(Oct. 4, 2019) T3 Sixty, a management consulting, training and in-depth research company for the real estate industry, issued a news release about its new white paper, The MLS 2022 Agenda.
Members of The MLS Roundtable (MLSRT) and T3 Sixty, the joint authors of the MLS 2022 Agenda, firmly believe the MLS is undergoing fundamental change that will definitively change the direction of MLS organization and services over the next few years.
The Roundtable issued a warning in 2017, with the release of The MLS 2020 Agenda and in 2018 followed up with a four-step plan to revolutionize the MLS.
“There are big foundational shifts taking place that many MLS executives do not wish to acknowledge” said Art Carter, CEO of CRMLS and Roundtable member.
“The MLS has failed to protect its essential value propositions,” said John Mosey, CEO of NorthStar MLS.
“And we are playing dominoes when the new world’s playing 3-D chess,” added Brian Donnellan, newly appointed CEO of Bright MLS, all members of the Roundtable.
Due to numerous major real estate shifts over the past few years, the MLS is at a crossroads.
MLSs are at this crossroads because not enough focus is being placed on the changing nature of the residential real estate brokerage industry.
Technology is changing the home buyer and seller of the future and MLS organizations are being faced with a dwindling role as the market’s primary location for all available listing inventory.
The 2022 Agenda outlines eight action steps for brokers and MLSs to take responsibility and address the shift.
According to Swanepoel, the 10 MLSs that make up the MLS Roundtable are all committed to taking meaningful action at their respective MLSs, and several of the proposed steps are already being addressed by them.
The hope is that the white paper will redefine the value proposition of MLSs in a new light and spur other MLS leaders, and their broker constituents, to recognize the urgent need to reconstitute the MLS.
The local association, Coastal Association of Realtors, joined BrightMLS, which went active locally in 2018 to address the industry changes.
BrightMLS is one of the 10 MLSs in the Roundtable, and is second in largest subscriber size out of those involved in the Roundtable. BrightMLS was formed from the consolidation of 43 visionary associations in the Mid-Atlantic, with a coverage area across six states and Washington, D.C.
The 16-page white paper is available for free download at mlsroundtable.com.
– Lauren Bunting is a licensed Associate Broker with Bunting Realty, Inc. in Berlin.