In the midst of the ongoing legal battle involving the National Association of Realtors (NAR). Much of the conversation has been focused on co-brokerage agreements and their potential to reshape commission structures.

The Risks to Your Business

One of the less discussed but significant risks involves the fate of your listings. For many professionals, the Multiple Listing Service (MLS) is a cornerstone for business operations. Serving as the primary platform for sharing property listings. What’s crucial to understand here is the ownership structure of these listings once they are uploaded to the MLS. Who owns and controls your number one asset, the MLS or you? Instead, make your website the cornerstone of your real estate presence today.

Protecting Your Data and Business

The value of your data cannot be overstated, it’s not just a record. It’s the scaffolding upon which your business is built. Therefore, safeguarding this data through meticulous backups and being astutely aware of ownership rights is paramount. Moreover, it’s essential not just for business continuity but also for search engine optimization (SEO). By first giving your listing to the Board MLS, your basically allowing them to take credit for your unique content. Why not add your listing to your site first by directing traffic back to your site through these listings? You enhance your online visibility, take credit where credit is due, which is vital for attracting leads and securing sales. The best platform to accomplish this strategy is through MYStateMLS, once you take credit for your listing on your own website then you can use your board MLS or not. Who controls your listing now? You do!

Additionally, the potential absence of Universal Co-Brokerage presents its challenges. Listing agents may find themselves in a laborious position, needing to negotiate co-broke agreements individually, increasing their workload significantly. This shift could exacerbate the complexities involved in listing and selling properties, demanding a recalibration of how agents manage their time and resources. At MyStateMLS, they have always allowed agents and brokers dictate how they do business. They’re Co-Broker field is optional and always has been an optional feature. And because they are NOT a NAR Affiliated MLS, the same rules in the settlement do not apply.

Be Prepared Broader Business Impacts

While the focus on the NAR lawsuit’s immediate legal implications is necessary. It’s equally important to anticipate and prepare for its broader business impacts. Ensuring data security, understanding the nuances of listing ownership, and adapting to potential changes in co-brokerage practices. These will be crucial steps in fortifying your real estate business against future challenges. Become a part of the best real estate membership program in NY today, isn’t it time to get more out of your MLS?