MLS usurping brokers' tech role
Realtor Notebook
By Teresa Boardman, Thursday, June 18, 2009.
Flickr image by willc2.The MLS can't replace the broker, but our MLS is now providing some of the software and services that agents could get only through large brokerages or on their own.
For example, our MLS now has real estate contracts built in and the fields are populated with data from the MLS. Instead of relying on a brokerage for contract forms or using the electronic forms that we used to have to buy yearly subscriptions to, forms are now a part of our MLS fee. Electronic forms are not all that expensive, but they do cost money. The paper forms were very expensive, and we relied on our offices to provide the six-part carbon forms.
We can now make appointments to see listings through our MLS. It used to be that real estate offices had a front desk and an appointment line. Now thanks to our MLS provider, neither is needed for buyer showings, and I can make appointments very quickly without having to make and receive a ton of phone calls. That feature alone has saved me countless hours. The MLS also allows us to keep a record of the homes that we have shown buyers and sends reminders asking us to provide feedback for the listing agent.
When I started in the business I worked with a big brokerage. They had special software that they encouraged the agents to buy. The software enabled us to create some nice-looking reports and comparative market analyses (CMAs) for our clients. Today that same capability is built into our MLS platform, Tarasoft Matrix.
My experience with the proprietary software products made for Realtors and deployed through major brokerages has been dismal. Every company in my area states that they use the latest technology in their recruiting advertisements.
As an agent, I am not all that concerned about the technology used by the real estate company. I am more concerned that I am using the best technology solutions for my business. I am also interested in providing the best experience for my clients. ...CONTINUED
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Submitted by Alexis Eldorrado on June 18, 2009 - 12:11pm.
It is great that the mls boards are keeping up with the technological advances, as typically these items are included in an agent's fees.
As a broker owner of a small firm in the Chicago real estate market, I have found the right technological person to work with. When the market was doing great, we all made a lot of money. Now that there has been a shift, we are not making as much, but all the technology we put into place has kept our lives simple.
It is amazing how many great software products are out there, from electronic contracts to electronic signatures, to electronic showing monitorization and feedback.
As a small firm, we are able to provide one-on-one training of all of these products. I sympathize with the larger firms, and I know they want to keep on top of all of the latest technology for their agents, but their size can be a hinderance. Typically you have to buy a seat for all of your agents. In a large firm, for those agents who can't and won't embrace the fabulous technology that is available for real estate sales, there becomes a lot of waste for the real estate firm.
As always, there are pluses and minuses to being with a big firm or being with a small independent firm.
I just love the fact that the mls's are getting on board with incorporating the technology right into their system. This makes for good real estate selling with less overhead, and of course, better service to the client. When service to the client is the number one priority, any firm, small or large, will be successful.
I love the innovation this industry has gone through over the last 10 years. Like the author, I am very excited to see what is ahead technologically in the real estate market.
Alexis Eldorrado
Managing Broker
Eldorrado Chicago Real Estate LLC
150 N. Michigan Avenue, Suite 2800
Chicago, IL 60601
773-588-7777
Alexis@Eldorrado.com
www.Eldorrado.com
Submitted by Jeff Bergstrom on June 18, 2009 - 12:42pm.
What's a "carbon form"?
Just another indication the traditional brokerage role is moving on the same path as the public telephone.
Jeff Bergstrom
Wynd Realty
Atlanta, GA
www.WyndRealty.com
Submitted by Doug Francis on June 18, 2009 - 1:32pm.
My MLS, the MRIS for DC/Maryland/Virginia, recently put out an excellent IDX style web site that free to consumers with no registration needed so agents really don't have to pay for IDX sites or r.com . Buyer's literally stumble across this thing and I agree that it is impressive, and easy to use. It's at homesdatabase.com if you want to see.
Doug Francis
RE/MAX Presidential in Fairfax, Virginia
http://www.DougFrancis.com
Submitted by Michael Taylor on June 18, 2009 - 2:07pm.
@ Doug - I am sorry, but I completely disagree with your comment. What is so great about an MLS board coming out with an IDX style website? Aren't they then your competition if you have any sort of web presence? Why not create your own "impressive, easy to use" search? Perhaps I am missing something, but I fail to understand your reasoning.
Mike Taylor
Indianapolis Real Estate | Geist Real Estate | Fishers Real Estate
Submitted by Jim Little on June 18, 2009 - 3:37pm.
Theresa,
Here in the Phoenix area, our MLS is actually taking an interest in the success of the agents. They are sponsoring speakers to help us understand the market etc. They have arranged for better statistics availability to allow us to explain the market and how it will effect them.
