Where Real Estate Gets Its Dirt

CMLS 2026 – Quick takes

I left CMLS Thursday and made a quick turnaround to visit my family in Seattle. There’s a lot to write about, but I wanted to get some initial thoughts down before diving into the bigger issues.

I recorded an episode of Industry Relations with Rob on Tuesday, the day the conference officially began, so I’ve already gone on about how much I loved the location. The Omni Fort Lauderdale was perfect. Three lobby bars (I think), a big open area in the lobby for meetings, a couple of good restaurants within walking distance, and even a Walgreens. What else could you ask for? The hotel staff were friendly and helpful, and the food was good.

Some quick takes:

I haven’t formally met the new CEO, Jessica “Jessie” Edgerton. She was on a lot of panels and handled them well. She gave off a “Jersey girl” vibe: super smart and not afraid to mix it up with the panelists. That said, she made a major unforced error by deciding not to provide Wi-Fi for the conference. She blamed cost and a desire to keep people focused on the content. I made a joke about shutting down access to bathrooms.

Another questionable decision, from my perspective, was the announcement that CMLS has created a Broker Membership category. It fits, since Edgerton comes from that world. I just think CMLS should be the voice of the people who run and serve the MLS. But I know a lot of smart people would disagree with me.

A few people, including Edgerton herself, left the conference early to attend RISMedia’s CEO & Leadership Exchange, which typically has a broker focus. I believe the overlap was unavoidable this year, and I’m told both RISMedia and CMLS have committed to coordinating better.

Overall I thought the content was strong. I was lucky to be on a debate panel with Amy Gorce and Michael Wurzer about the state of the MLS. It was fun to take a side I normally wouldn’t and argue a bit with Amy and Mike.

I think most people were there to see the interviews with Errol Samuelson from Zillow and Robert Reffkin from Compass. I heard there was some shuffling of the agenda to make sure the two wouldn’t be in the green room at the same time. Edgerton did a good job interviewing Errol. He was unscripted, though I think we’re all familiar with Zillow’s talking points by now. One thing he emphasized a few times was a caution to MLS leaders: “Don’t always listen to the loudest voice in the room.” Hard agree.

Her “interview” with Reffkin was another story, which I’ll save for my next post.

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CRMLS rejects Compass demands and set to open industry legal defense fund

CRMLS Rejects Compass’s Demands, Stands Firm on Cooperation and Transparency

“After reviewing Compass, Inc.’s September 8, 2026, letter demanding that CRMLS not enforce rules governing submitting properties that are listed for sale for cooperation, CRMLS rejects their demands to allow for what it
views as Compass’s advocacy for anti-competitive practices and free riding. Now, CRMLS is preparing for potential litigation while still navigating more amicable ways to resolve claims.”

So this is regarding the earlier demand letter from Compass (which many MLS received) to stop fining their agents for violating local MLS policies. Here’s the CRMLS’ Open Letter, to Compass. I’m sure CRMLS would rather not go to court but it shows a high level of frustration.

“To stand against Compass’s threats of litigation that seek to compel unfair business practices, CRMLS aims to establish an MLS Cooperation Legal Defense Fund with intent to be supported by organizations and groups concerned with consumer transparency, equal listing access, and open competition, including legal-action programs, consumer advocates, attorneys, other MLSs, associations, vendors, and portals.”

We aren’t talking defending against patent trolling here, this move would be unprecedented.

Another thing I grabbed from CRMLS, CEO Art Carter’s Op-Ed article:

“Buyers should not have to choose an agent to work with  simply to gain access to certain publicly marketed homes. Sellers should understand the potential tradeoffs of limiting how readily buyers and real estate professionals can discover and access their properties. And real estate professionals should be able to compete based on the quality of their service, not exclusive control over inventory.”

Amen.

I’m writing this from my hotel room at the CMLS Conference in Ft. Lauderdale, and Robert Reffkin will be here live for an interview on the main stage just after lunch. It’s going to be interesting.

Whose MLS Is It, Anyway?

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Greg calls in from CMLS in Fort Lauderdale, while Rob stays home enjoying some “joy of missing out.” Greg recaps the Click-Through Conference for MLS marketing professionals, where his keynote turned into a vendor’s candid pitch for how MLSs could structure and monetize vendor marketing. That leads Rob to ask why local monopolies need marketing departments at all, and the conversation widens into MLS competition, Sam DeBord’s Real Estate News piece on data monetization, and the question Rob says sits under all of it: who actually owns the MLS, and what does that ownership mean?

