MLS integration is causing a stir, just a stir, right? So we have one topic that we’re going to discuss here, and we’re going to specifically go over this with MLS and an integration directly with offers and how that works. It’s a California specific thing.
And so this is going to be just talking about, like some of the MLS processes, some of the things that the realtor association does and allows some of my grievances and would just kind of discuss that one first. So let’s show the article first, OK, and kind of discuss that.
We’ll give you guys this link and I’m going to go ahead and grab the mouse and control it. It is that person of blue hair. I don’t know. Let’s not get too distracted with that, Mike. It seems green hair or blue hair, whatever it is. All right.
So the nation’s largest MLS, it’s California and it’s the regional MLS. Yes. So they combined a bunch of them together, somehow in some way, shape or form into one larger wish.
When all the California people were coming, they would bring their MLS with them.
Yes. So they have certain things in their MLS that we actually like. Yeah, so we’ll go over that. But this MLS has a one hundred and ten thousand agents. Ok.
And what happened is they have this new piece of software that integrated directly in there. So what’s an do we have an example here locally of something that integrates with the MLS that agents can monetize?
Ok, so that’s a perfect example. So showing time is an example. So from within there, you can do certain things and it makes it easier, right?
Showing time schedule your appointments just one click of a button.
Yep, perfect. So this is the same type of thing with offers. Ok, but what would happen is when you put in an offer and your documents, if you uploaded a disclosure that the agents can click through it, and there was quite a few things with this that made it a little bit easier.
But so this company came up with this tool glide. And then what happened is Compass ended up going ahead and purchased this glide because it was working so well.
Ok, so let’s talk about what it was. So what this was is the ability to be able to submit an offer.
Right there through the MLS so you can make an offer, click a button, make an offer goes right to you as a listing agent.
And so I pulled up on the screen here some of their different examples of what happens, and this is their tool to be able to fill out a seller’s disclosure.
So you could go through and fill it out and hopefully make it easier on your client to fill it out, and it has tips and whatever that is. And then as you went down zip zip forms plus integrates there, so you could pull that in and then you could review your forms and put them in.
And the same types of things with your offers. They had a way that the offers come in, and I think it’s on this page here. I see because I don’t see it exactly, but it compares the offers, which was really cool. Mm hmm. And it shows what now that is cool.
Yeah, it allows for the clients to see the difference in the offers and what they are and compare them side by side really advanced. I mean, where we should be in today definitely is world of tech, and I think it’s really cool.
So they were, you know, they loved glide and then compass. Real estate purchase, they bought Glyde, so it’s the same as Zillow purchase showing time and people are like, Whoa, I don’t want to give all my data to showing up to Zillow. This is sneaky, right?
And I think the same exact thing that now everyone’s like, that was amazing. And as soon as it came out and it was proven and it worked, then compasses like, let’s buy that, let’s do that. And then everybody got some push back. So then they I think they did away with that.
But then they put it back in and made an optional
With so much demand from the brokers, they put it back, but they did it through the MLS tech.
So they put this in place, but then what happens is, you know, people like this stuff and it gets used. And then somebody buys it and somebody gets all the data. It’s all about the data and the culture, because now compass in theory sees every offer that comes through.
Imagine that if you were putting offers in as a buyer, think of all the information that’s there. Yeah. So but this is what price if you have one of your agents, they now like it just it smells really bad. Well, yeah.
And then this is my grievance. Ok, right? So this is where the whole problem comes in. Do they have all these different integrations that they allow to happen? Mm hmm. Right. And the data that we have as realtors or you have as realtors is is the key part. Right, right.
That’s where all the stuff is. Then they take all these integrations and they allow other companies to do it and then they get sold. So people adopt them and they’re happy with it. Then it gets sold to another agency and then everyone feels bad about it.
Why is the National Association of Realtors not doing that themselves and just creating this stuff if it can be done? Why aren’t you making your software so it functions better than like a dos operating system from like 1994?
Because they control.
No, it’s baloney.
They’re not MLS Yeah, well, the MLS, I don’t know who does all this stuff. I don’t know the right party to be upset with, but I’m upset. You know what it feels like to me, having a statewide MLS for me, I think would be great.
But it feels to me like the realtor association or the MLS tech that the agents get to utilize is very similar to like, you know.
When you go to the mall and you check out at certain registers and then all of a sudden the person hands you something and they have this keyboard in front of them and you’re like, you have a keyboard to check me out, and I start typing in and then they scan it with the oldest thing ever.
And you look at it, this huge terminal and you’re like, Oh my gosh. And they’re like, Yeah, this has been here since, like nineteen seventy eight. And you’re like, what in the world?
Or if you go to buy a car and they print out like the paperwork? Yeah, the paperwork.
And it’s like, this long the page
That on this printer, and you’re like, Where is this stuff coming from? Why are you using such old technology? That’s where I I feel this is all where they’re stuck, right? They’re like, No, we have this legacy system and we’re not changing it, and we’re going to keep doing it.
And then all of a sudden, you’re using that old register, and that’s where I feel the whole MLS tech is really at right now. And then all these other people are using like they open up and then they have like a slick iPad or like, sign here and tap your card here.
That’s good. Oh, you’d like an email to you? No problem. We’re good. Thank you.
So you guys know I’m a huge fan of, you know, in our MLS not displaying the address, I think that would be a huge thing that there’s so much opposition to it. However, California, they’re all about it. They support the no address display.
So that’s really weird that our opinions, our real estate opinions are directly aligned with California in their MLS.
Probably one of the crazier statements we would make. But we actually are. And we think that they’re a bit further ahead. They have a larger one. So it’s regional. Yeah. Well, there’s a lot there.
So I am curious if you guys would love that feature. Would you like the feature of being able to have somebody click and make an offer? But does that offer not have to go through a realtor? I don’t know enough about it right now.
It’s MLS logging in, but that’s the slippery slope that goes along with it. The only thing I think that, you know if.
But you can’t stop it in innovation because what happens is as soon as it’s out there now, the cat’s out of the bag, then it’s going to become public facing to be able to submit this offer through the system, a way to not cut out the buyer’s agent on that side. Right?
I mean, you have to have to be able to go, go in and manage that part of it.
Well, that’s when you go back to the old, the old register, and that’s what you get. Like super old register scabs. Yeah, OK. And now if you’ve shopped at Boscalid,
I don’t even know what that is. Yeah, only three you.
I know a couple of people who have, but they would definitely have that register at scouts. So those are a couple of things that you like and don’t like. But this discussion is just to give you more of a framework right for within some of the issues and where they sit.
And if you can discuss these, you’re more competent in a lot of different areas, right? And you see when articles come up about why this is happening or what’s going on here, what are the key points? And if you should be for it or against it?
But at least we try to have this discussion, right? So you can make an informed decision to think about it. You guys ever have MLS ideas? Send them to me. I submit them all the time.
Yeah, you totally do. So how long is their queue of things are currently working on? I don’t know. Five hundred five hundred items. A lot. That’s a good tech.