The eight members of the MLS RoundTable (MLSRT), whose multiple listing services represent approximately 325,000 real estate professionals, have committed to a four-step plan to move the MLS industry forward.
The agreement comes only two months after representatives from 22 of the nation’s largest MLSs gathered in Huntington Beach, California to discuss future strategies following the MLS 2020 Agenda study, which was released in September 2017. The MLS 2020 Agenda stated that MLSs are critical to the real estate industry, but that much of their structure and technology is inefficient and outdated.
“The Agenda ignited an industry-wide discussion, and the MLSRT members have agreed to step up and lead by example,” said David Charron, Chief Strategy Officer of Bright MLS, one of the three largest MLSs in the country. “The members of the MLSRT are committed to creating the next generation of MLS platforms,” said Art Carter, CEO of the California Regional Multiple Listing Service (CRMLS), also one of the three largest MLSs in the U.S.
Step one for MLSRT members is adopting RESO. The Real Estate Standards Organization (RESO) was created in 2002 as an independent, not-for-profit trade organization to promote the adoption and utilization of standards. “MLSRT members are steadfast in their drive toward adopting the RESO data dictionary and becoming RESO Platinum-certified,” said Tom Phillips, CEO of Bright MLS.
Step two, according to the MLSRT, is to end Real Estate Transaction Standard (RETS) accounts. “It’s also time to do away with the RETS servers,” said Carter. “Most MLSRT members are moving toward attaining Platinum certification in the web API. Once in place, the intent is to give out only Platinum feeds.”
For step three, MLSRT members have decided to endorse the MLS Grid, a single data point of access for MLSs and brokers. “We need to agree to certain platforms, so we are all adopting this standardized point of data access and management,” said Rebecca Jensen, CEO of Chicago-based Midwest Real Estate Data (MRED). “It is a national platform delivered locally,” echoes Stuart White, CEO of RealTracs.
“MLS organizations are now moving forward deliberately and purposefully. Most MLSRT members estimate they will have completed the first two steps by September of this year, the third by year-end,” said Charron, who also serves as spokesperson for MLSRT. “By then they will have established a common IDX feed and will work towards step four – a consolidated backend, a common data repository, and a front end of choice – by the end of 2019.”
“We applaud the initiatives that are being taken by MLS organizations across the country, and specifically the strong commitment by the large MLS companies in the MLSRT,” said Stefan Swanepoel, author of the MLS 2020 Agenda study and facilitator of the MLSRT. “MLSs can remain relevant if they innovate and lead the transformation of the multiple listing services offered to real estate professionals.”
About the MLS RoundTable (MLSRT):
The MLS RoundTable is a consortium of eight of the largest MLS organizations in the country and collectively serves some 325,000 real estate brokers and agents:
- Bright MLS – 85,000+ subscribers (represented by Tom Phillips, CEO and David Charron, CSO)
- CRMLS – 86,000+ subscribers (represented by Art Carter, CEO)
- CarolinaMLS – 15,000+ subscribers (represented by AnneMarie DeCatsye, CEO)
- MLS PIN – 35,000+ subscribers (represented by Kathy Condon, CEO)
- MRED – 43,000+ subscribers (represented by Rebecca Jensen, CEO)
- NorthstarMLS – 18,000+ subscribers (represented by John Mosey, CEO)
- NWMLS – 30,000+ subscribers (represented by Tom Hurdelbrink, CEO)
- RealTracs – 13,000+ subscribers (represented by Stuart White, CEO)
More information at www.MLSroundtable.com.
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