Last week MRIS and TREND announced a ground-breaking intention to find a way to partner with each other to create a brand new organization built with the fundamental goal to create a truly broker-centric MLS.
If the taskforce formed that has been at work for over ten months can be successful, they will open up a huge market opportunity for brokers in the Mid-Atlantic region. Collectively, TREND and MRIS cover 31,000 square miles, 17 million consumers, 7 million on and off market properties, and 10 million property parcels.
The group has drafted a Shared Commitment and Vision paper to help articulate the ultimate goal of the program. Here are a few of the highlights of the program that really caught my eye. Read my article here to learn all about it.
Building on the Shared Vision
I love the idea of a multi-state regional MLS that puts brokers and the rest of their constituents at the heart of their focus and decision-making. This idea inspired me and I began to think of places where you take this vision, so here goes.
What if the region of this new mega MLS could be defined by broker need rather than some artificial boundary based on the coverage of a real estate association or an MLS?
Customizable MLS Coverage Defined by Individual Broker Need
Here’s a crazy idea! What if the scope and geography of the MLS data offered could be dynamically defined by individual broker needs? For example, what if Broker A that operates in 4 MLS regions could have access to those four areas. Service offerings would also be available with the data from that custom created area. Fees would be defined commensurate with the specific geography the broker required,
Now Broker B operates in 14 MLS markets. They also can pay for the territories that are relevant to them and again provide a seamless data aggregation for their needs. Instead of a static definition of an MLS region, the broker would be at the center of territory definition. The scope of the MLS service offerings could be adjusted in real-time to the territory defined by individual MLSs.
Let’s play this out further – what if every MLS from Maine to Florida was seamlessly connected? This ultimate “mega MLS” could provide the data services available in the regions customized to the needs of every brokerage. Brokers that operate currently only in one MLS could stay the course and receive services the way they always have.
This vision of a completely customizable MLS region and service offering could revolutionize the role that MLSs play in a brokerage. This system would allow a broker to easily expand into new regions or even test the idea of moving into a new region without significant technology investment. What if this MEGA MLS negotiated contracts and pricing with several technology companies to help reduce costs and provide more choice, even for small brokerages. By seamlessly connecting data MLSs could open a ton more opportunities for brokers to grow and expand even in markets that are not contiguous.
I would love to hear your thoughts on these ideas! Thank you MRIS and Trend MLS for opening up all kinds of opportunities for us to think about!
