Marc Andreessen (of Netscape fame, currently with Ning) wrote what could be the definitive assessment of the Facebook phenomenon.
In a nutshell, Andreessen credits Facebook with the most important web development of the decade: creating a open, flexible social platform that can be easily enhanced by applications created – and monetized – by others. The difference between a platform and an application is the key distinction: applications are largely static; platforms are dynamic.
Dynamic always wins.
So, how about real estate? What’s its platform? The MLS, right? Uh…..sure.
I know, there’s IDX, integration with TMS platforms and other value adds here and there.
But Imagine if brokerage firms could freely develop applications and widgets for their MLS through an API? Or if MLSs allowed approved vendors to interface with an API in creative ways? How much member value would that add?
You tell me.
- Brian Boero
Local, Mobile, Social and the future of real estate
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Right on Brian! Imagine lots and lots of cool companies spending time, resources, and money innovating amazing interfaces to a comprehensive database of properties rather than scrounging up listings. Buyers win, agents win, sellers win, brokerages win…everyone wins except for the MLSs.
Actually, the MLS would benefit tremendously. Right now they hang their hat on coverage and quality – claims that are becoming less valid by the day. Pulling the platform in a hundred new directions would dramatically strengthen its value.
Exactly right Brian. We should make it clear that the executives at Facebook view Facebook as a technology company more than a social network. They view their user generated content as a bi-product of that technology.
As Brian points out, the listings on the MLS are in that sense, user-generated. By leveraging that content and focusing on their technology platform and thereby enhancing that platform and opening it, their value and relevance could turn tides in a very positive direction.
Well, at first you would have different brokers in competition making claims like "We offer the FULL MLS data." vs. "We offer accurate MLS data." You can see this already with brokers advertising their IDX solutions: "We show you ALL of the listings."
The uptake from brokers would be relatively slow, where they might assign 1 of their team of 10-15 web developers to tackle the R&D of the new API situation.
After a couple of years of gestation, you'll see brokers develop their own tools. For the most part that market would be dominated by 3rd party software providers trying to sell the brokers some widget that they already developed.
Wow, very insightful! Maybe we are ready for mls2.0?
We the people are. Is the industry ready to comply with what the people want!
Brian… our biggest frustration as a third party provider has been working (attempting to work) with closed MLS systems. There's no question that opening up the system to innovation from outside would have a tremendous benefit to the entire real estate community. Everyone would win.
You guys are really on some great topics.
As CTO of Help-U-Sell I oversaw one of the largest aggregation of MLS data in the country. We aggregated well over 800 feeds from 175 major MLSs.
Interestingly enough, most of the major MLS software systems, paragon, wolfnet, rapattoni, etc all have APIs and web services (The RETS standard http://www.rets.org/) to get the IDX data.
The biggest problem is complying with all of the rules each MLS puts on the display of the data. If you could get them to come to some agreement on a data display standard THEN we would have something
Actually, the MLS would benefit tremendously. Right now they hang their hat on coverage and quality – claims that are becoming less valid by the day. Pulling the platform in a hundred new directions would dramatically strengthen its value.
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