OpinionIndustry News

MLSs must raise bar in real estate search

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

Remember some of the early plays on the Internet? The big ones in real estate were made by media giants, the print folks who were looking for a way to hedge their bets that classified revenues would tank. Few of these efforts could be considered resounding successes. Our industry play (Homestore, now Move Inc.) used a combination of cash, warrants and an "all in the family" pitch to keep us engaged. Alas, those were days filled with fantastic promises. Too few were kept. Today's crop of online real estate sites leverage broker listings to sell advertising. Brokers have "funded" these sites with their content. This innocent surrender of listings -- coaxed by new promises of free distribution and leads -- has, in my opinion, produced mixed results. More importantly, it has ceded the field of innovation to companies whose interests are not always aligned with that of their broker and agent partners. And consumers? They are promised more access to real...