MLS exec drafts ‘constitution’; Mainstreet adds Buyer Listing Service
The document “is intended to start a much larger conversation,” Hive MLS CEO Daniel Jones said. Plus, Mainstreet integrates Gitcha’s BLS “want listings.”
Editor's note: From regional and statewide players to locals focused on a single market, multiple listings services and Realtor associations are the backbone of residential real estate. Here we highlight some of the latest news about the organizations that are shaping the future of the industry.
Hive MLS invites support for its proposed 'MLS constitution'
Hive MLS has unveiled what CEO Daniel Jones is calling an "MLS constitution," a document outlining nine principles intended to provide a common framework for how multiple listing services steward real estate marketplaces amid changes involving private listings, cooperation, data licensing, artificial intelligence and consolidation.
The document, called the Declaration of MLS Stewardship Principles, does not prescribe a specific operating model, governance structure or technology approach for MLS organizations. Instead, it frames the MLS as a steward of a trusted marketplace and addresses principles including standards, trust, competition, data cooperation, public marketing, innovation and more.
The idea for an MLS constitution is not new, Jones said in a news release — leaders from FBS, realMLS and sourceRE in particular have "planted the seed," "crystalized why it matters" and "helped shape how these declarations could become a practical framework for data governance."
The document released on Sept. 22 "is intended to start a much larger conversation," Jones said. "The marketplace will continue to change. Technology will change. Business models will change. MLS organizations themselves may change. That makes it even more important to identify the responsibilities that should endure."
The document is available to review online. Hive MLS has invited industry members to add their signatures if they agree to support it.
Gitcha deal 'a perfect fit' for Mainstreet members
Mainstreet Organization of Realtors and Gitcha have partnered to make the tech company's Buyer Listing Service available to the association's members across suburban Chicagoland. The deal is intended to give listing agents greater visibility into unmet buyer demand and to provide buyer agents with an official channel through which they can communicate clients' needs and preferences.
The BLS enables buyer agents to publish search criteria — including their client's timeline and financing, among other variables — to create "want listings" that can be viewed by a broader community of licensed agents. It will be integrated into the MyMainstreet member dashboard on the association's website, according to a news release.
Gitcha CEO Dan Cooper said the partnership is intended to provide Mainstreet with "structured, transparent listings of buyer needs to increase cooperation between agents, create more matches, and establish a clearer path for listing agents to bring the right inventory to market."
Mainstreet CEO John Gormley described Gitcha as "a perfect fit" for his organization.
"With the BLS, our members can utilize their network, insights and expertise to strengthen both sides of their transaction by helping each other understand what buyers want and need in real time," Gormley said.
Editor's note: AI was used in the initial drafting of this content, which was then thoroughly reviewed, fact-checked and revised by a Real Estate News editor.