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New mega MLS is crystallizing, smashing borders

(BROKERAGE NEWS) Bright MLS is the biggest MLS merger to date, and would consolidate four states of realtors into one listing service.

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So bright they need shades

The MLS is evolving. There are 850 MLSs in the country. Every one of them have different fees, jargon, and acronyms, making it hard for Realtors to work across MLS borders even if clients are moving to a neighboring area. With online listing portals like Trulia and Zillow, who offer parts of the MLS to everyone at no cost and with better search tools and property information, brokers are at a disadvantage.

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7 MLS organizations, including TREND and MRIS, have joined together to smash borders and combine listings in New Jersey, Pennsylvania, Virginia, Maryland, and Washington DC. This initiative, called MLS Evolved, puts 10 percent of North Eastern realtors under one roof. The new massive listing service is named Bright MLS, to ensure its future is just that.

Better together

“The pace of technology is growing past the capabilities of the current MLS infrastructure across America,” TREND and MRIS wrote in a paper last fall describing their merger. “This has created discord between brokerage firms and the general MLS establishment that is deeply rooted in outdated territorial cultures and practices.”

This move could strengthen real estate in that region and put brokers back in charge.

When consumers search for homes online, they are not limited by standard MLS boundaries, and realtors should be able to accommodate an out of MLS search. With fewer MLSs, larger groups of realtors get the same information, speak the same language, and play by the same rules.

However, MLSs aren’t technology companies, and real tech companies are outdoing them at every turn. But by consolidating, MLSs can beef up their tech to provide realtors with every amenity consumers have on offer. Otherwise, realtors and their search tools will become obsolete. Some would argue that they already have.

The snags

Realtors against this consolidation argue that real estate is a neighborhood business. They are each well-versed in the unique climate of their home turf. If home seekers want to look at a home in another state, that realtor may not be as helpful, and they would likely refer their client to someone else in that region.

A broader network may not be as beneficial to many local brokers, who tend to buy and sell all within the same region.

Where support comes from

That said, many leading organizations believe consolidation is one of the only ways to keep real estate agents well-fed. They note that fear of change may be driving dissenters most of all.
However, many are enthusiastic about the merger. Real estate consulting firm WAV Group is cheerleading this North Eastern merger vocally, but groups from around the country have been backing mergers like this one for the past few years.

“MLS Evolved is one of the most impressive initiatives in America,” WAV Group writes on their site. “It is a shining example of how organizations can place self-interest to the side and have an open and transparent business discussion and critical evaluation of the future of our industry.”

Setting the precedent

Bright MLS is the biggest MLS merger to date, and would consolidate four states of realtors into one listing service. Their efforts may lay the ground work for other consolidation efforts across the country. Realtors have to decide for themselves whether this is good or bad — all eyes will be on Bright MLS moving forward.

In the meantime, MLS Evolved is eager to transition realtors into their new network and are excited to provide more information in January. Check out the MLS Evolved website for more information on the merger, including the in-depth benefits of an MLS consolidation.

#BrightMLS

C. L. Brenton is a staff writer at The American Genius. She loves writing about all things, she’s even won some contests doing it! For everything C. L. check out her website

Real Estate Technology

Camera that spins, zooms on its own – perfect for remote working

(TECHNOLOGY) Video conferencing tool, Meeting Owl Pro, helps bridge the communication gap in remote teams with a camera that spins and zooms on who is speaking

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remote working tool

As someone who has spent the bulk of their career in a remote setting, I’ve definitely noticed some elements of communication that differ from an on-site job. Rather than being able to pop into your boss or coworker’s offices, you have to shoot them an email or try and catch them on their phone.

Enter the COVID-19 times…

Remote work can get even more complicated when the whole team is remote and you’re attempting to get everyone on the same page. Or, think about when you’re working remote and you have to video conference into a meeting with people who are on site. Even with video conference chatting, there can still be some kinks in trying to follow the voices and stay on top of who’s speaking.

Luckily, Owl Labs took this issue into consideration and whipped up Meeting Owl Pro and Meeting Owl First-Gen, which are the only 360° camera, mic, speaker smart devices on the market today. This is ideal for teams who have both an on-site and remote team collaborating together (or will again soon).

The Owl sits in the middle of the on-site table and moves in a complete 360° manner that picks up who is speaking and moves the camera to focus on them. That way, the people who are calling in remotely can clearly see who is speaking and follow the meeting as if they’re actually in the room.

