What is the “big shift” in real estate? Recently, we asked a number of leaders in the MLS space what has changed compared with 1-2 years ago. A frequent response was “EVERYTHING!”. The economic recession and bad housing market has resulted in a lot of pain including the decline in the number of paying REALTORS®. This is further compounded for many MLSs as the number of MLS subscriptions has been declining at an even faster pace due to the economy and data sharing, which provides MLS subscribers with access to more listings without having to pay duplicate MLS fees.
The pace of change is speeding up, especially in terms of access to real estate information for consumers. Technology and the Internet are all contributing to the big shift. Associations and MLS are more competitive than ever.
Many are still trying to navigate the shifting sands with outdated governance structures, which no longer work in this environment. Associations and MLSs need to be more nimble in decision making, especially as it relates to technology based tools that are so important to working REALTORS® trying to remain relevant with consumers.
On the MLS level, this is felt in declining membership numbers and revenues, resulting in budget constraints. It is forcing MLS leadership to look for creative ways to generate additional revenue and/or cut costs. MLSs are struggling to find ways to become more relevant with their membership to retain them. At the same time, the governance and structure of MLSs sometimes precludes them from taking necessary action in a timely manner. Having a success blueprint can show MLSs how to navigate this big shift.
Do you have an action plan for surviving the big shift taking place in the industry right now? How will you be more relevant than ever with your members and consumers as you focus forward?
Kevin McQueen, President of Focus Forward, has 28 years of hands-on industry experience. He has partnered with leaders of more than 300 organizations as a trusted advisor, as CEO of Michigan’s largest MLS and as an MLS vendor of technology products and services. With this unique background, he provides substantial value to his customers by helping them create their own blueprint for success. He is able to help them navigate the big shift, resulting in MLSs being of greater service and relevance to their members and consumers.
Frequent engagements include facilitating groups of associations and MLSs to work together to do more and increase their buying power, MLS Success Blueprints, helping to manage board politics, strategic planning, member and leadership surveys, Requests For Proposals for vendor selection, and vendor selection, project management including system conversions, executive recruiting and compensation studies, organizational assessments and public speaking. Call (248) 374-1045 or contact me today for a free consultation.
Remember, together we can all do more. Go beyond survival to a thriving MLS business.
Are you ready to take a fresh new look into your future and Focus Forward together?
