CMLS CEO wants MLSs to break down silos

Edgerton stated that CMLS is supplementing the existing advocacy work of the National Association of Realtors (NAR) by focusing on issues specific to MLSs. This includes advocating for clear definitions and mentions of MLSs in state-level legislation concerning listing transparency, which is currently being considered or implemented in states like Washington, Connecticut, New York, Hawaii, Illinois, and Indiana. She expressed concern that the lack of clarity in some of this legislation could be dangerous to the MLS ecosystem.

Coming from a background in real estate law and brokerage, Edgerton highlighted the necessary synergy between MLSs and brokerages, noting that MLSs are cooperatives of brokerages. She observed that the industry tends to operate in silos, with different entities like vendors, agents, brokerages, and MLSs talking amongst themselves but lacking broader cross-pollination of ideas and stress points. Her legal background, particularly in antitrust litigation, informs her approach to creating spaces for these conversations while ensuring they remain competitive and consumer-focused.

Edgerton also addressed misconceptions about MLSs, emphasizing that they are more than just organizing listing information. She described them as the source of accurate truth in a marketplace, with rules designed to preserve this function for the benefit of participants, brokerages, and consumers. She further pointed out that MLSs play a crucial role for other service providers, such as lenders, and that diluting the MLS data infrastructure could undermine confidence in home valuations, potentially impacting first-time homebuyers' ability to secure loans.