PROView - January 2009 - (Page 16) MLS Update The Value of MLS by Jan Dean, Director of Information Services The December issue of RISMedia Real Estate Magazine (www.rismedia.com) featured the following article on the value of MLS by Saul Klein, CEO of Internet Crusade and Point2 Technologies. It struck a chord with me because my thoughts lately have been so similar. For those of you who don’t keep up with the latest real estate magazines, read on: All of us in the MLS arena understand the importance of the MLS and are passionate about what we can do to ensure that this remarkable institution continues to be effective and even innovative. In these days of shortcuts and, at times, apathy, it is important to remember that one of your most important assets (namely your MLS listing data) needs to be as complete and timely as possible. No one likes to receive the “friendly” reminders from the In 1897, Mark Twain was traveling in Europe and heard that MLS department of MLS Rules and Regulations violations, the New York Journal had printed his obituary. He responded but they serve a very important purpose. For those of you to a friend in a handwritten note: “The report of my death was who have provided your listing an exaggeration,” which over information to an advertising the years has morphed into “The magazine, a virtual tour provider reports of my death are greatly A popular recurring MLS theme or another source other than MLS exaggerated.” and discussion point over the and later found your listing on an A popular recurring MLS theme obscure website and in a different last few years has centered on and discussion point over the status, you understand what I am the idea that MLS is dead, or at last few years has centered on talking about. the idea that MLS is dead, or at least irrelevant. Nothing could be Our MLS department understands least irrelevant. Nothing could be further from the truth. your needs and concerns because further from the truth. we talk with you and hear your While listing information appears input on a daily basis. Thank you in many places on the Internet for your suggestions, your concerns today, entered by agents, brokers and consumers, it is often and yes, even your reports of others who may cut corners inaccurate, duplicative, and short on details. The best source or enter information that should not be there. It truly of accurate listing information remains the MLS, and MLSs helps everyone. today can assist their subscribers and participants in the P.S. I’ve just updated the “Where Your Listings Go” article that dissemination of listing information for marketing purposes you can use to show your customers just how effectively you through “single point of entry” and “syndication.” are marketing their property. If you don’t have the latest copy, MLS is of course, an “offer of compensation” and a “business go to the Tempo Sidebar and look for the article in the MLS to business” network, allowing brokers to share inventory and Reference Center section. gain maximum exposure for their listings, but it also provides the governance structure and mechanism to insure 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. 16 PINELLAS REALTOR® ORGANIZATION January 2009 http://www.rismedia.com http://www.TampaBayRealtor.com/benefits
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