Protecting the Past Without Defining the Future Is Not a StrategyBy Brian Donnellan
For the past several decades, the MLS has maintained data quality and efficiency rules that benefit all. We are the unseen engine that powers brokers’ businesses while ultimately serving the best interests of consumers. Yet, as the industry evolves, it becomes clear that not much has changed for the MLS. We highlight consolidations, data-sharing initiatives and new services for subscribers, but the reality is that most MLSs have remained relatively stagnant.
The consequences of stagnation are becoming increasingly evident. Too many MLSs rely on third-party tools to provide their services, and then we see those third parties turn around and eat the MLS’s lunch. Meanwhile, brokers are losing control over client relationships, as teams prioritize mobility over loyalty. And, in their pursuit of profitability, brokers are increasingly sidestepping the core precept of broker cooperation, which may yield short-term gains but carry significant long-term implications for homebuyers, home sellers and the industry. New external threats have emerged, many in response to our paralysis. What we used to refer to as portals—because they were the access point between consumers and the brokers and MLSs—have seized the opportunity to insert themselves into the agent-consumer relationship, diminishing the broker’s role and creating a direct channel to the consumer. Piling on, the outcomes of the various lawsuits and government pressure loom, threatening the existing business model as well as the industry’s ability to evolve. Considering these challenges, protecting the past without defining the future is not a sustainable strategy. To chart a more promising path forward, we must consider several crucial steps:
For more information, please visit https://www.brightmls.com. Brian Donnellan is president and CEO of Bright MLS. |
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