The Value of MLS

Internet Strategies by Saul Klein

RISMEDIA, Dec. 26, 2008-In 1897, Mark Twain was traveling in Europe and heard that the New York Journal had printed his obituary. He responded to a friend in a handwritten note: “The report of my death was an exaggeration,” which over the years has morphed into “The reports of my death are greatly exaggerated.”

A popular recurring MLS theme and discussion point over the last few years has centered on the idea that MLS is dead, or at least irrelevant. Nothing could be further from the truth.

While listing information appears in many places on the Internet today, entered by agents, brokers and consumers, it is often inaccurate, duplicative and short on details. The best source of accurate listing information remains the MLS, and MLSs today can assist their subscribers and participants in the dissemination of listing information for marketing purposes through “single point of entry” and “syndication.”

MLS is, of course, an “Offer of Compensation” and a “Business to Business” network allowing brokers to share inventory and gain maximum exposure for their listings, but it also provides the governance structure and mechanism to ensure the quality and accuracy of the listing data. The question today, in the age of information, the Internet, and a connected world, is whether the MLS can be more. Can MLSs serve to be the focal point, the trusted source of information upon which real estate professionals and consumers can rely with confidence?

As we begin to emerge from the real estate slowdown sometime next year, MLSs are positioned to lead the industry in innovation. It will be a challenge, to meet the needs of a changing member base, but our MLSs are up to the challenge.

Saul Klein is CEO of InternetCrusade and Point2 Technologies Inc.

For more information, please visit www.point2agent.com.