A real estate professor weighs in on the future of MLSs
According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs. Matthew Blake, senior real estate report at HousingWire, spoke with Baruch for this episode of Houses in Motion, a HousingWire Daily miniseries.
The two also discussed the quirks of the real estate economy and areas where real estate is a pretty distinctive sector, for better or worse. This includes the use of Multiple Listings Services, and the cooperation, consolidation and potential conflicts between MLSs and consumer listings sites like Zillow.
Here is a small preview of the interview, which has been lightly edited for length and clarity:
Matthew Blake: How might you see the MLS system changed to benefit agents, and what are potential areas of improvement?
Sonia Gilbukh: I am worried about MLSs going forward. Zillow rolled out their for sale by owner by platform where the seller can directly put their house on Zillow without dealing with an agent and without putting the home on the MLS. So that creates the possibility of listings being in different places and not consolidated in one platform. And I think that might create a lot of inefficiencies, I think consumers would really benefit if all the listings instead were in one place.
So, I think it’s going to be tricky. We might start seeing these big tech companies offering their own platforms to try to become that big platform instead of the MLS.
HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. If you have a pitch or an inquiry relating to podcasts, you can reach our team at email@example.com
Below is the transcription of the interview. These transcriptions, powered by Speechpad, have been lightly edited and may contain small errors from reproduction: