Madeline Island Real Estate Blog

MLS Consolidation Is On the Way & What it Means to Consumers & Agents

 

MLS Consolidation On the Way & What it Means to Consumers & Agents

 

To paraphrase the Greek philosopher Heraclitus, "the only constant (in real estate) is change". And if national real estate experts have anything to say about it, we are looking at another incoming wave of change in the way we deliver real estate listing data to the public.

 

A panel discussion at the recent Inman Connect event in New York revealed what's in store for our industry. The big revelation was the prediction that we will see perhaps a dozen large regional MLSs across America within the next decade or so, in place of the approximately 750 MLS entities now in existence.

 

At the present time, industry experts view today's MLS organizations as a mess, described as monopolistic, anticompetitive and slow-moving. Most MLSs are owned by local Realtor associations. And therein lies a big part of the problem.

 

Navigating our way towards a dozen or so large regional MLSs will take time. It won't happen overnight and there will be local MLSs (and local Realtor Associations) that will fight to slow down the inevitable change.

 

The problem with small local MLS entities is more than Association politics. Small MLSs overlap territories with larger, more efficient MLSs. There is duplication in MLS numbering, which adds confusion for buyers and sellers. Tiny MLSs typically represent a small property inventory (which becomes glaringly apparent when sellers are on the sidelines) and they lack the financial resources to keep up with the latest technology, which results in poorly-served buyers and sellers.

 

In our Apostle Islands area (Ashland and Bayfield counties in northwest Wisconsin), we have three different MLSs serving roughly the same territory. Some listings appear on SAAR (the Superior Area Association of Realtors), others on NorthstarMLS (RMLS of Minnesota & Wisconsin) and still others on the Northwest Wisconsin MLS (RANWW or Realtor Association of Northwest Wisconsin). 

 

The largest membership among these MLS entities in the Apostle Islands is NorthstarMLS, with over 17,000 agents and brokers in Minnesota and Wisconsin. RANWW, headquartered in Eau Claire, has probably the second largest agent membership roster. And SAAR is the smallest of the three, with perhaps fewer than 150 paid members.

 

Small MLSs under 150 - 200 members are being targeted for extinction, according to industry experts. These will likely be the first to be consolidated into larger regional MLS entities. [That prediction is essentially a quote from a speaker at Inman Connect, not my personal opinion.]

 

Along with the consolidation of MLSs, we will probably see some immediate improvements in professionalism and service to the public. There will likely be fewer pocket listings, fewer agents practicing dual agency and more peer pressure to observe ethical guidelines. The new industry model may not be as quaint or folksy as some would like, but real estate consumers should definitely benefit.

 

 

 

Contact Madeline Island Realty about Madeline Island and Twin Cities Real Estate

Call us for Information on Homes & Real Estate For Sale in Bayfield Wisconsin

Eric Kodner, CRS

Real Estate Broker in Wisconsin & Minnesota

Madeline Island Realty (La Pointe. Wisconsin)

Wayzata Lakes Realty (Minneapolis & Saint Paul, MN)

Our Listings Appear on NorthstarMLS in Wisconsin & Minnesota

Phone or Text Message 612.670.2539

MadelineIsland@Gmail.com

Madeline Island Realty

 

Comment balloon 9 commentsEric Kodner • January 24 2017 05:01PM
MLS Consolidation Is On the Way & What it Means to Consumers &…
share
MLS Consolidation On the Way & What it Means to Consumers & Agents To paraphrase the Greek philosopher Heraclitus, "the only constant (in real estate) is change". And if national real estate experts have anything to say about… more
Madeline Island Real Estate Buyers Picking up Late Season Bargains
share
Madeline Island Real Estate Buyers Picking up Late Season Bargains Almost every year, we see a late-season surge of home buying on Madeline Island and throughout the Apostle Islands area. 2016 has been no exception. Home buyers and vacant land… more
Words of Appreciation From a Client in Hawaii
share
Words of Appreciation From a Client in Hawaii One of our seller clients who resides on the Island of Maui wrote us today with a very kind testimonial. She wrote, "Eric Kodner of Madeline Island Realty was very helpful to us in selling our… more
Madeline Island Realty Salutes French American School of Minneapolis
share
Madeline Island Realty Salutes the French American School of Minneapolis At its 20th Anniversary Gala fundraising event yesterday evening for the French American School of Minneapolis (formerly the French Academy of Minnesota ), Madeline Island… more
The Cleanest House I've Ever Seen at a Final Walk Through
share
The Cleanest House I've Ever Seen at a Final Walk-Through Last week was a pleasant surprise. I took buyers through a final walk-through inspection of a gorgeous waterfront home in Bayfield, Wisconsin. Over the years, I've seen a lot of homes at… more
37640 Brickyard Creek Rd, Bayfield WI SOLD by Madeline Island Realty
share
37640 Brickyard Creek Rd, Bayfield WI SOLD by Madeline Island Realty One of our most significant listings in Bayfield, Wisconsin is now a closed sale. 37640 Brickyard Creek Road, in the town of Bayfield, Wisconsin has sold for a record high price… more
What Does it Mean to be Published in a Nationwide Real Estate Magazine
share
What Does it Mean to be Published in a Nationwide Real Estate Magazine? Since 2009, I've been fortunate enough to be published (or interviewed) a total of seven times in various nationwide real estate publications. That list of publications… more
What And How Are Just The Beginning - Why Drives Them To Action
share
I am re-blogging this post for obvious reasons. Most of our sellers need this kind of frank advice when preparing their home to go on the market. Most vacation homes, just like primary residences, benefit from staging advice. Whether this advice… more
Craigslist Rental Scam Complaint Reported to Police on Madeline Island
share
Craigslist Rental Scam Complaint Reported to Police on Madeline Island In our Madeline Island Real Estate Blog we've tried to warn readers about the perils of using Craigslist to advertise properties for sale or for rent. And we also routinely… more
A Crib Dock Can Add Value to Your Waterfront Property Shoreline
share
A Crib Dock Can Add Value to Your Waterfront Property Shoreline In our geographic area in northwest Wisconsin (the Apostle Islands region of Lake Superior), it's not uncommon to see what are sometimes described as "permanent docks" or.. more