In the current real estate landscape, there is a call for MLSs to create a structure that is responsive to local broker needs while continuing to facilitate an orderly marketplace. For many, this means consolidation, yet even the word “consolidation” brings images of loss and destruction, fear and distrust. But the National Association of REALTORS® and the Council of Multiple Listing Services say that with better information and resources, MLSs can assess how to overcome challenges and mitigate member frustration.
Whether through consolidating, merging, data and technology sharing, group buying, or administrative support agreements, MLSs have removed barriers that create inefficiencies and empowered participants and subscribers to focus on serving the consumer. In the new MLS Consolidation Resources tool kit created jointly by NAR and the Council of Multiple Listing Services (CMLS) and available at nar.realtor, you’ll find innovative and progressive ideas on how to move the industry forward while maintaining the MLS as the cornerstone for an orderly marketplace. The tool kit also features MLS success stories, a list of specialized consultants, and a “MLS Consolidation Activity Report” that tracks the actions currently underway nationwide.
One of the most recent MLS mergers is between the Carolina Multiple Listing Services and the North Carolina Mountains Multiple Listing Services, completed in January. The consolidation process started more than 10 years ago and is detailed in a case study that is part of the MLS Consolidation Resources. The study details the main drivers of the consolidation, the leadership’s decision-making processes, and how technology, financial, and governance issues were reconciled. Visit the kit’s “Success Documents” section for an updated list of articles, studies, videos, and news on MLS optimization strategies.
Complementing the MLS Consolidation Resources, CMLS has launched a nationwide campaign highlighting the value of the Multiple Listing Services system. The campaign’s slogan—“Making the Market Work”—communicates the fundamental place the MLS holds as a guarantor of basic principles real estate professionals rely upon.
The campaign, which was previewed at the 2017 NAR Legislative Meetings and Trade Show in Washington, D.C., is centered on three core benefits that the MLS system provides. The first is confidence: The MLS safeguards market information and enforces rules that govern market participation. This allows real estate professionals to do their jobs with a confidence that would not otherwise exist. Second is connections: The MLS creates connections between professionals with properties to sell and those with clients who may buy them. It is the platform on which those who make transactions happen come together. The last benefit is community: The MLS sustains a dynamic community of professionals where competitors cooperate to make homeownership happen.
For more resources, including print-ready promotional materials, social ad templates, and a marketing guide for the campaign (only available to CMLS members), visit councilofmls.org.