Industry News

Future of MLS on shaky ground

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

SAN FRANCISCO – The structure of the Multiple Listing Service is in need of major repair, according to many concerned industry participants. Governance, standardization of data and cooperation are all points of serious concern to people involved at all levels. Every housing market needs a properly functioning MLS to work and survive. But there are some deeply rooted dysfunctions threatening the MLS future, according to participants in a roundtable discussion here Thursday. "I can't see how the industry can exist without the MLS," said Andy Woolley, director of MLS services for eNeighborhoods. Woolley opened a discussion Thursday evening during Real Estate Connect 2005 to a packed audience that shared the same concerns: that the current MLS structure is not working and that the industry needs to work on a solution before it crumbles. "There's a real issue around the data and a real issue around the business model for the future," said Ed Krafchow, president of Prudentia...