Imagine an MLS without Agents Actually Seeing the Software (Transmission #319)
The MLS has always functioned like a giant filing cabinet—you have to login, sift through everything, and manually find information using queries. Facilitating that with software, the core MLS software space has remained largely unchanged for decades. CoreLogic’s Matrix, FBS’ Flexmls, ICE’s (formerly BlackKnight) Paragon MLS, and Rapattoni’s MLS Software are really the only games in town.
Perchwell was the last software provider that posed a threat to the incumbents, strengthened by an investment by CRMLS in 2021 and a $25 million Series B in 2024 (including participation from Stellar MLS, REcolorado MLS, and CRMLS). It’s quite remarkable that these somewhat small membership organizations (in the grand scheme of things) have capital on the books to participate in these rounds. But I haven’t heard much about Perchwell lately, with massive switching costs the likely culprit.
Curious? Additional examples.
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Plus, the risk is real: We saw the firestorm when Rapattoni was hacked, with Zenlist stepping in to right the sinking ship. The industry learned a lesson: the existing MLS structure is fragile. What if the next major disruption isn’t another desktop/mobile experience, but one that eliminates the need for a traditional interface at all?
AI startups such as HouseWhisper and Productive AI have found ways to gain adoption leveraging the devices and interfaces already in use by the masses.
Let’s imagine a world where that user experience is applied to the MLS…