Congrats to RESO for recruiting a smart, passionate group of leaders representing many of the best and brightest companies in real estate today. I love that there are strong leaders like Caitlyn McCrory from Anywhere and Joe Wilhelmy from Re/MAX elevating the voice and influence of brokers in bringing the practical realities and data challenges to be address by RESO.
With the new focus and discussions about offering MLS access to all licensees, due in large part to a series of lawsuits, many associations and MLSs are building out their paths for moving forward to make MLS accessible to all licensees within their state. While many are building pricing strategies that offer MLS services to REALTORS® and licensees either at parity or with a slight member discount to REALTORS®, others are going in the opposite direction.
Today, CRS Data, one of the nationwide leaders in public records software, announced their re-entry into the MLS Data Quality Control software space with their new product called ListingIntegrity. This software category has heated up recently with the launch of this product, plus Checkmate from VestaPlus, and the relaunch of Data Checker from Corelogic.
While the MLS has evolved into a technology company over the last several decades, the leadership and governance structures of these independent entities have lingered in their REALTOR association roots.
North Carolina Regional MLS is embodying a move to reflect a humility and recognition that we are all better when we work together. Their new name Hive MLS reflects the character and culture of their organization. They are a group that is driven by how they can consistently improve at serving the needs of their end users and the shareholder associations they partner with. Unlike some MLS brands, Hive MLS positions the company as a humble servant to the greater good and the success of the real estate professionals they serve.
Today, local Associations provide lockbox access only to their local members. Some provide 1-day access codes with an additional cost to those outside of their territory. Others flatly refuse to provide access to members of other associations or MLSs they deem competitive. In Louisiana, for example, there are three markets equidistant from one another. Two of the three have agreed to provide reciprocal access, yet refuse reciprocal access to the third.. This type of anti-competitive behavior is completely counter to earlier proposed agreements with the DOJ that required statewide lockbox access to all licensees.
Local real estate associations play a crucial role in supporting agents and brokers, providing services that range from professional development to community engagement. But how do members perceive the value of these services? Our recent survey of real estate agents and brokers reveals valuable insights into which offerings resonate most and where associations might refine their focus to better serve their members.
The Clear Cooperation Policy, which mandates REALTORS® to list properties on NAR-affiliated MLSs within one day of signing the listing agreement, is under scrutiny from the Department of Justice (DOJ), which has revived its investigation into the association’s rules. NAR has announced plans to appeal a court decision allowing the DOJ’s inquiry to continue. The discussion has also reached emergency status because of a Clear Cooperation Lawsuit scheduled to go to trial in November.
At WAV Group, we are passionate about finding ways to ensure the long-term success of the real estate industry by protecting the best interests of real estate consumers. The on-going spirited debate around the Clear Cooperation Policy centers around different brokerage and MLS beliefs about the ways to serve real estate consumers.
WAV Group shares the results of its Clear Cooperation Study to gain directional insights into the feelings of brokers and MLSs regarding the Clear Cooperation Policy incorporated into the model rules by the National Association of REALTORS®.
I just had a very interesting conversation with some well-heeled luxury brokers from Los Angeles. They told me that since the new requirement to sign a 14-page State-sponsored Buyers Agency Agreement before showing a property has gone into effect, they have seen a dramatic rise in dual agency deals.
After receiving about my 15th call is as many weeks from a distraught Association Executive telling me they just been fired, mostly for irrational and indefensible reasons, I just had to get my thoughts down to see what we can do to fix this systemic problem. I wrote an article entitled Why are so many of our strongest Association Executives getting fired?, about the ill-fated careers of many amazing Association staff leaders.
