With over 84,000 subscribers throughout Florida and Puerto Rico, understanding the MLS landscape is increasingly essential as the industry adapts to the new way of conducting business in today’s post-settlement environment. Committed to driving progress and innovation in the real estate industry, Stellar MLS continues to stand by its motto as the organization adjusts to the current legal climate, propelled by the notion that disruption only happens to the unprepared.
A straightforward approach
MLSs must continue to protect their customers by ensuring compliance with the National Association of REALTORS®’ Settlement rules—a role Stellar MLS takes very seriously. Leading up to August 17, education was mission-critical, as Stellar MLS wanted to be both proactive and transparent in implementing changes. With a vast audience of customers to reach, getting the word out involved an all-encompassing strategy. In addition to creating Special Edition Weekly Newsletters and hosting weekly Facebook Lives, Stellar MLS also deepened its partnership with its shareholders, extending the invitation to have a Stellar MLS representative attend webinars and meetings to address the association attendees. Stellar MLS also created a comprehensive resource page, featuring in-depth video tutorials, FAQs and the latest news and information, ensuring that its customers had streamlined access to important news and information, right when they needed it.
Paving the way
Stellar MLS has made it clear that it is a REALTOR®-owned regional MLS, and therefore, it is required to implement the mandatory changes from the NAR Settlement for its agents and brokers. Stellar MLS’ responsibility in being covered by this settlement is to enforce these new rules, but also be a leader in providing the stability our agents and brokers need to do their jobs with confidence. We embody a culture built on service, laying a solid foundation to execute these changes involved with being ahead of the curve, enacting change earlier than when it was called for and allowing a transition period where we could further educate our customers as the changes took hold.
The path forward
While August 17 has come and gone, it’s critical that MLS executives understand that this isn’t the end. In fact, it’s likely that the industry will continue to evolve more and more as the future unfolds. It might be difficult to envision what the MLS will look like five years in the future. But one thing that is certain is that the MLS is far more than compensation. And that will never change. No matter what happens in the coming months and years, you can be certain that Stellar MLS will continue to ensure not only that you’re compliant, but that you’re being given the tools you need to set your business on the path to continued success.
For more information, visit https://www.stellarmls.com/.
