Editor’s note: The following excerpt appears on the Inman News Blog and gives a quick rundown of some of the latest developments in MLS consolidation and data-sharing efforts. Inman News is challenging readers to sound off on the future of MLS. To discuss your thoughts on the topic, click here.
Minnesota MLSs tear down data walls
A group of 14 Realtor associations, which represent 10 regional multiple listing service providers and the majority of for-sale property listings in the state, have created a data-sharing system (see Inman News article). The sharing agreement will reduce the need for real estate professionals working in the area to join several MLSs to serve their clients.
Change is in the air — in other markets, too, there are efforts to consolidate MLSs or share data. David Charron, president and CEO for Metropolitan Regional Information Systems Inc., the largest MLS in the country, in a November speech called upon MLS officials to push for data standardization and regionalization.
One effort, called NCREX (for Northern California Real Estate Exchange), will lead to the consolidation of four MLSs in the Greater San Francisco Bay Area, while another effort in the area will allow users of a group of other MLSs to share data without the need to join multiple MLSs.
And at the other coast, MLSs in Connecticut are joining forces to form a statewide MLS.
The National Association of Realtors also has taken up the issue, forming an MLS Future Presidential Advisory Group that is exploring a future form and function for the MLS system.
–Glenn Roberts, Inman News
Inman Blog challenge: Should more MLSs work toward data sharing? To comment on the future of MLS, click here.