User41260_1_t Robert Rauf
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Data Sharing is here, A national MLS system is a real possibility

Like it or not we are getting close to having national access to MLS systems. It is likely the wave of the future especially with sites like Realtor.com.

Rumor is that NY is very close to a State wide MLS.  NJ has a lot of negotiations going on with the multiple MLS systems and many have begun data sharing... The big benefit here right NOW is that you may not have to belong to more than one MLS any more.  (I am aware that this may seem foreign to many readers here, but in NJ it is almost a necessity to belong to at least 2 if not 3 MLS systems).  With the Data sharing piece that is currently available you can drop one MLS and just use the one that you like the best, much like picking a software program that you are familiar with and running with it.  This is huge for anyone paying double MLS fees, and Great for anyone that stumbles across a buyer from out of town.. You will be able to pull info on their existing home, run comps to be sure it is priced right.... and as an extra service to your sellers you can differentiate yourself by finding information for them if they are moving to a different area, it could be emailing them a few listings or even finding them an agent in the new area that you can refer them to. 

This is not something to be scared by, it is truly something to embrace!

Here is an article by David Charronthat touches on the new frontier of the MLS The Untapped power of the MLS.

Have a great weekend!

Rob

Robert Rauf

Real Estate Mortgage Network

www.RobertRaufHomeLoans.com

 

 

 
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7 Comments on Data Sharing and a National MLS

We have already seen Agents in my board dropping the other MLS and just using the Jersey shore MLS system because of Data Sharing.... It is working to save agents money already!

08/22/2008 02:27 PM by Robert Rauf (REMN The Real Estate Mortgage Network)


I wonder here in Louisiana how the little fiefdoms will like losing their clout.

08/22/2008 02:33 PM by John Walters (Specialized Real Estate)


I would certainly like to see a state-wide system for starters.  I'm paying the double fees you mentioned so that I can do business on multiple islands in Hawaii.

08/22/2008 02:34 PM by Richard Dolbeare (RA), ABR, CRS, e-PRO - Hawaii REALTORĀ® With BS & MS Degrees (Century 21 All Islands)


Robert - That is very interesting news.  I wonder how soon it will happen and what kind of impact it will have here.  Thanks for sharing!  :)

08/22/2008 02:43 PM by Debi Ernst GRI, e-PRO, Broker/Sales Associate (St. Charles County, Missouri - Prudential Alliance Realtors)


John, we have been going through just that problem... everyone tries to protect themselves with out looking out for the ultimate client... YOU, The Agent!  We have seen some success here with data sharing, the down side is that some MLS systems will lose income, but the plus side, they will also gain by keeping an up to date and easy to use system that offers the bells and whistles of data sharing.

There are some stubborn hold outs that will ultimately end up being an Island unto themselves.

08/22/2008 02:49 PM by Robert Rauf (REMN The Real Estate Mortgage Network)


if we don't create it someelse will or at least try. I am sure that is what Zillow is trying to do.

08/22/2008 02:55 PM by Overland Park Homes & Real Estate:: Michael Russell (Overland Park KS Realty Executives )


I belong to three MLSs and it really is a pain.  Sometimes you have someone who is looking for a home in three towns that are all at the apex of three counties and it is such a pain to have to go into three different MLS and send them three separate emails with different links.  It is confusing for the customer too as each MLS has a different format and information is located in different places.  Keeping up with upgrades and changes in three systems is cumbersome.

I would like to have access to the whole state.  There are so many times that someone is just out of the area that I cover and I do not have information to help them.

Also, as an investor, I would like to have full access to the MLS in areas where I am looking.  I will do a much more thorough job for myself than anyone else will do for me when researching comps, rental history, etc.

08/23/2008 03:16 PM by Lisa Friedman Central New Jersey Real Estate (Pinnacle Realtors)


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Loan Officer: Robert Rauf (REMN The Real Estate Mortgage Network)
Robert Rauf
Toms River, NJ
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REMN The Real Estate Mortgage Network

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