The role of the Multiple Listing System (MLS) is being challenged and limiting its role in data storage poses serious risks to the future of real estate technology in the US. Many see the MLS as just a listing database, but in reality, it's the foundation that enables market intelligence, AI-powered insights, pricing comps, recruitment analytics, and more. Without it, the innovation ecosystem that drives our industry forward would crumble.

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Data Standardization & Transparency

The MLS provides structured, real-time, and historical transaction data, setting the US apart from markets where listing information is fragmented and inconsistent. While some argue we have too many MLSs, the alternative—a world where data is siloed across private entities—would create chaos. Imagine trying to run pricing comps across 15 different systems, most of which you can't even access.

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Keeping Costs in Check

In countries without an MLS, a single dominant portal often emerges, charging sky-high fees for agents and sellers to gain visibility. Sweden’s top portal, for instance, has raised listing costs by more than 500% in a decade. This model forces agents and sellers to "rent" digital real estate for their listings—placing disproportionate burdens on lower-value homes. The MLS ensures that every listing, from $350K to $3.5M, gets equal exposure and fair market access.

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A Launchpad for Innovation‍

An MLS network fosters competition and enables new technology solutions. If a single portal controlled all listing data, do we want one company dictating the future of real estate technology? The MLS allows companies like Courted to develop predictive analytics, recruitment platforms, and competitive benchmarking tools—empowering agents and brokerages with real-time insights. A thriving ecosystem of competing proptech companies ensures that US. real estate remains the most innovative, dynamic, and consumer-friendly market in the world.

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Instead of dismantling the MLS, we should focus on improving it. The US has built an MLS system that is the envy of real estate professionals and proptech companies worldwide.

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The challenge ahead isn’t whether the MLS should exist—it’s how we continue evolving it to drive innovation and efficiency for all.

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Below, Courted CEO Sean Soderstrom discusses this topic with Harcourts Real Estate NA CEO Ben Brady.

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