The Big Switch – Brokers Benefiting From MLS Data Like Never Before

by Victor Lund on April 25, 2018

WAV Group would like to invite you to a webinar where we have invited two of the industry’s largest MLS data companies to tell their story of a quiet revolution that is taking place in real estate and what it means for brokerage firms and their agents. The entire industry is in the middle of a data feed switch, and everything is impacted. Most brokers are in the dark about this important conversion that is powering all of their software solutions.

The multiple listing data is the lifeblood of operating brokerages today. It has been for quite a while. It powers your website, your marketing systems, your online advertising programs, your CRM, your market analytics, your accounting, and so many other systems. For decades, we have relied on RETS, but that is changing right now – and it’s profound. You need to understand this conversion to ensure that your technology vendors are keeping up.

But the truth is, very few brokerages ever touch MLS data. That work is left to the dozens of technology partners that build software for the brokerage and their agents. The broker’s limited action is to sign the MLS paperwork to enable their vendors to connect to the MLS data.

A massive amount of change is happening in MLS data management today. Setting the stage for this conversion impacting every MLS, and every broker technology in the nation, will be Rosemary Scardina, MLS Director of the New Orleans based Gulf South Real Estate Information Network. Rosemary will tell us how she has carefully planned a conversion happening later this summer that is designed to minimize any negative impact to broker and their technology partners while providing an upgraded data delivery experience. Moving hundreds of data feeds from one system to another is no easy job and certainly isn’t done overnight.

In the case of CoreLogic alone, about half of all MLS data in America has been reformatted to allow MLS to become RESO certified. For your technology vendors, that is a complete restart to map the data in each of your MLS markets again. Joining the webinar will be Amy Gorce, who oversees this operation for the company. CoreLogic put the MLS data into a system called Trestle™, and it is saving the technology vendors a bundle of time and money – and improving the speed of getting data from the MLS into your brokerage applications.

One of the nation’s largest technology vendors is Dominion Enterprises, operators of Homes.com. Aside from operating the portal, they are also one of the largest providers of technology products and services to brokerage and agents, including IDX websites, marketing solutions, lead management, CRM systems and more. They are believed to have 100% coverage of MLS data in America, literally every market. Every minute of every day they are updating the entirety of MLS data in America to run on their software. Joining the webinar will be Andy Woolley, General Manager for the company. They are in the process of converting all of their MLS data feeds from the old RETS system to new systems like the Web API and Trestle. It’s faster, better, and less expensive to maintain. Andy will give us the inside scoop.

Register for the webinar here, which will be hosted on May 1st 10:00am Pacific. We will be sending out a recording to all registrants after the session has ended.

{ 3 comments… read them below or add one }

Ken Jenny April 26, 2018 at 8:56 am

With all due respect, there never should have been the need for a “switch.” Standardized data is an integral component of the “standards” of any functional data management system. Especially as in the case of the MLS industry, where there are more than 670 of them. That alone is insane by any standard. But as usual in the case of the MLS industry, it is the last consideration. When you operate a business as a one-way data trap with huge taxation and fees to get your own data back, that is all it is – a trap. Not certain, but I recall that this RESO standard (not unlike RETS) was “mandated” by the NAR, to be in place nationwide in all MLSs many, many months ago? Yes? This snail-paced change is exactly what you should expect when you have an industry that is operated by “optional NAR standards.” And I guess that this adoption of a standard is rightfully called a “revolution” when the MLS does something – anything – to finally benefit its broker and agent users.

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David Gumpper April 26, 2018 at 2:24 pm

Hi Ken:

RESO just launched a Brokers Advisory Group at this weeks RESO Spring Conference. There is a call out for participation by Brokers. I am chairing the group and would think it would be great for you to be a member. We need voices to ensure the standards are aligned with brokers wants and needs in delivering great services to its agents, and most importantly, to the consumer. RESO is looking for input, lets help!

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Becky Boomsma April 26, 2018 at 10:23 am

Currently utilizing NJMLS and GSMLS, along with RPR.

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