Key members of the executive team of Stellar MLS partook in the MLS forum in Paris, France. These members shared best practices for driving innovation and efficiency in the real estate industry.
Stellar MLS CEO Merri Jo Cowen, COO Shayne Fairley and Vice President of Technology & Innovation Mathew Kallumadil took part in the International MLS Forum: Global Real Estate Standards, December 1-2, 2023 at the Pullman Montparnasse hotel in Paris, France. The event drew industry leaders from five continents and more than 35 countries and featured panels exploring the 100-year legacy of MLSs in the U.S. and the potential for international real estate markets; benefits of standardized data; innovation and tech trends empowering brokers and agents; and investment opportunities in emerging MLS markets.
Cowen moderated a discussion on the “Benefits of Standardized Data Sets to Public and Private Institutions” and noted that “while there are many differences in real estate markets from country to country, there are many commonalities we can bring together to help create an ecosystem that works in each unique environment and bring the value of the MLS to them.”
The forum was an opportunity for real estate professionals from across the globe to hear best practices from successful U.S.-based MLSs. “In Europe, the difference in transacting real estate is startling—from the lack of consolidated and accurate databases to the way brokers conduct business,” Cowen said, and pointed to how CEPI, the European Association of Real Estate Professions, is working to elevate industry professionalism and knowledge among its member countries. “Getting to know European leaders and learn about their individual countries was invaluable,” Cowen added. “The network created by attending was invaluable, and the opportunities to help the global market move toward organized real estate and data standards are exciting.”
Fairley, who participated in a panel titled “Investment Opportunities in Emerging MLS Markets,” said the forum provided a unique opportunity to showcase the value of the MLS and the importance of accurate data to empower real estate professionals.
“The conference was timely in that the desire to make a change in the European market was evident and Stellar MLS was able to demonstrate our willingness to collaborate to assist these new markets,” Fairley said. “Stellar MLS is in a unique position to elevate real estate beyond the bounds of North America, with a long legacy of operating a successful MLS, with far-reaching partnerships and data shares, and with our track record of customer service excellence. We will be ready when Europe is.”
Kallumadil, who presented in two technology-focused discussions, said the conference highlighted that the biggest challenge for some European markets is not technology or data, but the mindset of real estate professionals about changing their current operating methods.
“It is critical to educate real estate professionals on the benefits of collaboration and data standards and opening up the doors to the largest asset class for innovation,” Kallumadil said.
“There is a general global desire to adopt a real estate infrastructure comparable to organized real estate in North America, and this forum gave us the opportunity to discuss details with key stakeholders in the European market about their unique challenges.”
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