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MyStateMLS leader Dawn Pfaff on the future of MLSs
Dec 18, 2023
Dawn Pfaff, President of MyStateMLS, discusses the future of MLSs and the mistakes agents make in protecting their data. She explores the value of MLSs, buyer broker compensation lawsuits, and the possibility of MLSs disassociating from NIR. Pfaff reflects on going nationwide, creating a technology vault, and supporting agents through free education.
28:51
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Quick takeaways
- Clear cooperation is not required on My State MLS, but brokers must follow state laws and honor commitments made to clients.
- Buyer's agents play a vital role in real estate transactions, providing expertise and guidance, especially for inexperienced buyers.
Deep dives
My State MLS: Nationwide MLS with Different Rules
My State MLS is a nationwide MLS that allows listing property anywhere a broker is licensed. Unlike other MLSs, it is not affiliated with any realtor board and has different rules. While clear cooperation is not required, following state laws and honoring commitments made to clients is mandatory. The CEO of My State MLS, Dawn Fath, founded the MLS because she was frustrated with the system in New York and its high costs. She also highlighted the importance of representation for buyers, even for experienced individuals. My State MLS operates its own software, allowing brokers to maintain control and copyright of their data.
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