Where would NAR and the local boards be without the MLS?

By
Real Estate Agent CO: II100035296

 I recently read two articles on Inman  News that made me question, "Where would NAR and Realtor.com be without the MLS?"  In many areas, if you want access to the MLS, you have to be a member of the National Association of Realtors, the respective state association and the local association. 

For years, people have grumbled whether NAR and Realtor.Com are truly looking out for all it's members or  just those that are willing to pay for the extra marketing promotions such as upgraded websites. 

Yesterday I read an article, MLSs at ‘cliff’s edge’ over ‘pocket listings,expressing concern about an increase in  homes that are being sold by real estate agents without first having been entered into the MLS.  There was concern about 1) If an adequate number of homes are not being sold through the MLS, we will not have good data to prepare competitive market analysis.  2)  potential buyer/seller representation problems.  (Click the link above to read the article.)

Then today, I read about how Realtor.com is considering rolling out a new service in which the top 16 agents in a given market will be ranked.  They call it an "Agent Matching Tool."   The rankings will be determined by using MLS data sales and listing data.  (See article at  Realtor.com Experimenting with Agent Matching Tool Powered by MLS Data)   The Realtor.com folks expect that a lot of agents will be very unhappy but they seem to feel that the benefits to Realtor.com is more important than the thoughts of the NAR membership.   According to the article, beta versions of this tool are currently have been getting tested in two markets:  Boulder, CO and Las Vegas.   

 I wonder, how will this ranking system benefit the NAR membership?   Teams that focus on volume will easily be the top rankers.   If the NAR is concerned that the competitive market data is not going to be accurate because of all of the pocket listings that are selling, how is that going to effect the agent ranking data? 

 

Are the current multiple listing service system’s that are directly affiliated with local Realtor associations about to become obsolete? 

 

  1. MLS data is already farmed out to all sorts of third party websites.   It is my understanding that in many markets every agent with a website can request an IDX link.  Realtor.com is having problems competing with Trulia and Zillow.     
  2.  In the great Denver area, we can use a multiple listing service company called Metrolist.  Although the monthly fees are cheaper if you are a Realtor, you don’t have to be one.   I have been very happy with my Metrolist membership. 
  3.  LandofAmerica.Com aggregates enough rural listings that I routinely search it in addition to the area multiple listing services.  
  4. Loopnet.com is my favorite aggregator of commercial listings.  Plus their website is a amazing source of information about communities that can be narrowed down to the various radiuses from the listing.   

I predict that the number of Realtor.com's enjoyment of direct feeds 800 MLS which represents from 98% of MLS listed properties is in jeopardy if the current trend keeps up. (Those figures were listed in the article above.)   

 

Sincerely,
 
 
Sondra Meyer Peterson
Colorado Horse Property Specialist
 
Colorado.  See It.  Experience It.  Live It 

 

 

Comments (9)

Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Sondra, Now that is a lot to think about. We only have on MLS in our market and you have to be a Realtor to be a member. Furthermore, the stockholders are the local boards. We don't see a problem with pocket listings. Most agents get a one time listing signed so they can substantiate the closed volume and claim it. Now Realtor.com's proposition is not going to be a favorable one to the masses.  As you said it clearly favors teams which already distort the true picture in sellers and buyers eyes.

Nov 11, 2013 09:06 AM
Sondra Meyer:
Colorado Springs, CO
See It. Experience It. Live It.

Debbie, I think it is going to be intersting to watch what unfolds - especially if we continue to have a sellers market. 

Nov 11, 2013 12:35 PM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

The MLS is the crown jewels of local associations Sondra, and the search software that goes with it, belong to the affiliated REALTORS. NAR from many agent's perspectives has not represented them well at times and that agent ranking idea sounds not like an even playing field. Much of what is found on other sites is dated which the public does not know and Zillow and Trulia are threats to MLS systems. This is an ever evolving area with the "prized database" in the real estate world. Many things are broken in the real estate business model, if the MLS system and its integrity craters, you will have many more junior REALTORS pop up. I hope that does not happen.

Nov 11, 2013 12:36 PM
Sondra Meyer:
Colorado Springs, CO
See It. Experience It. Live It.

Gary, accurate information is the true source of power, in my opinion.  That is what consumers want.   

Nov 11, 2013 12:49 PM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

That's why I tell them to call YOU!!  :)

Nov 11, 2013 12:53 PM
Sondra Meyer:
Colorado Springs, CO
See It. Experience It. Live It.

Awe, thanks Gary!

Nov 11, 2013 01:12 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We just made a large payment for NAR, state and local dues. The cost is far too high for the benefits we receive. And, the MLS systems have given away our business. You can't blame some for avoiding the broken systems.

Nov 11, 2013 08:36 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

How you do the real estate hokey pokey in your own market starts with what works, does not. Realtor.com is a big site, we have the enhanced listings with all the bells, whistles but there comes a time when the screws get too tightly turned. The give us your listings and then buy back the positioning to be the cream on the top. It just makes you finally determine the effort is building your own MLS with across the board inventory in all prices, locations, types. And you list them, sell them and create what you can control on the local level. Blogging on your platform for the SEO and not herded and lost in the AR crowd of faces, the Realtor.com etc masses. The other more matched to an audience like land buyer sites work super. Agregate to 350 other sites on Field and Stream, Mother Earth News. You have to ask yourself is the ROI on what did work working now or needs an adjustment. Reallocating the funds, times you spend in the weed and feed is always a consideration for sure. Work your stand alone first and spread out from there. Not the other way around keeps money in your pocket. Other people's hands out of those pockets. Too many agents, brokers have the just quickly "throw money" at it and there done. Does not work that way for long and home grown SEO bell ringing, good content, videos, blogs, images peddles properties, listings best.

Nov 11, 2013 10:21 PM
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

NAR has prostituted the name given to members of its semi-compulsive organization to a lead factory.  It is not, and we are not realtor.com.  If the NAR protected the images and reputations of its members as well as it markets its money-generating name, we could look to it as fulfilling its mission adequately.  Real estate professionals deserve better, either a reformed NAR or an alternative association.

Nov 11, 2013 10:46 PM

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