My thanks again to CubiCasa for sponsoring last month’s Vendor Alley. It was great to see the CubiCasa team at MLS Reset with Megan McFarlane of New Mexico MLS.
Find out more about CubiCasa’s MLS Membership program and join the movement to make listing a requirement on every listing!
See you in Scottsdale! #MLSReset
I wanted to follow up on a previous post I wrote where I asked,
What would you say if someone asked, “What is an MLS?”
At that time I wrote:
“I’m struck by how difficult this question is to answer—even for myself, someone who writes a blog and co-produces a couple of podcasts in the industry. Part of the challenge, I think, stems from the recent settlement changes; we’re still working to define and understand the evolving role of the MLS.”
I received great feedback from the post, some of which I summarized in this Google Doc.
I then took those responses and fed them in to Chat GPT and asked for a two sentence response and a short paragraph. Here’s what it fed back:
“Two-Sentence Definition
An MLS (Multiple Listing Service) is a professional network where real estate agents and brokers share detailed property information to connect buyers and sellers. It ensures accurate, up-to-date listings and promotes fairness and efficiency in the home-buying process.
Short Paragraph Definition
A Multiple Listing Service, or MLS, is a trusted platform where real estate professionals collaborate to share accurate property details and market data. It acts as a centralized hub, allowing agents and brokers to connect buyers with homes and sellers with qualified buyers. By fostering transparency, fairness, and efficiency, the MLS streamlines the often complex process of buying and selling homes, making it easier for everyone involved.”
I then asked Chat GPT what it thought a Multiple Listing Service (MLS) not taking in to account the prompt I just fed it. Here’s what it said:
“A Multiple Listing Service, or MLS, is a trusted platform where real estate professionals collaborate to share accurate, up-to-date property listings. It connects buyers, sellers, and agents efficiently, ensuring transparency and fairness in the home-buying and selling process.”
I think the last one is my favorite of them all. What do you think?
NTREIS Expands Reach in North Central Texas with Addition of Waco Association of REALTORS
“Integrating the Waco market into NTREIS will deliver increased exposure for agents, enhanced listing inventory, and access to richer market data. For professionals in the Waco area, this collaboration brings greater visibility for their clients’ listings and buyers’ needs, along with cutting-edge technology tools designed to support their business success.
“Joining forces with the Waco Association of REALTORS® aligns perfectly with our mission to empower real estate professionals with the best technology and resources available,” said Kristi Davis, President, NTREIS. “This partnership strengthens our commitment to providing top-tier services to the consumer while broadening market opportunities for our members.”
Congratulations to Chip and Joanna on your new MLS!
Organizations around the country are navigating the question of “what’s next?” in the real estate industry. We’ve been exploring that by reflecting on the past and examining where we stand today. One of the questions we frequently ask is:
What would you say if someone asked, “What is an MLS?”
I’m struck by how difficult this question is to answer—even for myself, someone who writes a blog and co-produces a couple of podcasts in the industry. Part of the challenge, I think, stems from the recent settlement changes; we’re still working to define and understand the evolving role of the MLS.
When I checked Wikipedia, I found the first sentence to be completely wrong:
“A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.”
“Cooperation and compensation”? Uh, yeah, no.
Sam DeBord addressed this very question in his excellent three-part series, “What Every Real Estate Professional Needs to Know About the MLS,” on Real Estate News. If you haven’t read it (or if it’s been a while), I highly recommend revisiting it. Additionally, CMLS, in partnership with 1000watt, has done a phenomenal job with their “Making the Market Work” campaign. Both are worth a read—or re-read—because they provide insightful perspectives on the MLS.
But what I’m really looking for here is something shorter—a true elevator pitch. As a copywriter, I want something punchy, something that people can visualize and “get” immediately.
Here’s my first attempt (and I hope to refine this further):
“The MLS is a professional network of real estate brokers, agents, and other professionals that help people buy and sell homes.”
Now it’s your turn—share your version in the comments!
I’m off-site this week without my “Murder Board“. So sans my red string and push pins I’m still putting the pieces together. But here’s what I’m finding out.
In October 2020 a software company filed for an LLC under the name of Hana Software.
The directors of the LLC were Si Hyung Park (male), John Park, and Matthew Wissinger.
