A New Path Forward for MLSs

By Arianna Marino | October 31, 2024

The PropTech Innovator Network is a group of C-level PropTech executives who meet monthly to discuss the latest technology trends and receive unique insights from influential MLS & Industry leaders. On October 30, 2024, the Network welcomed special guest Ryan Castle, CEO of Cape Cod & Islands Association of REALTORS® (CCIAOR) and Cape Cod & Islands Association MLS (CCIMLS). With a background that spans government affairs, journalism, and association management, Ryan has become a prominent name in the real estate industry since assuming his role in 2014.

Ryan Castle Conversation Highlights:

As the real estate industry faces an uncertain future and navigates ongoing legal pressures, Castle’s vision for the industry is rooted in collaboration, transparency, and adaptability. MLSs are at a turning point: by focusing on data integrity and collaboration, they have the opportunity to establish themselves as indispensable, forward-looking institutions in real estate. He emphasizes that to truly evolve, MLSs must challenge long-standing practices and question why things are done in a certain way. “MLSs need to think outside the box,” Castle asserted, encouraging MLSs to reimagine their processes and be open to innovative solutions that meet the needs of a changing market.

In contrast to the current listing-centric database structure, Castle explored the idea of a more comprehensive, property-centric approach—an ambitious model that reimagines MLS data as an exhaustive resource covering all properties within a region. He believes this shift could significantly strengthen the value of MLSs, especially as they redefine their role in a post-settlement landscape.

Castle also highlighted the importance of building strong, strategic partnerships with technology vendors. He sends a message to focus on solutions that align with member needs and provide clear, measurable value for the everyday practitioner. For PropTech companies, this shift offers a unique opportunity to optimize their solutions by fostering stronger relationships with MLSs and gaining clarity on how best to serve them. By delivering solutions that are precise in how they address current challenges, tech companies can position themselves as essential partners to MLSs in navigating these times of change.

Member News & Updates

Tim Quirk: Final Offer launched in Connecticut, New York and the Berkshires, Massachusetts, in collaboration with William Pitt - Julia B. Fee Sotheby’s International Realty.

Dominik Pogorzelski: Restb.ai and Lundy announced a partnership to combine their tech for MLSs that use both to create a better experience for the end user. 

Bill Gaul: In October, BuildersUpdate.com increased its agent reach to 800,000 US based agents while growing its housing inventory across the US and Dominican Republic, Costa Rica, Ecuador, and Mexico.

James Rogers: RealReports announced a partnership with BridgeMLS, automating a RealReport being sent to members on every new listing, and providing subscriptions to their 3,500 members.

Relevate: CEO Mark Richburg participated in a panel at RESO discussing the various forms of innovation available to PropTech vendors and real estate organizations. 

Matthew Kuchar: Showami is presenting at NAR NXT with a booth front and center.

Al McElmon: CoreLogic's Trestle entered the RESO 2.0 scene with its latest release, certifying on both Data Dictionary 2.0 and UPI 2.0, for multiple MLSs across various providers.

Alex Gustafson: Oppy closed their seed round in early October and launched FUB integration, with more CRM integrations coming.

 

About the PropTech Innovator Network

Each month, Modern.tech highlights an industry executive who will delve into the intricacies of the organized real estate sector in an exclusive gathering of PropTech Executives. This presents an opportunity for PropTech Innovator Network members to expand their network with high-caliber individuals and acquire insights that are truly unique and unavailable elsewhere. Please request an invitation to join us each month.