Do we need a national MLS system? Compass owner Robert Reffkin recently called for a national MLS system at this winter’s Inman Connect conference in New York.
Reffkin stated there shouldn’t be hundreds of MLS’s, but a single one. I couldn’t disagree more.
His argument is more and more consumers are going to Zillow or Realtor.com, so for that reason we need to build a single national MLS system.
Not only did Reffkin call for a single MLS, he is also calling for a single CRM and mobile search platform.
How can someone so smart, say something so …. well I will be kind, something so not smart.
How about this Mr. Reffkin, how about a single national brokerage too? Why do we need so many brokerages? Shoot… if Zillow is already acting as a national MLS, and they have a CRM, and they are everywhere, let’s fold up Compass and add them to the new national brokerage Zillow.
When does less competition and less choice ever lead to a better experience for the customer? Go ahead, think of something. I will be just waiting right here for someone to come up with a great example.
Getting a car ride to the airport was a way better experience before Uber right? Apple was a much better company when they were chasing Microsoft and other companies and innovating.
While there is more garbage on television every night than ever before, there is also better shows than every because instead of just ABC, NBC
Remember the glory days of Friendster or MySpace? Why did we need Twitter and Facebook anyways?
Competition makes everyone better. Without competition you become stale. You become the FAA where the technology running our airports and air traffic control is outdated because there is no incentive to get better.
Imagine if we only had one brokerage, why would we need a Compass. Compass is known as an innovator in the real estate market. But if we would have all just consolidated around a Century 21, or a Coldwell Banker brand to fight Zillow, would that make us better?
The answer is not less competition, the answer is more people working more angles to make our industry better. Any business owner who does not realize this, well maybe they should look at a political career because DC is one place great ideas can quickly go to die.
The Phoenix Real Estate Guy was started by Jay Thompson, and I have a little blogging problem... he liked to say...
A national MLS not so much. But a state wide MLS would be a great idea and open up more business vs having politics involved like you have with most “local” Realtor associations. Most brokerages can be ran online and over the phone now not like the old days to where you needed a local office to scroll through the MLS on paper or to collect a fax. Having a state wide MLS would offer more competition which in the long run would help the agent make more money in commissions.
I kind of agree with the poster above. A statewide MLS is more 21st century. People fly more and drive more. Although, it hurts the local realtors when a guy from Tucson is showing homes in Flagstaff or Prescott. Working with local experts is best due to local laws and much more.
Thanks Dean for one more helpful share! you’re right..local agents don’t need national MLS listing. It will cost a lot..and not really necessary to get in touch with clients.
A national MLS is a bit much but I could back up a state wide MLS. Many MLS’s throughout the state are acting too much like a union or just another lazy government organization. If it was state wide, then agents could compete in other markets that they typically would not sell in unless they “pay the union MLS boss”. But I agree that if we did a national MLS, we are basically folding our cards to the zillow’s and redfin style companies.
Hello Dean,
I would like to say thank you for sharing this Informative article with us. This is an Interesting article. Keep share more!
“When does less competition and less choice ever lead to a better experience for the customer? Go ahead, think of something. I will be just waiting right here for someone to come up with a great example.” I couldn’t agree more with this article and especially this sentence. The idea in itself is not bad. They could go ahead and do a national MLS. But usually ideas coming from authorities are not things that people can choose voluntarily afterwards, it is rather forced on them and the former competition “verboten”. And that something like that would happen is quite likely in an already quite regulated regulated real estate market.