The MLS is a symbol of property searches and home valuations
Recent published research by a consulting firm specializing in real estate, The WAV Group, validates the strong value consumers put on the phrase "MLS." The research, made to order for MLS Domains Association, which includes consumer surveys of public MLS website use along with a representative sampling of consumers that have bought or sold property within the last twelve month period. It supports three main deductions:
The MLS is a symbol of property searches,
home valuations and "all the good stuff," for buyers and sellers as one consumer described it. the phrase "MLS" is associated with first-rate-quality, educational, objective property information;
Most consumers have a preference for MLS sites as real estate information sources more than brokerage sites or third-party data aggregator sites.
Fifty-six percent of buyers and sellers who have more interested in viewing homes from .MLS websites in place of .com websites.
These are significant findings to MLS associations, real estate associations, along with their subscribers/members. The WAV report discerns, "The study most unmistakably points out that buyers and sellers are more trusting MLS data over other sources."
Board Chairman for MLS Domains Association and CEO of the Regional Arizona Multiple Listing Service, Bob Bemis says the study by the WAV group confirms a strong validation for association endeavors to acquire a top-level domain ".MLS" for use by nationwide Multiple Listing Services.
Buyers and sellers trust the MLS data as an accurate source for real property information. Obtaining the rights to control who will be able ti use this domain name will reinforce the trustworthiness and protect the MLSs from imitators."
The WAV Group concurs and advocates the MLS Domain Association continue efforts to acquire an exclusive domain. The conclusions in this report are:, "The study makes it obvious that consumers identify with and are trusting of an MLS brand and place more
significance in using a .MLS domain over a .com domain. The MLSs have a golden opportunity to leverage this significant asset by gaining control of it while encouraging every marketplace in the nation to leverage this approach to the full advantage of their member brokers and agents. By suggesting consumers to go direct to ‘the’ data source asthey begin their initial real estate search phase, MLSs have this opportunity within their grasp encourage consumers to become involved with their subscriber members by promotion of their expertise and having them contribute to content which clearly demonstrate their unique local knowledge.
The MLS Domain Association is an endeavor by the MLSs which provide service to over 600,000 nationwide US real estate agents and brokers to acquire the rights to .MLS domain names. new applications for top-level domain names are being looked at by international domain name authority (ICANN), starting January 12 thru April 12, 2012. ICANN is expected to award just 500 additional new domain names as a supplement to the overcrowded .com. The next date for opening new domain name apps will not happen again for several years.
This is an unprecedented chance for real estate associations to stabilize and gain control of their positive professional identiy's with real estate consumers.
You can download this report in (PDF) format at the MLS Domains website: http://www.mlsdomains.org/wp-content/uploads/2012/01/120105-WAV-Group-MLS-Domains-full-survey-report.pdf
Jan 13, 2012