Inman events are the best way to learn, connect and grow. Don’t miss the next one, Aug. 8-10 at Inman Connect Las Vegas. Join us at the Aria Resort to gain insight into the future, discover new strategies, and network with real estate’s best and brightest. Register here.
A trio of multiple listing services has unified to create a consumer-facing online home search experience called Nestfully.
California Regional Multiple Listing Service, Bright MLS and REcolorado will put its 240,000 combined agent membership at the forefront of what they are calling, “a leading consumer portal,” according to a Jan. 24 announcement sent to Inman.
“A consumer-first orientation was at the top of our list when we designed Nestfully,” said CRMLS CEOArt Carter in the announcement. “Nestfully is world-class and feature rich. We cannot wait to show it to consumers and brokerages alike.”
The solution was built in conjunction with Constellation1, an end-to-end real estate business software company, known also for its broad access to and provision of industry data. Senior executives from CRMLS and Bright MLS led the design and development of Nestfully and both organizations will continue in execution and management for the foreseeable future, a statement read.
The website will launch in the first quarter, according to the announcement and intends to give homeshoppers an industry-direct destination to available properties and market information. In addition to filters based on personal preference, the site will include result pages with features for scheduling tours, as well as the opportunity to directly ask questions of the listing agent.
Nestfully will also make prominent best practices for listing advertising, including adherence to Fair Display guidelines and unbiased presentation of listing data. It will also allow brokerages to integrate with existing marketing campaigns and long-term strategies. Leads will be delivered to the brokerage that owns the listing at no cost.
“In addition to providing the freshest, most up-to-date listing information and just-sold information, at launch the site will offer seamless desktop, mobile and native iOS and Android app experiences,” according to the announcement.
In a response to a question about earning consumer awareness for the search component of the website, the group said it “understand[s] the importance of gaining consumer mindshare and we will drive our marketing efforts accordingly. We also have the advantage of our member agents recommending Nestfully to their clients.”
Andrew Binkley, president of Constellation1, said in the statement that the group is looking forward to providing consumers with a smoother search process.
“Together, we are going to drive forward the consumer experience for the benefit of consumers, brokerages and agents,“ he said.
In terms of leads received from listings, agents will get them sent directly to them, while brokers can also link their CRM of choice to Nestfully’s lead response forms.
The struggle for MLSs to collectively evade the stigma of hoarding property data has been difficult, so much so that it has become a common theme among software vendors trying to gain an audience with memberships, as well as a biannual topic of conversation at Inman Connect.
It was only in November of last year — two months ago — that the National Association of Realtors at its annual conference approved 10 proposals from a group of Realtors appointed by NAR’s 2021 president Charlie Oppler to study MLS data sharing statewide. The MLS Statewide Data Share Presidential Advisory Group worked for two years to come up with recommendations to advance data sharing among all Realtor association-owned MLSs within a state, Inman reported.
Also late last year in a precedent-setting move, Bright MLS became the first MLS to hire a chief data officer. His name is Thomas Morgan who held the same position at Anywhere.
In a December op-ed for Inman, Redfin’s Joe Rath made the case that outdated policies continue to hamper how properties not on an MLS get advertised, arguing, “we can’t offer this search experience due to MLS rules banning “commingling” of listings from the MLS with listings from non-MLS sources, such as for-sale-by-owner listings. Where MLSs ban commingling, brokerage websites either can’t display non-MLS listings or must hide this inventory behind filters and log-in walls.“
Nestfully’s consumer-forward approach could go a long way toward the MLS space opening itself to the idea that the more listing information consumers have, the more agents can help them.
“Consumers will get the freshest information at their fingertips, optimized for mobile viewing, so they’ll be able to make educated decisions about homes they’re considering quickly and efficiently,” said Brian Donnellan, Bright MLS President and CEO, in the announcement.
