Video: An App Store for real estate?
A few months back, FBS, a provider of MLS software, announced it was working on something called the Spark Platform.
It sounded like a big deal. A single API for over 120 MLSs. Standardized data. Broad agreement on terms of use. A developer’s dream.
And the biggest deal of all: A real real estate app store.
If successful, the Spark Platform promises to dramatically lower the barriers to software innovation in real estate, which has been severely limited in the past by a fragmented, often provincial MLS ecosystem.
But this is by no means a slam dunk, technically or politically. I have questions, particularly around the role of brokers in this initiative.
With launch imminent, I sat down with Mike Wurzer, President of FBS, to dig into the matter.
Looking forward to seeing the products that come out of the spark platform.
Big step forward for the industry, but under the current model all the products created etc have to play by one companies rules and give a 30% cut.
An open API standard that is not commercially controlled would foster much more innovation.
That said I definitely see the value Spark is bringing to the table by getting so many MLS’s onboard and wish them all the best with the launch.
Mike, thank you for your continued leadership! We need more choices and increased innovation. Keep up the good work.
Brian, love the videos. Keep them coming. The future looks very good to me. Kevin McQueen Focus Forward
I really hope this happens. I would for love my customers to be able to search a nationwide MLS.
Sounds good, this should open numerous doors which will hopefully trigger more great ideas and innovations. I would live to see virtual tours of condo units – such as Carmelina Condo – making the entire process of purchasing a home more efficient. There will be less time wasted on both ends of the transaction, what do you think?
From the perspective of a techie, I love the idea of data standardization. It’s a less-than-glamorous job that FBS is doing, but kudos for developing a base for others to build upon.
As for the comments regarding a national MLS, I find that to be more of a programmer’s dream than a consumer concern. There are certainly plenty of people who would enjoy browsing a national MLS, but the fact is that 95%+ of consumers are only searching one real estate market at a time. The data standardization is really just a benefit to vendors who can develop a product on a nationwide standard, but deliver it to local markets efficiently.
Been following FBS for awhile and M.W. is one of the smarter folks in the MLS space. Seems to have a better understanding of what the future may hold for MLS software providers if they don’t get their act together — and this is an attempt to maintain value and some control over software / services.
In the end it’s access to timely data. Data is like oil in a car tand right now you have to go to MLS Lube to get it worked on. Who’s data is it again?
Kudos for FBS. Their strategy is ideal, and over time, I expect that it will be successful because they solve so many basic problems that curtail innovation in real estate.
However, there are many more problems to solve – like Associations who feel that their MLS is competing with them; or the broker who believes that the MLS is stepping out of bounds by getting between the broker and the tools they prescribe for their agents. Even the franchise, the state Association and NAR have strategies for agent technology tools. All of these competing special interests create a politically tangled mess of business rules.
On top of all of that, you have the MLS vendor itself who is interested in promoting premium products. For example, CoreLogic wants agents in their MLXchange markets to use MLXchange Pro.
Last, but not least, is the existing software vendor who has already built a store, or does not want to rely on an API for data, has bulk contracts in place, or is not keen on paying data licence fees and a 30% commission.
We have spent countless hours debating all of the barriers to success. FBS is bold in their approach to leave the mess behind and simply launch it. Let those who share the vision can participate – others will do something different – still others will do nothing at all.
Honestly I hope this happens as well, anything coming from FBS is going to be a big deal, I just hope they can deliver.