Where Real Estate Gets Its Dirt

Industry Relations Episode 41: Implementing Ocho, MLS Vendors & the #MLSBHAG Challenge

At present, MLSs are run like nonprofits. And without a way to raise capital, industry executives limit their vision based on the resources at hand. But what if there were no constraints? What kind of Big Hairy Audacious Goals could MLSs pursue with funding from deep-pocketed venture investors?

In this episode of Industry Relations, Rob and Greg are challenging MLS execs to consider what they would do differently with access to significant capital. Greg weighs in on the discussions around implementing the MLS Statement 8.0 Clear Cooperation Policy (otherwise known as Ocho) that took place at Inman Connect, describing how the differences among individual MLSs will inform its implementation. 

Greg and Rob go on to discuss how the challenges associated with switching MLS vendors benefit incumbents and why most MLSs adopt a system of choice approach to consolidation. Listen in for Rob’s take on how MLS execs constrain their vision based on the resources available and take up Greg’s challenge to think about what you would do differently with $5M, $50M or even $500M.

What’s Discussed: 

The discussion regarding how to implement the Clear Cooperation Policy at Inman Connect

How Ocho impacts Compass’ strategy for differentiating its listings

How the differences among MLS Coming Soon policies will inform Ocho’s implementation

The possibilities for interpretation around what qualifies as marketing 

How the challenges associated with switching vendors benefit incumbent MLSs

What’s behind the system of choice approach adopted by most MLSs

Why Rob contends that MLS execs constrain their vision based on resources

NAR as a trade organization vs. the MLS as a tech product + service provider

Greg’s challenge for MLS execs to consider what they would do with access to capital

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

Resources:

Inman Connect

MLS Statement 8.0 Clear Cooperation Policy

Homesnap Pro’s Predictive Analytics

Rob’s Post on the Clear Cooperation Policy

Rob’s Post on the Fundamental Problems in Real Estate

Business Insider Top 15 Real Estate Podcasts

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  1. Great podcast, guys! The Ocho is definitely a topic “du jour” around the virtual watercooler. Investment & reinvestment in the MLS industry topic should continue to be a major theme with your podcasts and should be explored further. Keep up the good work, my friends!

  2. Great as always. The 8 discussion is a janky topic with AORs. At our last OCR MLS Committee meeting we think we have ironed it out but definitely some spirited discussion.

    The lack of MLS orgs to buy or build there own tech solutions has always bothered me. HOWEVER, a little bird at an MLS told me they are working on a way to do just that. One of the services that I always thought was worth buying was Agent Inbox. It actually filled a valuable niche that existing vendors don’t provide – not really.

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