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?
- 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.
- 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.
- LandofAmerica.Com aggregates enough rural listings that I routinely search it in addition to the area multiple listing services.
- 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

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