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MLS as a consumer portal.

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Services for Real Estate Pros with Realty Executives

Would it bother you?

In phoenix the MLS is considering a consumer portal, In other words their own IDX site. This site would provide consumers with the most up-to-date data about properties and their prices. Information typically only visible though the back end of the MLS will stay private to MLS members. Customer queries on a listing will go straight to the listing agent.

 

One loose end that seems to appear is that a consumer can then contact many realtors in their search rather than just working with one buyers agent. This is not a new concept as it would be the same as when a consumer uses realtor.com or any other listing aggregators.

 

The response from real estate professionals I have heard from has been overwhelmingly negative. They feel they are losing control as a buyer’s agent, and their consumer will just contact listing the listing agent. Some brokers fear that the average commission will go down because the total commission is usually lower when a realtor represents both sides of a sale.

 

Are their fears justified? Aside from the argument that its too late, and sites like realtor.com make this issue moot. What are the pros?

I think in this current market it is useful for a listing to hit as many eyes as possible as the glut of inventory is part of the overall market problem.

In your area does the MLS provide the customers a page for property searches? How do you feel about that?

 

-Evan Brom

Comments(7)

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Anna Ray
Century 21, 1st Place - Boise, ID

Well pro's would be that agents who do not list on craigslist would get just as much traffic as the ones who dont. Buyer's and seller's would be able to know their own market. Wait a second these aren't necessarily pro's. They're Con's! If anyone can figure out what their home is worth, if anyone can access the mls to list their property then we cease to exist all together. All FSBO's would need would be to pay someone to input their listing bing bang boom we lose our most profitable tool as agents! We don't just lose buyers, we lose sellers! The main reason they want us is to know what thier home is worth! Ugh!

Nov 05, 2008 08:15 AM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

I dont' think our mls is working towards that, but I can see what the problem would be..

Nov 05, 2008 08:44 AM
Ron Tarvin
Residential, Investment properties, rehab projects, property management, luxury homes, new construction! - Katy, TX
Broker, Katy, Houston, Cypress 77450,77494,77095

Houston Association of Realtors, HAR has their own consumer portal and in my opinion, it stinks.  I pay them and they give away what I pay for.

The public wants the information and that's fine, but they do not contribute the fees required to maintain the service nor do they contribute the data that makes up the service.  It's not a RIGHT to know this information...it's a service and I think the public should have to go through the SERVICE PROVIDER to get the service.  Doesn't that make sense?

Nov 05, 2008 08:51 AM
Veronica DeCarolis
Weidel Realtors - Flemington, NJ

Consumer loyalty is tough to find. I try to get buyers to understand that I can keep them better informed than if they were on their own.  Bonnie

Nov 05, 2008 08:58 AM
Chris Schreiber
Kiemle & Hagood - Sandpoint, ID
CCIM

I don't even see it as an option.  The majority of MLS providers in country allow their members to push data or frame searches from their own individual and company websites.  Further most MLS providers have agreements in place to push listing data out to sources like trullia, yahoo, google, homescape and a dozen others.  I would rather have my MLS create a good reliable source for consumers to search than for them to go to other websites, pull incorrect and usually imcomplete data and then I spend twice as much time trying to find the real data.

That being said the data released needs to be controlled and some information that we can see as agents is not for public distribution.  We just wne through a major redesign of our MLS system and changed providers, the whole discussion of what can be seen and what can be searched by the public was a hot one, but there never was an disgreement on wether or not the public could search at all.

One final issue ... cost.  Is your MLS prepared to spend the money and ongoing maintenance associated with maintaining a public portal, a server to handle the incoming volume, etc.  It can really add up. 

Nov 05, 2008 09:07 AM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

The horse is out of the barn, this is a good thing. You want consumers to come to your mls and ultimately your own listings as you said in the post. So just make sure your contact information is on it. Do you get a raw data feed.

Nov 05, 2008 09:35 AM
Evan Brom
Realty Executives - Phoenix, AZ

Thank you for all of the feed back, it is interesting to see people on both sides, specialty Huston as that was use as an example of a successful portal during some conversations.

Nov 05, 2008 01:49 PM