Tag Archives: NAR Anaheim

Extinction Event Horizon: Real Estate

It was the best of times, it was the worst of times. The recently concluded NAR Convention in Anaheim that is. On the one hand, it was great to see old friends, make new friends, and engage in some wonderful conversations about everything from IDX Policy to branding to dating habits of college students. On the other hand, the entire convention was infused with an air of obstinate unreality, as if we all were jewel-bedecked revelers on The Titanic, dancing the night way sipping on champagne….

Based on hallway conversations, based on drunken whispers at industry parties, and based on what I’ve read and heard over the past few months, I believe there is an extinction-level event approaching the real estate industry. And all of the official groups, all of the powers that be, have failed to address it. So I will.

There is, I believe, a real chance that in the next three to six months, we will see the splintering of the foundation of the industry: the MLS and the Associations. The world that comes next, a world without the Multiple Listing Service, will be one filled with unintended consequences.

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CMLS Reviews New IDX Policy: Thoughts and Takeaways

I just got finished with the webex presentation put together by CMLS (Council of MLS), an altogether wonderful organization for those people who care about these arcane issues. I’m sure the recording and/or the transcript would be posted by CMLS soon enough. This is just a couple of first impression questions/thoughts.

There are three main takeaways for me from the call:

  • The new IDX Policy represents the announcement of a new doctrine for treating listing data.
  • The key need is to separate “transport” issues from “display” issues, and to restrict IDX Policy to the latter.
  • The whole thing turns on the definition of “control”.

Based on what I’m hearing, I believe this policy will be one of the most important changes in quite some time. But I’m left rather dissatisfied because the central concept — “control” — is taken for granted by a lot of people. Leaving it undefined will result in having to revisit this issue time and again by each MLS over the next couple of years.

I also believe that vast numbers of NAR Directors who vote on the IDX Policy will likely be in breach of their fiduciary duty of care and subject to personal liability if a member should decide to sue. It points to a real weakness in the whole governance model at NAR, one that NAR should act to address quickly.

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