MLS-Vision MLS 5.0 Saul Klein

MLS Today

“The reports of my death are greatly exaggerated”

and

MLS Tomorrow

MLS 5.0

The MLS of the Future

What will be required to build on the current solid foundation of today’s MLS?This paper attempts to answer this question and create a basis for an industry discussion.Open and frank discussion is essential to creating the tools and organizations that willposition REALTORS® to provide services to meet the expectations of future buyers andsellers. This Paper is a vision and not a roadmap. MLS in the broad, generic sense, needs tobe redefined in the age of information proliferation and online participatory environments.MLS is more than an offer of compensation and cooperation, but how much more? Thatdecision is up to you.

Saul KleinCEO InternetCrusade®CEO Point2 TechnologiesAugust 7, 2008

Page 1

MLS5.0@SaulKlein.com

Table of Contents

PageIntroduction………………………………………………………………….3-4Take Away Terms…………………………………………………………...4Executive Summary…………………………………………………………5-6Concept……………………………………………………………………...7-9Background………………………………………………………………….10Evolution of MLS – What is MLS 5.0? …………………………………….10-11Description of MLS 5.0 (MLS 5.0 is)..……………………………………...12MLS 5.0 is a Property Wiki - (Parcel based not listing based)……………...13-14Who Will MLS 5.0 Serve?...............................................................................14Understanding and Adapting to Generational Differences……….…………15-16Being at the Center of the Conversation……………………………………..16Enabling Innovation………………………………………………………….16-17Single Point of Entry and Content Distribution (Syndication

)………………18-19Referral Network……………………………………………………………..19Agent Rating System………………………………………………………....20Neighborhood Data…………………………………………………………..20-21Sold Data……………………………………………………………………..21Strong Authentication (Two Factor Authentication)………….…………….. 21SSO -Single Sign-On………………………………………………………...22Online Communities………………………………………………………….22Local, Regional, State, or National MLS……………………………………..22-23Summary……………………………………………………………………...23What is the Alternative? ……………………………………………………...24Famous Last Words…………………………………………………………...24-25Transaction of the Future………………………………………………………25Conclusion…………………………………………………………………….26-27Your Plan of Action…………………………………………………………...28Copyright© 2008. Saul D. Klein. All Rights Reserved.

Page 2

Introduction:

In 1897, Mark Twain was traveling in Europe and heard that the New York Journal hadprinted his obituary. He responded to a friend in ahandwritten note: "The report of mydeath was an exaggeration," which over the years has morphed into “The reports of mydeath are greatly exaggerated.”

A popular recurring MLS theme and discussion point over the last few years has centeredon the idea that MLS is dead, or irrelevant, or both. Nothing could be further from thetruth.This Paper is a summary of the potential that the MLS can bring to the real estateindustry and to consumers and, at the same time, it can be viewed as a subtle warning if brokers and industry leaders fail to grasp the strengths MLS currently possesses andemploy them in a fast changing world, when consumer alternatives are popping up atevery turn. It is based upon 33 years of MLS experience in many areas and at manylevels.Saul Klein has been a member of several MLSs in San Diego, California since 1975 andhas been a licensed California broker since 1977. He served as the Vice President of theSan Diego Association of REALTORS® when the MLS in San Diego County wasregionalized from 11 associations and 4 MLSs to 5 associations and one MLS, creatingone of the first large regional MLSs in the country in 1991. In 1993 he was the presidentof the San Diego Association and served as a Shareholder representative to the San Diegoregional MLS (Sandicor) that same year. He has in depth experience dealing with MLSantitrust issues, locally and at the national level, consulting privately with many industryleaders as the IDX/VOW/ILD policies evolved and were debated and as NAR preparedfor litigation with the US Department of Justice. Saul has served on the CaliforniaAssociation of REALTORS MLS Committee continuously since 2003, and has facilitatedclose to 100 Strategic Planning sessions for both associations and MLSs nationwide andhas provided consulting services to MLS vendors. He is widely recognized as aconsultant to the industry and the first real estate industry Internet evangelist, preparingCopyright© 2008. Saul D. Klein. All Rights Reserved.

Page 3