BrokerageMLS & Associations

Can leveling the real estate data standards field be a good thing?

Industry heavyweights push for changes to alleviate broker pain and costs, drive innovation
  • When it comes to data standards, Redfin welcomes a level playing field among brokerages, according to CEO Glenn Kelman.
  • Data standards can help brokerages alleviate the pain and costs of moving data around, according to RESO Chair Art Carter.
  • Redfin and CoreLogic say cooperating on data standards is a way to nurture the entire real estate ecosystem and stay valuable in the eyes of consumers.

In recent years, the idea of MLSs "leveling the playing field" between real estate brokers has been controversial. Some large brokerages objected to MLSs providing services and tools that their brokers would otherwise offer to agents and consumers to differentiate themselves. But to Redfin, a brokerage in more than 80 markets across the country, there is at least one area where "leveling the playing field" is welcome: real estate data standards. Redfin has the most highly-trafficked brokerage website nationwide, and data standards will help virtually all brokers more easily provide the kind of data to consumers that Redfin.com currently does. Why is that a good thing? The argument for standards In a webinar this week, Redfin CEO Glenn Kelman emphasized that his company's success is dependent on the health of the industry infrastructure that underlies it. Glenn Kelman "Our main anxiety is actually that we belong to a cooperative, the MLS, that every broker has to ...