On Friday, September 20, 2024, Marilyn Wilson of WAV Group summarized the topics she believes the industry needs to proactively address before another round of litigation or regulatory push forces the industry to address them. Using a plethora of WAV Group research studies, Wilson provided balanced data on many topics. She said “I’m not here to provide you answers, but to provide you with comprehensive insights on each of these topics so you can have well-informed discussions in each of your local markets.”
The discussion covered a wide range of hot-button issues with the potential to threaten the industry. This engaging and thought-provoking talk encouraged real estate professionals to proactively address these challenges head-on.
Wilson shared eye-opening survey results and industry insights on topics such as Clear Cooperation policies, Open MLS, and the role of the National Association of Realtors (NAR). She highlighted the growing tensions between brokers and NAR regarding Clear Cooperation policies, the push for Open MLS access and the potential anti-competitive claims that can stem from local lockbox jurisdictions.
Data gathered from 250,000 practitioners via the widely adopted WAV Group MLS Customer Experience Index showed that 42% of respondents belong to more than 1 MLS. Her work with brokerages has revealed the need for universal MLS support to participate in technologies that enable dual MLS market listing input to save broker staff time and simplify listing input for agents.
Additionally, Wilson discussed the irreconcilable conflict between mandatory NAR membership and the lawsuit settlements prohibiting brokers from requiring NAR membership. She also previewed real estate consumer’s interest in greater transparency of referral fees. Throughout the discussion Marilyn emphatically urged every attendee not to hold onto real estate processes and traditions and simply hoping that no outside influences would force changes. She also reinforced that Associations and MLSs have a LOT to offer, but need to do a much better job of driving home their value proposition. She emphasized the importance of open dialogue and proactive decision-making to ensure the industry’s continued success.
This video below is a must-watch for brokers, Association leaders, MLS Directors and anyone involved in driving policy and process for real estate. Wilson’s insights into the complex issues facing the industry and her call for proactive solutions are both timely and relevant. This video will challenge you to think critically about the future of real estate and your role in shaping it.
Many of these topic will be keynote conversations at this week’s Council of MLS meeting. Marilyn will be moderating a panel at CMLS talking about the most productive ways to govern MLSs. Marilyn will also be speaking at the International MLS conference in Milan, Italy on October 8th and 9th.
If you would like Marilyn to help facilitate scenario planning to discuss these topics privately with your organization, feel free to reach out to her.