Key Takeaways

  • The Click-Through Conference brings MLS marketing and communications teams together, with sessions on plain-English messaging and AI in marketing.
  • Vendors are often barred from contacting MLS members, then blamed when adoption is low.
  • Greg proposes bronze, silver, and gold vendor marketing packages so vendors know exactly what they’re paying for.
  • Structured vendor programs could turn MLS marketing into a real revenue line.
  • Rob questions why MLSs, as local monopolies, need marketing rather than member communications.
  • Rob and Greg debate whether MLSs truly compete, citing Metrolist’s expansion as an example.
  • Sam DeBord argues that MLSs should use financial incentives to encourage complete data and should license data to AI companies.
  • Rob asks what happens to the money if data monetization succeeds, given nonprofit association ownership.
  • MLS shares held by associations rarely pay dividends or transfer, which limits their economic value.
  • Ownership debates tend to center on board seats instead of enterprise value.
  • Greg suggests alternatives like negotiated member benefits with Zillow or Homes.com.
  • Cooperative models, such as REI, are one path, but members would then own the MLS, not associations.
  • Rob warns MLS leaders not to assume they have unlimited time to address ownership.
  • Choosing a tech platform isn’t bold strategy; tackling ownership is.

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Larson Skinner Adds Veteran Real Estate Counsel Andrew Mathews

Larson Skinner Adds Veteran Real Estate Counsel Andrew Mathews, Expanding MLS and Brokerage Practice

“Mathews will join Larson Skinner from Stoel Rives LLP, where his real estate practice focused on brokerage-related matters, regulatory and licensing compliance, risk management, real estate transactions, and disputes. He serves as outside counsel to the Commercial Brokers Association and has advised multiple listing services and brokerages on issues ranging from brokerage regulation and industry forms to competition, compensation, and emerging legal risks.”

Congrats to Larson Skinner and Andrew!

First They Came for the Recruiting Software

Compass Demands MLSs Stop “Weaponizing” Its Data For Agent Recruiting

“The MLS exists to facilitate real estate transactions — not to weaponize our operational data against us for competitor poaching.”

Last week Victor Lund sent an email to MLSs on behalf of Compass asking them to stop feeding Compass agent data to recruiting vendors. Courted, BrokerMetrics and Brokerkit got named. There’s a 30-day deadline, plus a line about “damage claims to the MLS” that Compass will generously release if the MLS plays along. 

(Disclosure: BrokerMetrics is owned by Lone Wolf, the company Dan and I sold W+R Studios to, and Giant Steps does some work for Lone Wolf. CMAs come up below. Read accordingly.)

Everybody is going to write the recruiting story. The story I care about is demand number three. Per HousingWire, Compass also wants MLSs “to clarify Compass’s right as a participant broker to opt out of non-IDX/VOW vendor data distribution.

“Read that again. That’s an off switch. Recruiting software is just the safest place to test it, because nobody is going to march on the state capitol to save Courted. But the logic has no brakes. If a listing broker can pull its data out of a competitor’s recruiting tool, why not the competitor’s CRM? Its market reports? Its CMAs? First they came for the recruiting software…

We’ve had this fight before, and the brokers who wanted to use the data won. In 2014 The Realty Alliance pushed NAR to require MLSs to provide data feeds for broker AVMs. Rebecca Jensen, then running UtahRealEstate.com, said more than 85 percent of her brokers were against it. The NAR board passed it anyway, after a motion to send it back to committee narrowly failed. Since then, MLS content available to participants for brokerage purposes has had to be available for valuation too, and the listing broker doesn’t get a veto. Craig Cheatham said it best at the time: “Valuation is a core right and benefit, and opt out has no place in this area.”

Twelve years later, Compass wants the opt-out.

It’s also a little rich. In 2018 Inman reported that Benoit Mizner Simon, a Boston-area brokerage, spent nearly a year in acquisition talks with Compass and handed over “performance metrics of its top agents.” Talks ended in February. Within weeks, Compass hired eight of its top agents with $100,000 signing bonuses. Compass’s position back then was that all agents “have the right to choose the firm that is best for them.” In 2021 Compass sued REBNY, claiming the legacy firms were using industry rules to “thwart competitors,” including rules that kept agents from bringing clients with them when they switched firms.  That’s just the tip of the iceberg, go Google, “Compass agent recruiting lawsuits” and you’ll see what I’m talking about.

Agent mobility was sacred when Compass was the one doing the recruiting.

So why push this now? Here’s my guess, and it is a guess. Compass is rolling its platform out across @properties, Corcoran and the rest of the Anywhere brands, calling it “the largest technology deployment in residential real estate history.” Every seat that platform fills is a seat some vendor used to sell. A broker-level off switch for vendor data, held by the company that now owns Coldwell Banker, Century 21 and Sotheby’s, makes everybody else’s software a little harder to plug in. I can’t prove that’s the plan. But if I sold software into Anywhere franchise offices, I’d be reading this letter very slowly.

Here’s what I’d tell MLSs. Don’t answer this alone, and don’t answer it in 30 days. Send it to counsel, send it to CMLS, and pull out the 2014 policy. If licensing agent-level production data to recruiters is a problem (and reasonable people think it might be), fix it with a rule that applies to every participant the same way. Just stop short of a side deal with the biggest one.Because the first MLS that grants Compass an off switch will get the same letter from every broker with a lawyer.

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Yours truly on the REpod with Katie Smithson

You don’t have to ask me twice to spend time with Katie talking about CMAs. Thanks for having me!

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