CMLS 2013 Conference Recap (Boise, ID)
This week is the CMLS Conference, which brings in MLS Execs, AE’s, vendors, and key industry players. It is taking place this week in Boise, Idaho, and I have the privilege of being part of it as an attendee.
The Council of Multiple Listing Services (CMLS) is an organization, not affiliated with NAR, that GSBOR is a member of. This is my first time ever attending this conference, and I’m not really sure who we have sent to the conference in the past. The timing for me to attend couldn’t be more perfect since we are right on the brink of change with our vendor, the new SOMO Regional, and other major changes, updates, and upgrades of our current Springfield MLS.
Klowd.com
The opening keynote “Return To Awesome” was done by Justin Foster, who created SlideKlowd, which is an audience engagement platform. The platform actually has nothing to do with MLS, but the inspirational opening was to get everyone thinking with an open mind and be conversational.
The SlideKlowd app allowed you to follow along on your computer, iPad, or smartphone with his slides and comment on them as he went. It was simple icons, and it would survey the audience as they went to see what they were thinking. It allowed him to tailor his presentation as he went along to what the audience was grasping. Quite cool. His presentation was motivational in terms of running an MLS and made a whole lot of sense.
SourceMLS™
The SourceMLS™ is a badge that we may need to consider pursuing for our Springfield MLS and the new SOMO Regional MLS.
This is a highly regarded certification of MLS data.
If we meet the criteria and apply for the badge, this will certify that our MLS is top-notch and has accurate, reliable data.
This badge will become more and more prominent over the next year.
If we want to remain on the cutting edge, maybe we should look into it further.
Whisper/Off-Market/Coming Soon/Pocket Listings
You may have seen my recent post on Pocket Listings, so you know how I feel about them. There was a ton of talk about them, and they are referred to in all sorts of catchy buzzwords like:
Whisper Listings
Coming Soon Listings
Pocket Listings
After speaking with a friend at the conference, who is vice-chairing NAR’s MLS Policy Committee, I learned that this is heavy on NAR’s radar.
There have been a lot of considerations, by other MLSs, to create a category of “Coming Soon” so that the listing is “previewed” on the MLS and allows agents to pique the interest of their buyers and build a vibe of properties that are coming on the market.
Again… it was reiterated that no one actually benefits from a pocket listing or whisper listing:
The seller typically doesn’t get the highest price possible for their home.
The REALTOR® doesn’t make more money.
The MLS doesn’t have accurate data for DOM (Days On Market).
Appraisers don’t have all the data to provide accurate appraisals on the market area.
We’ll talk more about this later.
Syndication
This, quite possibly, may be the hottest button of them all. I am a firm believer that syndication should be in the hands of the broker, and they should decide:
• Who they want to send their listings to.
• Who they want to advertise with.
I do, however, believe that the MLS should provide the vehicle for the syndication.
This is currently what Springfield MLS does with Point 2—the brokers control it, the MLS provides the vehicle for it. Opt-in style.
I met with ListHub and got some great information on how the syndication companies work. I am really liking their service and believe that we should look into this further. I am in the gathering information stage on this and will bring it to the Springfield MLS directors for their review.
Public-facing websites are still a big deal. There are pros and cons. This, too, I need to do a little research on.
Networking
There was plenty of networking that happened and kicked off with attending a reception at Boise State University.
I met with regional MLS General Managers and their respective staff members.
I met and greeted our new flexMLS vendor, who gave me tons of cool Flex swag that I will bring back to you—call me up and come get it! First come, first served.
The event was held on the BSU campus, overlooking the blue football field, which was pretty cool—even for someone who doesn’t care about football.
I had dinner one night with Diane and the fabulous KCRAR/Heartland MLS crew from Kansas City. They were very open and gave me great insight into how a regional MLS and Association is run. It is always great to get some fresh perspectives and new ideas.
Other Things
CMLS is not affiliated with NAR, but there are some who would like to see more of a bridge between the two.
Elliot Eisenberg of GraphsandLaughs.net gave his session called “A Market Perspective” and listed the Top 10 Reasons Why Things Are Improving:
Industrial production has almost fully recovered.
Short-term rates are staying low for a long time.
The corporate sector is thriving!
Consumer sentiment is really improving.
Europeans are turning things around.
The rich are doing well.
SF & MF prices, starts, and sales are all up; inventories and vacancy rates are down.
Household de-leveraging is almost over.
Hydraulic fracturing (Fracking) is creating lots of opportunities.
Congress can’t stay dumb forever. Then again…
Elliot’s session was hilarious, and I encourage you to read his blog, where each post is 70 words or less.
MLS/Broker Conflicts and the Cryptic Message
One of the most intriguing panel discussions was about MLS/Broker Conflicts.
Craig Cheatham of Realty Alliance said:
“We want MLS to be enablers of real estate firms. That would be the primary goal and focus.”
However, he was very cryptic and confirmed a comment on the Notorious R.O.B. blog about MLS being a public utility. At the final wrap-up, he got emotional while talking about a 48-page white paper that will be released soon. He described it as a summation of things that take us on the road to conflict.
It was eerie the way he said it. Stay tuned.
Final Thoughts
Some of the other topics covered were:
• Legal updates
• Consumer focus
• Social media use
• Data protection
• Big data mashups
• Green initiatives
This is by no means an exhaustive update. If you’ve stuck with me this long, let’s grab lunch and chat!
This post was originally published on springfieldaereport.com on October 4, 2013.
