Redfin?

Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

I don't know if a name change is in order. The term MLS is well branded and identifiable to the public. I do though think that there should be measures taken to keep the information provided on MLS sites from becoming an open source resource. Other wise we will lose control of the product. The whole process of contracting with seller's for the sale of real property which is the source of our income could be in jeporardy.

I liken this thought process as similar to the term CMA. Originaly the CMA was designed as a sals tool to upstage the competition. In many places now there are attempts to legislate the use of a CMA as a tool that must be used.

Aug 25, 2007 03:36 AM
John Slimak
Fishers, IN

The perception is that the public thinks they are seeing the entire MLS which in most cases not true.  We created rules to limit the information to the public to inspire them to contact a REALTOR.

The problem is that Pandora's Box was open to the public and any change to close will do nothing but fuel the fire on the value of a REALTOR.  In Indianapolis the average commission is still 6.5% so you can imagine on a 400k home people are asking the right questions on why 24k to sell a home.

Trying to shut a door of information or telling them its not thier information is like telling a kid no more tv becuase the parent own it.

 

Aug 25, 2007 03:48 AM
Armando Rodriguez
QUEST REALTY SERVICES - Orlando, FL
Orlando Homes 4 Sale, Real Estate Broker-GRI
Very interesting, I thought we worked for the public. don't we want them to see our listings?
Aug 25, 2007 03:49 AM
John Slimak
Fishers, IN

Here is the fun part...... when talking to the board they tell you that they have no intension for any changes to the public viewing of the MLS/BLC and that it's only a name change.  OK so if they are not going to change the viewing or the rules why risk the negative reaction of telling the public "it's not yours"?  I am a huge skeptic and I am waiting for the other shoe to drop.

By the way did I mention that the name change was not brought up for a vote by the members only the elected officials?

Aug 25, 2007 03:56 AM