Colette Stevenson—founding CEO of REsides—envisions a real estate ecosystem with an MLS without boundaries. Leading the path forward to create the future of MLS, she built REsides to challenge the status quo and break long-standing MLS tenets.
Here, Stevenson discusses the inspiration behind REsides, Inc., pioneering leadership and why today’s MLS demands bold thinking.
Real Estate magazine: What inspired you to form the REsides Property Network that breaks boundaries and upends traditional MLS models?
Colette Stevenson: Three words: the changing marketplace. We had a 46-year history of a well-known and successful MLS, freed by REALTOR® association red tape, and we dissolved it and built a revolutionary new model to meet broker and agent needs and invest in ourselves. This affords REsides the opportunity to provide our clients even more freedom and flexibility to strategize with their MLS. REsides is uniquely positioned to adapt to rapid changes and offer a unique equity-ownership model for brokers and agents while providing critical guidelines that yield the best consumer experience.
RE: Your mom was an MLS CEO when there were few females in real estate. How did that influence you?
CS: Being the only second-generation MLS CEO was, surprisingly, what I was built to do. The pioneering spirit of my mom was fortified with a no-fear mentality, which heavily influenced my professional development. My affinity has always been toward a corporate ecosystem that needs modernization with the goal of creating lasting impact and leaving it better than I found it. It’s exhilarating. My mom started an MLS, and her best partnerships developed while influencing change. Watching a woman who learned early to employ calculated risks and leverage relationships taught me to be a strategic, resourceful thinker and to surround myself with talented visionaries.
RE: What are the key drivers for REsides’ growth success, and how is the MLS shifting?
CS: The MLS has never been just about listings. It provides a service and structure to real estate subscribers to contribute, share and maintain property information that benefits and enriches the consumer. Our network establishes a system without unnecessary rules and fees that encumber brokers and agents. REsides’ success is built on a diverse board of directors who are intentional, patient and visionary. It takes time to fully establish company balance and position it for today’s opportunities.
MLSs will now become more competitive. Differentiation is difficult and tricky, but now is the time to accelerate. REsides has been educating clients on what to expect from MLS, and the current climate is more open than ever to innovative approaches to encourage a competitive marketplace. Conversations today are on a new level—more strategic, more forward-thinking and with a deeper understanding of REsides’ value. We’re growing and making bold moves on a wide scale.
RE: What would you push the industry to prioritize next?
CS: Every MLS should be free to establish its own business procedures. Corporate success tied to the business model of another entity is a death wish. MLSs should 1) set the bar for service excellence; 2) be prepared for competition; and 3) invest in meaningful tools that impact clients. Today is your opportunity to chart a different path. RE
For more information, please visit https://www.resides.io.
