The Summary of the Panel 09/A – Collaborative PropTech

The MLS International Forum in Italy hosted a thought-provoking panel titled Collaborative Technologies in Real Estate. The panel brought together key figures in the industry to discuss how technology is reshaping the landscape of collaboration within real estate markets. Featured speakers included Marilyn Wilson (CEO at WAV Group), Jeremy Crawford (CEO and President at FMLS), Fayyad Sbaihat (CEO at Supra), and Ravi Kumar Sapata (Founder and CEO at PropTechBuzz).

This session explored the transformative role of collaboration technologies and how global data sharing standards like RESO are paving the way for increased efficiency, trust, and innovation in the real estate industry.

 

Introduction: Setting the Stage for Collaboration

Marilyn Wilson opened the session by highlighting the growing importance of collaboration within the real estate sector. She emphasized that while Multiple Listing Services (MLS) have long been a collaborative force in real estate, there is now a critical need for more advanced technology to support greater global cooperation.

Wilson pointed out that with MLSs expanding beyond local and national borders, the potential for international collaboration is immense. The conversation then moved to how emerging technologies are fostering more robust networks of agents and brokers, particularly in markets such as Dubai and Atlanta, where the integration of advanced tools is driving cross-border cooperation.

 

The Definition and Importance of Collaborative Technology

Fayyad Sbaihat, CEO of Supra, defined collaborative technology as essential for the efficient functioning of MLS systems, enabling real estate agents and brokers to work together across geographic regions. Supra’s role as a trusted access provider allows agents to share access to properties, initially within local MLS systems and then expanding across states and even international borders.

Sbaihat noted that collaborative technology reduces barriers to entry, enhances trust among real estate professionals, and streamlines access to data, making the home buying and selling process more seamless.

 

International Collaboration: Expanding Opportunities

The panel also examined the growing opportunities for international collaboration in real estate. Jeremy Crawford, President at FMLS, shared several case studies of successful cross-border collaboration facilitated by MLS platforms. Crawford illustrated how MLSs in the U.S. have extended their services to Canada and Mexico, establishing referral networks and enabling data sharing among these regions.

Ravi Kumar Sapata, CEO of PropTechBuzz, stressed that current real estate technologies tend to operate in silos, limiting the ability for seamless collaboration across borders. Sapata’s vision for the future involves breaking down these silos and creating a unified global system where agents and brokers can easily share data and collaborate on transactions in real-time.

The growing presence of international buyers, particularly from markets like Vancouver, underscores the importance of global integration. The ability to collaborate on an international scale not only increases efficiency but also opens up new business opportunities for agents and brokers worldwide.

 

Challenges in Current Systems and Supra’s Role

The discussion then turned to the challenges that real estate professionals face in adopting collaborative technologies. Supra was highlighted as a pioneering platform that addresses these challenges by providing trusted access solutions. With the ability to manage secure, just-in-time property access, Supra has become a key player in enabling collaboration, especially in areas where traditional MLS systems fall short.

Crawford shared an example where nine MLSs across the U.S. agreed to allow licensees access to homes using Supra technology, which validated state licenses. This type of cooperation breaks down historical barriers, fostering a more open and interconnected real estate environment.

 

European Lockboxes and Open Platforms for Property Search

Another innovative idea discussed during the panel was the concept of European lockboxes. The speakers proposed the idea of using lockbox technology in European markets, particularly in colder climates such as Scandinavia and Northern Europe, where buyers may be looking for properties in warmer regions like Spain or Italy. This system would allow seamless access for agents and buyers across multiple countries, making property viewings easier and more efficient.

Additionally, the idea of a unified open platform for property search across Europe was introduced. Such a platform would allow real estate professionals and consumers to search for properties across borders, enhancing transparency and access to a broader range of listings. While the technological feasibility of this platform is apparent, the main challenge remains in overcoming cultural and regulatory differences across countries.

 

Technology Integration and MLS Collaboration

As collaborative technologies become more advanced, their integration into MLS systems is crucial. Jeremy Crawford was recognized as a trailblazer in MLS collaboration for his work in enabling cross-state and cross-country data sharing. He highlighted how MLSs have moved beyond their traditional boundaries, using tools like Supra’s access technology to facilitate transactions and property access across regions.

The Real Estate Standards Organization (RESO) was also discussed as a vital component in achieving global interoperability between MLSs. By adhering to RESO standards, MLSs can ensure that their systems are compatible with others, reducing integration times and making data sharing more efficient. The panel cited examples of platforms like Occusell, which uses RESO’s edit API to simplify MLS publishing and streamline collaboration.

 

Global Data Sharing and Future Potential

The future of real estate collaboration lies in the ability to share data on a global scale. The panelists expressed optimism about the potential for global data sharing standards, using technologies like Bluetooth as a model for how competing platforms can work together to enable real-time information exchange.

This vision for global collaboration also includes greater broker and agent efficiency, allowing listings to be entered once and shared across multiple MLS systems. OcuSell’s listing management system, which enables agents to push their listings across multiple MLSs simultaneously, was presented as an example of how technology can help simplify the transaction process for real estate professionals.

 

Overcoming Challenges and Fear Factors

The panel also acknowledged the challenges that come with adopting new standards and technologies. One of the biggest hurdles is overcoming the fear that often accompanies changes to traditional systems. The speakers proposed organizing hackathons and virtual conferences to engage global stakeholders, helping to raise awareness and encourage the adoption of new tools and standards.

MLSs were described as enablers of business opportunities, with the ability to reduce costs for agents and improve profitability. By embracing collaboration technologies and RESO standards, MLS platforms can continue to drive innovation while ensuring that agents and brokers have access to the tools they need to succeed.

 

Disclaimer: This article was created using AI Mindmap technology to summarize and structure the content. While every effort has been made to accurately capture the key
points and discussions, the text may not perfectly match the original content.