Point2 Technologies, Inc., a Canadian based firm announced a national listing service to all of its members yesterday and to the general public today. Because both of my websites are Point2Agent websites, the technology being used for Point2 Technologies National Listing Service is familiar to me. Any listings currently featured on my website are part of this NLS allowing them to be viewed internationally. Until Point2 opened their doors to "non-members" today, only members participated in this exceptional service.
The MLS first started as an offer by the listing agent to compensate any agent who brought in a buyer. They were not a marketing tool like they are today. There are many MLS's across the nation usually divided by region. In Minnesota there are several as well: SEMAR MLS (Southeast Minnesota Association of REALTORS), RASM MLS (REALTOR Association of Southern Minnesota), RMLS of MN (Regional Multiple Listing Service of Minnesota . . . that's the Twin Cities), SCAAR MLS (St Cloud Area Association of REALTORS), and GLAR (Greater Lakes Association of REALTORS). Each of these MLS's is totally separate and independent.. Since I'm in St. Paul, I do not currently have access to the other MLS's in the state. I use the RMLS of MN. Some agents are members of more than one association and list in more than one MLS as a result.
The NLS of the future will give both you and I the advantage of online searching for properties in other regions without having to contact a REALTOR first. What the regional MLS's will evolve into will surely be impacted by competitors like Point 2 Technologies and Zillow. The NLS systems probably will not be impacted by the rules and regs we currently tolerate from the owners of the MLS system. At the same time, the NLS may not have the same high standards of quality information and photos because there is no regulatory governor. With an NLS, the quality of the information will be governed by each individual agent.
Joseph, Because I've had a Point2 website for a couple years now, I'm familiar with their input system. I really like the additional pictures and ability to hook the picture to each room's description. Our MLS did not understand that the Point2 listings were not downloaded from the MLS so flagged me for not putting the Broker Reciprocity logo on the Point2 Handshake (NLS) page. I now call that page, property ads or something similar in order to satisfy the MLS. Whether I'm wrong or not, their perception of my wrongness would have generated a fine! ;-)
Posted by: Bonnie Erickson | January 06, 2007 at 05:32 PM
I went to the site and it is interesting. It even allows comments on the listings, if I recall. That should be interesting. We thought of incorporating that feature but feared it could be rigged.
They don't allow FSBOS but the FAQ seemed to suggest the possibility.
Thanks Bonnie.
Posted by: jf.sellsius | January 06, 2007 at 02:51 PM
Larry,
Regardless of whether we want it or not, it's coming. My guess is our industry is in the throes of a radical change. My crystal ball isn't showing the end result either!
Posted by: Bonnie Erickson | January 05, 2007 at 11:22 PM
Very Interesting.
Posted by: Larry Cragun | January 05, 2007 at 01:09 AM