Governance of WWMLS
Governance is the combination of leadership, management, and operation for the overall effectiveness in administration of the World Wide MLS public activity. Multistakeholder governance is the model implemented by the GR8C for involving the broadest number of participants in issues dealing with administration, transparency, privacy, security, operation, technology, and the policy process. The goal of the multistakeholder governance model is to engage people as stakeholders in WWMLS for developing discussions and decision making for resolving problems and implementing solutions. Two technical areas for applying multistakeholder governance are MLSN Addressing and Protocol Routing.
Multistakeholders of WWMLS
To effectively coordinate the World Wide MLS, GR8C encourages full international participation in discussions and policy decision making from the following global participants.
Individuals interested in buying real estate properties are referred to as real estate buyers. These buyers search for available properties within their social networks, advertisements in print media and online. Unfortunately, not all available property listings are accessible for discovering by potential buyers. The World Wide MLS resolves this problem by allowing buyers to search and browse property listings via Accredited OpenMLS® Registrars.
The other side of the real estate equation involves individuals in need of selling properties. These individuals are known as sellers. The common need for all sellers is to maximize the marketing exposure of their properties for rendering the highest offer from potential buyers. Since World Wide MLS is an international public service, sellers' listings are then exposed to not only local buyers, but also remote buyers searching online.
Within the real estate industry, a variety of professionals work either as a salaried employee, hourly consultant, or commissioned independent contractor. These professionals need ways to effectively market and advertise their clients' property listings to effect sales. Currently, problems that exist within the real estate range from localization, political, and technology challenged systems offered to professionals. World Wide MLS addresses these issues by implementing distributed computing, a multistakeholders framework, and innovating new technologies such as MLSN and RETP.
From independent brokerages to big box real estate companies, the real estate industry is comprised of varying sized organizations delivering services to consumers. Besides residential, other types of businesses exist within the global market such as commercial, land, timeshares and rentals. These organizations are challenged by current economic factors, unemployment rates, and the technology industry. By offering a global listing solution to all types of real estate organizations, WWMLS promotes efficiency, technological advances, and simplification for marketing listings with one, global multiple listing service.
Providing public services, governments must add value to their local communities. Whether local or international, citizens require assistance in real estate areas such as public housing, non-discriminatory communities, and the continuation in the improvement of the quality of life. The Department of Housing and Urban Development is just one example of how governments tackle ongoing issues in housing and the real estate market. Realizing the globalization of real estate, WWMLS addresses international governments by including them within the policy process and decision making to better support their day-to-day operations and ongoing challenges.