Both versions of Meeting Owl are compatible with the big video conferencing platforms, such as: Zoom, Google, Skype, etc. They operate as plug and play devices that connect to Wi-Fi, which allows for automatic updates.

According to the tech team, the specifications of the Meeting Owl Pro 360° smart camera has an enhanced Owl Intelligence System™, 2X sharper camera with 1080p resolution and 2X louder 360° in-room speaker. With the Meeting Owl Pro, customers can expect their meeting spaces to become increasingly intelligent over time with new smart integrations and capabilities, the first of those features being a new Smart Zooming functionality that identifies, locates, and magnifies the person speaking.

This will help to bridge common communication barriers that are felt between on-site collaboration with remote teams. Additionally, it will help with team-building as everyone will have more of an opportunity to spend face-to-face time with their coworkers who work remote from them.

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Real Estate Technology

AI being used to better understand the COVID-19 pandemic

(REAL ESTATE TECHNOLOGY) The intersection of the coronavirus and AI is here and it’s trying to making the world a better place. AI can read and collect data faster than humans.

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AI and the coronavirus

As the world scrambles to figure out the best way to prevent the spread of the Coronavirus and halt the ongoing pandemic, researchers are searching for a cure. In order to do so, it is beneficial to track patterns in the virus’s behavior.

Since the virus’s initial spread in December, thousands of papers have been written about the Coronavirus, or COVID-19. It would take weeks, if not months, for a person to collate all that information into some valuable data. This is where AI comes in to help.

Earlier this week the White House announced that they were working in collaboration with tech companies and members of academia to provide the huge amount of Coronavirus research to AI researchers and their algorithms.

The AI will be able to comb through all of the research we have to-date and search for patterns that could help those in the research field to find a cure and those in the medical field to better treat their patients. According to Wired, companies and institutions such as the National Library of Medicine, Microsoft Research, and the Allen Institute for AI (AI2) are currently working to gather and prepare the nearly 30,000 papers related to the virus so they can be processed by AI.

Hopefully, the AI’s algorithms are able to see something we cannot. It could find new connections that researchers have not been able to make and speed up the process.

The CEO of AI2, Oren Etzioni, is hopeful that this project will show people the brighter side of AI. “High tech, in general, has gotten a bad rap, but something like this crisis shows how AI can potentially do a world of good.”

There is no question that AI can help us find some answers as we face this pandemic. Whether or not this can all be arranged quickly enough to actually help mitigate the current crisis is the question. Some are wondering if U.S. resources would be put to better use by helping to address the shortage of Coronavirus test kits.

Experts are imploring people to think of the big picture. The issue of open access to medical and scientific research has been a topic of conversation among researchers for years. The pandemic has only highlighted the need. Now governments across the globe are calling on scientific publishers to open access for research on the Coronavirus so we can all work together in this time of global crisis.

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Real Estate Technology

How telecom, power companies are helping customers during COVID-19 outbreak

(REAL ESTATE TECHNOLOGY) Telecom and power companies have also tried to help their customers, while the Coronavirus makes its rounds, by extending service.

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telecom helps customers

According to Fox News, Mark Cuban, owner of the Dallas Mavericks, promised to take care of the employees at the American Airline Center during the NBA shutdown. The employees would be paid as if the games were still taking place. Many of the other leagues have made the same promise. Unfortunately, not every employee works for a business with those types of provisions.

Thankfully, many organizations are responding to the COVID-19 pandemic with special accommodations to help residential and commercial customers deal with financial issues and staying home to prevent the spread of the virus.

Companies helping out customers

Comcast is offering 60 days of free basic internet service to new customers. It’s also not disconnecting or charging late fees. Current customers are also being provided with unlimited data. AT&T is offering the same types of things for its users, unlimited data and suspending terminations, as is T-Mobile.

Closer to home, the City of Austin has decided not to disconnect customers’ services for non-payment. Evictions are also halted. Austin Energy is reconnecting users who were recently disconnected for non-payment. The company is working with customers to help them get on track with their electric bills.

Customers without power do need to reach out to Austin Energy for a courtesy reconnect, because the bill cannot be restarted without speaking to the customer. The Public Utility Commission has asked all Texas power companies to work with customers during these uncertain times. TXU Energy has also waived late fees and is extending payment due dates.

Contact your utility providers

If your finances are being affected due to COVID-19, talk to your landlord and other providers now to work out a plan going forward. You’ll have less stress when you know you won’t lose your power, water or home. Companies are willing to work with families who have been impacted by the pandemic.

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