We have always had lock boxes, so showing arrangements are handled directly with the seller in most cases.
I wish listing/sales contracts were auto-populated from existing data, it gets tiresome to enter 123 Easy Street over and over again.
At this time, the only advantage to a large, local broker for me is that there is a value to the sign. I have never worked with a national brand, never saw the need.
Submitted by John Rakoci on June 18, 2009 - 6:49pm.
Jim Little check out zipformonline.com to see if they have your state in their system. They have both states I work and it is a fantastic and inexpensive product.
Submitted by Ken Lampton on June 18, 2009 - 7:05pm.
Doug Francis, I have to wonder whether you are joking about the desirability of having your Realtor® Association compete with you by putting up a public-facing IDX website.
I was furious when my own Association here in Dallas announced they were creating such a website. My protests were ignored because I am not part of the big-broker political elite that makes these sorts of decisions in order to support their top listing agents.
I'm sure someone out there will tell me I am a "dinosaur" because I feel this way. However, I have spent thousands of dollars and hundreds of hours creating an effective website which brings me business. Now my own Association is using the money I pay in fees to compete with me.
The MLS's are, step-by-step, turning themselves into public utilities instead of serving the community of real estate agents who pay to keep them in existence. Seems pretty stupid to me.
Ken Lampton
RE/MAX About Dallas
http://www.m-street-dallas.com/
Submitted by Robert A. Hulme on June 18, 2009 - 7:36pm.
It is great having our MLS continually trying to improve the IDX feed for my website. I am totally spoiled as are my clients by the MLS Search tools that we have today. I just can't wait until I see their next move.
Robert A. Hulme
Realtor, GRI, e-PRO
Utah Select Realty
Loan Officer
Mortgage Xpress
www.utahhomesforsale.ws
www.utahhomes.ws
Submitted by Susie Blackmon on June 19, 2009 - 3:47am.
I love the robot showing foreclosures to buyers idea!!
Regarding the MLS/IDX, until recently we slept with the dinosaurs. 'They' are trying to catch up but...
Susie Blackmon
http://www.google.com/profiles/Susie28751#about
Submitted by Kevin Lisota on June 21, 2009 - 6:34am.
You were recently using 6-part carbon forms? I thought that technology was antiquated in our area!
Submitted by Cameron Paine on June 22, 2009 - 4:44am.
In respone to Ken Lampton's post, I believe you may want to examine the issue from another angle. If your Association's IDX site promotes all leads back to the listing broker either through email links on the listing or via direct links back to the listing broker's personal (or the brokerage) website, then every dime spent by the Dallas Association compliments, rather than competes, with your IDX site.
Let's assume you have the #1 web presence in Dallas with, say, 10,000 visitors per day. By definition, every other lead over 10,000 is going to one of your competitors, rather than you. With the Dallas IDX site, you get another chance to gain that lead.
The fact is that know one knows where a potential client will go on the internet to search for a property. Is it your site? Realtor.com? The Re/Max site? Or is it one of the thousands of others?
The fact that the Dallas Association is willing to spend the time and effort to maximize their member's web presence is to be applauded, not feared. Now, that being said, if the Dallas Association's IDX site captures leads for itself and doesn't promote them to the brokerage or listing agent, then all bets are off and you are right - they would be in competition with you.
Submitted by Victor Lund on June 26, 2009 - 4:35am.
Excellent point Cameron.
We did a 360 degree review of the effectiveness of the Houston Associations' MLS consumer facing websites. It is free and can be downloaded here
http://waves.wavgroup.com/mls-consumer-website-research-released
We surveyed consumers as part of this study, and they enjoyed getting access to the most comprehensive and accurate source of listings without the perceived sales pressure of an agent or broker website.
We surveyed brokers and agents who reported that har.com was one of the best benefits/services offered by the MLS. HAR.com drives more business to agents and brokers than any other website.
We work with MLSs on a regular basis to launch consumer sites and/or improve consumer sites. It is very unusual to hear complaints from members of MLSs who have a consumer site - oddly, we only hear "fear" based comments from agents and brokers who do not have one.
MLS consumer websites help their members and agents compete against third party sites like zillow, trulia, homegain, cyberhomes, yahoo, googlebase, and others. HAR.com is a great example of this - they dominate the Houston Area for real estate traffic.
Victor Lund
Partner
WAV Group
http://waves.wavgroup.com
http://www.wavgroup.com