Si Hyung Park is a technologist and worked for many tech and consulting companies (https://www.linkedin.com/in/si-hyung-p-b03834/)
John Park is an owner of MetroBrokers Elite (https://www.linkedin.com/in/john-park-1b7b777/_). I don’t know if they are related. Couldn’t find any information on Matthew Wissinger.
In June 2023 they amended the LLC and Matthew Wissinger was dropped and Joesph E Burks was added. According the LinkedIn Joseph Burks is the President of Equity Title of Colorado (https://www.linkedin.com/in/joseph-e-burks-a7533a23/)
In January of 2024 a name change was filed. Hana Software is now RE-Sure (https://resure.realestate). According to LinkedIn Si Hyung Park is listed as the CEO of RE-Sure. That same month Joesph Burks also registered MAZL, LLC. Which is the entity that is listed that acquired REColorado MLS. Also some of these companies are listed at the same street address.
I had heard from a source that RE-Sure was making the round earlier this year (maybe last year) trying to get their forms solution adopted. As you may know the Colorado forms software market is pretty much locked up with CTMe (https://www.ctmecontracts.com/eContracts/wp/indexbottom.asp)
One of the MLS orgs RE-Sure was pitching to described them as “very full of themselves”.
Somewhat telling is the RE-Sure website lists SMDRA (one of the REcolorado shareholders), Equity Title, MetroBrokers Elite and Colorado Professional Title as “Our Client & Partners”.
Obviously these guys ( or maybe just Joesph Burks) had a relationship with South Metro Denver REALTORS association (SMDRA) for some time.
Not sure what all of this points too. I guess at the surface level maybe these guys think they can move the needle on the adoption of their forms solution by buying an MLS? But I doubt there’s enough revenue in forms software to justify this acquisition cost.
I’m hearing from a couple sources that something big is afoot. And the unconfirmed rumor is that REColorado has been sold to an “outside party”.
I don’t know who this “outside party”. A person, a private equity firm? But, I don’t think its another MLS organizations or association. In fact for this to happen I think the shareholders of REColorado, meaning Denver Metro Association of Realtors (DMAR) and South Metro Denver Realtor Association (SMDRA), etc. must be involved.
Can anyone confirm this?
Do Denver area brokers know about this? Do they care? I would think so. 🤯
Crazy if true. DM me if you know anything.
A couple of things from Stuart’s opinion post on Inman News I thought were interesting.
“The network effect has provided a dependable listing and buying network — creating a singular destination where an area’s buyers and listings are in the same place. The network effect has always been more important to consumers (and professionals) than publishing compensation and will continue to benefit consumers (and professionals) after the settlement. “
Stuart White
We don’t really think about how much the network effect matters in our business. We are just so used to it.
“MLSs must continue to make platforms easier to use. Designing an accessible and intuitive interface with user-friendly features allows seamless navigation, as both real estate professionals and consumers will be seeking enhanced productivity and efficiency. By making their products more accessible, MLSs reinforce their role as indispensable tools and empower users to achieve their goals with ease.”
Stuart White
Making MLS system easier to use has been a thing since I started in the business in 1992. I believe the industry has done a good job with point solutions based on features of MLS systems, but coming up with a new take on a MLS system itself is something I think about a lot.
Have you been keeping up with the latest updates in MLS policies? Rob and Greg break down the key details of Bright MLS’s clear cooperation policy and NWMLS’s decision not to remove compensation data from their system. But it doesn’t stop there. They also dive into the potential legal consequences for fair housing violations and federal antitrust claims.
They also touch on the Department of Justice’s involvement, implications for the industry, and potential risks for Northwest MLS and other players in the market.
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This podcast is produced by Two Brothers Creative 2024.
Bob Morse Joins dynaConnections as Senior Account Executive, Bringing Over Two Decades of MLS Software Expertise
“In his new role, Morse will leverage his wealth of experience to cultivate and strengthen customer relationships, ensuring exceptional satisfaction, and identifying strategic opportunities for growth. Morse’s deep understanding of the MLS industry positions him as a valuable asset in guiding dynaConnections towards continued success.”
dynaConnections
Great hire. Congrats to Bob and dynaConnections.
