Real estate brokers urge MLSs to modernize before agents find workarounds
CMLS Open House panelists pointed to AI, fewer SaaS layers, and standardized data as priorities for reducing friction across markets
The call from real estate brokers to modernize Multiple Listing Services (MLSs) is a significant development, especially for those in the lot and land sector. The current inefficiencies and lack of standardization across different markets can lead to frustration among agents and brokers, potentially driving them to find alternative solutions that bypass traditional MLSs. This could have far-reaching implications for the industry, as it may lead to a fragmentation of listings and further complicate an already complex process.
The priorities outlined by the CMLS Open House panelists - AI, reduced SaaS layers, and standardized data - are particularly relevant for lot and land professionals. For instance, the use of AI could help streamline the search process, allowing agents to quickly identify suitable properties and reducing the manual workload. Similarly, standardizing data across different MLSs would enable seamless sharing of listings, making it easier for agents to access and share information.
As the industry continues to evolve, it's essential to watch how MLSs respond to these calls for modernization. Lot and land professionals should keep a close eye on developments in this space, particularly in terms of technological advancements and changes to data sharing protocols. The next step will be to see whether MLSs can effectively implement these changes, and how they will impact the way agents and brokers operate in the lot and land sector.
Originally reported by housingwire.com. LotNews adds analysis for real estate & property readers.