OpinionIndustry News

Future of MLS without interbroker compensation

Guest perspective: The end of MLS as we know it (Part 3 of 3)

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: This is part three of a three-part series discussing important issues organized real estate is facing and possible strategies for resolving them. The author argues that interbroker compensation should be done away with and in part one explains why this should be done right away. Part two will discuss how the world will work without interbroker compensation; and part three will look at the future of the MLS in that world. (Read Part 1 and Part 2.) "Facts are the enemy of truth." - Miguel de Cervantes (1547-1616) For Cervantes' Don Quixote, facts were something to be distrusted. That's fine for a mystical idealist, but most of us in the real estate industry are inclined to realism. And realism works best with facts -- which are the stock-in-trade of MLSs as we now know them. The real core MLS service I have spoken to business and community groups about how MLS works, and almost invariably the audience has questions about things like, "Are all the listings ther...