T
he Toronto Regional Real Estate Board and Council of Multiple Listing Services CEOs, John DiMichele and Denee Evans, joined host Nick Bailey on the latest episode of Ask T3 to discuss the challenges facing MLSs today. The conversation centered around the pivotal point multiple listing services have reached amid debate about listings transparency and pre-marketing.

    Evans noted that conversations with industry professionals have become "fundamentally different" since she took the helm at CMLS a decade ago, with topics previously considered sacred now being explored. DiMichele expressed concern that proposed changes to listings could take the industry backward, potentially diminishing the value of the MLS or hurting it altogether.

    The Clear Cooperation debate is at the heart of this issue, with some proposed changes potentially leading to incomplete data, delayed listings, and more private deals. Evans emphasized the importance of serving consumers and not just shareholders, while DiMichele highlighted the need for transparency within the MLS to prevent market statistics from being skewed.

    Evans believes that industry policies and practices should prioritize competition and consumer access to all listings, rather than just benefiting agents or shareholders. She also sees opportunities for MLSs to become independent entities, evolving and innovating in response to changing market conditions.

    The conversation touched on the trend of MLS consolidation in the U.S., with Evans noting that more MLSs will likely become independent moving forward. She emphasized the importance of associations partnering effectively with MLSs to ensure they are doing their job well and adapting to new challenges.