NEW YORK (PRWEB) October 01, 2019 -- Easy access to clean and accurate listings data is critical for residential real estate professionals, and brokers need to get on the same page, adopt common standards and collaborate. That was the message from a panel of industry experts as part of RISMedia’s Real Estate CEO Exchange Sept. 19 at the Marriott Marquis in Manhattan.
“Manhattan suffers from data deficiencies and a lack of ability to leverage the power of the geography of New York City and the greater suburban area,” said Richard Haggerty, CEO of the Hudson Gateway Association of Realtors, Inc. (HGAR). “It is time for this to change. The status quo is not acceptable. This is the future.”
Haggerty joined other real estate leaders for a discussion on “The State of Real Estate Data: Have We Moved the Ball Forward?”. Moderated by Marc Gould, senior vice president of the National Association of Realtors, the panel included: Sam DeBord, CEO, Real Estate Standards Organization (RESO); Rebecca Jensen, president and CEO, Midwest Real Estate Data (MRED); and Ken Baris, president, Jordan Baris Inc.
DeBord stressed the need for efficiency and the ability to get information and new tools to the market quickly. All agreed on the importance of collaborating and “gaining control of data.”
“Data science is much more than just charts and statistics,” said Baris. “It offers actionable insights for driving business forward.”
Some Manhattan brokers are resistant to change, Haggerty added, and that reluctance “is eroding their business.”
“Change is happening around them,” Haggerty said. “Agents are wasting time and money because of the dysfunctional data landscape.”
Haggerty has long been advocating for a unified regional Multiple Listing Service in the New York Metro area, citing inaccurate data as the major driver of financial and time drains for real estate professionals. Haggerty has been working for nearly two years with the Multiple Listing Service of Long Island to create a unified regional MLS. These efforts have paid off, with the new service set to launch next month.
The concept of a new MLS for Manhattan became a discussion point throughout the CEO Exchange conference.
“Right now, the consumers are really stuck,” Haggerty said. “Everything that everyone takes for granted in other parts of the country – strong consumer-facing websites, MLS’s that have accurate data – they don’t exist in Manhattan.”
The new regional MLS – its name will be announced next month – has already attracted a number of prestigious members, including Compass. CEO Robert Reffkin earlier this year said Compass was joining the new service to help agents showcase their listings to “millions of new consumers.”
“This is going to be a powerful regional MLS,” Haggerty said. “The goal is to empower our members and take advantage of the geography of New York City, the most powerful geography in the world.”
About The Hudson Gateway Association of REALTORS®
The Hudson Gateway Association of REALTORS® is a not-for-profit trade association representing more than 13,000 real estate professionals in Manhattan, the Bronx, Westchester, Putnam, Rockland and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the U.S.
Caryn McBride, Co-Communications, +1 9146660066, [email protected]
Share this article