Broker Public Portal Roadmap to Success
The Broker Public Portal (BPP) Board of Managers is making incredible progress on rebuilding the company after the separation from CoStar/Homesnap. Within the next 30 to 60 days, the company will be delivering new governance that will amend the unitholder agreement, a new data licensing agreement with our MLS and broker partners, and a new CEO. However, the most exciting next step will be the construction of the open-source platform to integrate broker and MLS software to the new consumer experience (we use experience to describe consumer search on all computing platforms).
The first element of the roadmap is the creation of the property data lake. The BPP has received proposals from the leading property data providers for licensing. MLS records will layer on top of this property data foundation. The application layer will be delivered through a variety of software developers who have prescribed to our limited open-source structure. Earlier this year, more than 50 technology providers answered the broker portal request for proposals for the new CEO to review.
A New MLS and Broker Benefit to Buyer’s Agents
Supporting the buyer’s agent will be one of the most important strategies of MLSs next year. Alert MLS service providers are already investing in technologies to support buyer representation. The BPP is laser focused on this.
Of course, DIY search and agent collaborative search will be offered to the consumer on the BPP’s new site. Saved favorites and saved searches will be available through our limited open source to integrate with other MLS and broker client servicing and lead management tools.
A keynote to this functionality will be the ability of a homeowner to adopt their off-market home and connect their agent. Real estate has been so transactionally focused that we have underserved staying connected with clients after the close. A homebuyer becomes a homeowner at closing, and a future home seller. The foundational data lake of the BPP will foster a plethora of features that maintain the connection with the customer between transactions in ways that benefit all parties involved.
Members of the Broker Public Portal Board of Managers will be attending the following upcoming conferences. If you would like to meet with any of us or to learn more, please contact firstname.lastname@example.org to arrange a time with one of our board representatives who will be attending.