Real estate tools could be faster (and cheaper) -- here's how

  • The National Association of Realtors required all Realtor-affiliated MLSs to adopt a standardized API by June 30.
  • The API could help tech firms develop real estate tools faster for less money and free them up to innovate. This could also attract other tech firms into the space, increasing competition.

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An agent hears about a new real estate tool that she thinks will help her business. But when she tries to buy it, she gets the bad news: the tool is not available in her market because it relies on MLS data, and the vendor has yet to partner with her MLS.