Redefining the Value of the MLS

By Arianna Marino | November 21, 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 November 20, 2024, the Network welcomed special guest Emily Chenevert, CEO of Unlock MLS and the Austin Board of REALTORS®. With a track record of driving innovation, transparency, and community impact, Emily’s leadership has transformed Unlock MLS into a beacon of adaptability in a rapidly evolving real estate landscape.

Emily Chenevert Conversation Highlights:

As the real estate industry navigates post-settlement challenges and shifting broker expectations, Emily Chenevert’s vision for the future of MLSs is rooted in transparency, adaptability, and leveraging data to empower members. She believes MLSs must redefine their value proposition by focusing on exploring the power of the data MLSs sit on. In a post-settlement world, where expectations are shifting, MLSs must identify new incentives for cooperation beyond compensation. 

Chenevert highlighted that real-time market insights, driven by cooperative data sets, are critical to staying relevant. By improving how data is processed, evaluated, and delivered back to members, MLSs can empower members to become better data scientists and reframe how they communicate insights to consumers. This, she argues, is essential for MLSs to maintain their relevance and lead the industry into the future.

Chenevert also underscored the need for PropTech companies to align their offerings with the day-to-day realities of agents. Pitches should clearly demonstrate how products enhance productivity and simplify operations. “If it’s not rooted in the way agents operate down in the field, we cannot move forward,” she stated. For PropTech companies, this alignment represents a significant opportunity to establish trust and long-term partnerships with MLSs. By focusing on intuitive, user-centric solutions, vendors can position themselves as key collaborators in driving industry innovation.

Finally, Chenevert highlighted the ongoing evolution of deal structures between MLSs and vendors. As the traditional per-member, per-month model becomes less stable, MLSs are prioritizing contracts with clearer expectations, detailed timelines, and mutual benefits. She encouraged vendors to consider how their proposals create a “win-win” scenario while supporting the broader mission of empowering MLS members with better tools and data.

Member News & Updates

Donald Jackson: John Heithaus, CMO of Ocusell, was quoted in a Housingwire article about MLS compliance products and needs. 

Bill Gaul: As part of their international, BuildersUpdate.com has loaded data from Dominican Republic, Costa Rica, Ecuador, and partly from Mexico. Additionally in the US, MLSListings is the first MLS to adopt their API to showcase new construction data.

Zach Gorman: RealReports launched a partnership with bridgeMLS and added 30 new data sources to RealReports. 

Miguel Berger: Property Shield recently partnered with MetroTex Association of REALTORS®. Read the full press release here. 

Dominik Pogorzelski: MLSpin will deploy Restb.ai’s advanced AI features in 2025, bringing AI tech to another 40,000 real estate professionals.

Scott Feldman: Starting in December, SphereBuilder will be tightly integrated into CoreLogic's MLS-Touch app, allowing agents to create, place, track, and share video listing ads from their phones.

 

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.