Is your MLS doomed? No, but it may be time to consolidate. One of the panels at last week’s Inman Connect conference in NYC focused on how MLSs can stay competitive. The conversation quickly shifted to MLS consolidation, a topic we at Bright MLS know well.
Real estate consultant Rob Hahn summarized the problem by saying most multiple listing services are “not fast enough, not nimble enough. There are too many. You’re too small. And you’re too poor.” It was a quick segue into how consolidation can help address many of the issues MLSs are facing.
Hahn and MRED President and CEO Rebecca Jensen agreed that having a small number of regional MLSs could work, and Denee Evans, CEO of the Council of Multiple Listing Services said consolidation helps MLSs “deliver excellence” and “efficiency of scale” as long as they are listening to the needs of brokers and agents and providing solutions. This is something Bright MLS is already committed to – providing access to the information, tools and services our subscribers need to empower them to get more out of the MLS.
Even though the eye-catching title of the panel, Is Your MLS Doomed?, suggested that the situation for MLSs is dire, panelists agreed that MLSs are not doomed at all. It is the current incarnation of the MLS that needs to change. This was the belief of the Bright MLS visionary associations, and why Bright was formed.
To hear more about what each of the panelists had to say, head over to the recap on Inman News.