Opportunities of the MLS Systems for Developing the Real Estate Business (Based on the Example of California Regional Multiple Listing Service)

Abstract

The real estate market has always been an essential indicator of the economy, playing a significant role in measuring economic stability and growth. In recent years, new opportunities for developing and optimising this sector have emerged with the advancement of technology. MLS systems are one of the most significant technological tools impacting the real estate business. With their support, the real estate business can optimise processes, reduce costs, and increase the efficiency of marketing activities. This study focuses on MLS systems in the real estate business and the opportunities these types of systems offer for business development in the real estate sector, specifically the operations and the activity of the California Regional Multiple Listing Service (CRMLS). The aim set out in this article is to examine and analyse the state of CRMLS, as well as the opportunities it provides for the development of the real estate business, and based on this, to offer guidelines for the development of this business through MLS systems and their potential broader implementation and expansion in the Bulgarian market. Based on the analysis, specific conclusions are drawn, problems are identified, and solutions are proposed.