The MLS has served the industry well. For decades, it has provided a basis for all broker participants and their agents — large or small franchise or indie — to share listings while simultaneously competing for business under a common set of local rules. It’s the great equalizer regarding access to available inventory.
- Cognitive computing is coming to real estate, not to displace real estate professionals, but to make them more valuable.
- MLSs have focused their efforts on processing listing data and are not set up to acquire, store and process the data necessary for cognitive computing applications at the local level.
- Upstream or the MLSs have a chance to be leaders in bringing cognitive computing applications to the industry, but it's unlikely that both will be necessary to fill this need.