MLS System needs to change…

Industry insiders know that the inefficiencies in real estate brokerage pose two problems: the consumer is not well served; and the industry remains exposed to outsiders solving the problems for their own profit, again to the detriment of consumers.

Wherever you live, real estate agents in your area are members of a local board of Realtors, and also an MLS… some MLSs are small, serving a county or two; others are larger, serving an entire region, with multiple counties and multiple boards of Realtors.  Here lies two inefficiencies, which present long-term concern for the industry, and more importantly for consumers: (1) why so many MLSs, now that technology solves the issues of presenting this data back to the Realtors who have created the MLS to serve their purposes of promoting their listings, and finding properties for their buyers? And (2) why so many boards of Realtors?  Each board of Realtors requires space and staff, both of which are rising costs of the business.  Not to paint a general picture, however, these local boards have a self-preservation interest… which just adds additional cost to the Realtors, which is paid for by the Gross Commission paid by consumers in each transactions with their agent.

Here’s another thought to consider: Read what Bob Bemis has to say about it… Bob has held some very high level positions running MLSs and for third party listing aggregators…


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