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
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!