One of the most interesting committees at NAR is Data Strategies. It has been in existence less than five years and is helping Executive Leadership and other NAR committees keep an eye on the big picture.
From the beginning, this committee was charged with the job of stepping back and looking at our organization from a level described to us as “30,000 feet.” By taking in the biggest picture possible, we would hopefully be able to see how all aspects of NAR works together and areas that may be changing.
At this meeting, we were given a fantastic overview of Project Upstream by Cary Sylvester. The goal of Upstream is to focus on communication and not necessarily on just inventory. By leveraging one entry source for data, you start with an efficient and accurate base of MLS property data. No longer would brokers need to enter property listings into multiple sites for agent and consumer search. This is good risk management and gives brokers the ability to be the one voice for their data.
The committee split out into breakout sessions asking hypothetical questions such as “A large portal acquires a lockbox company” or “A large bank/mortgage company acquires a large portal.” Our committee’s job was to talk through these potential scenarios and direct NAR leadership and other committees to keep these types of issues on their radar. The ultimate goal is to never be caught off guard or surprised and to have a potential plan of action ready to implement.
Data Strategies Committee meets two times per year and the next meeting will be next May at the NAR Governance meetings in Washington D.C.