MLS Milestones: Floor plans required in New Mexico; Texas MLS expands
In a first for the industry, NMMLS mandates floor plans on all listings — and hopes other MLSs will follow its lead. Plus, Waco Realtors joins NTREIS.
Editor's note: From large, regional players to locals focused on a single market, multiple listings services are the backbone of residential real estate. Here we highlight some of the latest news about the 500-plus MLSs that are shaping the future of the industry.
Got floor plans? You'll need them to list on the New Mexico MLS
A small Southwestern MLS may turn out to be a trailblazer.
The New Mexico MLS (NMMLS) announced this week that floor plans will soon be required for all residential, rental and multifamily listings on its platform. NMMLS, based in Santa Fe, is the first MLS to mandate the inclusion of floor plans.
Why now? Because buyers increasingly want them. In its annual trends report, Zillow reported that 86% of buyers in 2024 said they were more likely to view a home if the listing included a floor plan, up from 79% in 2020, when the survey first asked buyers about floor plan preferences.
"At NMMLS, we are committed to delivering the highest quality data and media to consumers, and this initiative is a major step forward in achieving that goal," NMMLS executive director Megan E. McFarlane said in a news release.
It's not only good for consumers, McFarlane said, it's also a win for agents: "Requiring floor plans on listings ensures that every buyer in New Mexico has access to the tools they need to make better decisions. This move also ensures our brokers remain on the cutting edge, delivering a superior listing experience for their clients. NMMLS is proud to be a leader in this space and excited to set a new standard for our industry."
NMMLS President Crystal McCaslin, also an active broker, said floor plans are "an absolute game-changer" for her listings. "It adds incredible value for my clients, making it easier for buyers to visualize the property and understand if it's the right fit for them. This requirement not only elevates the professionalism of our industry but also helps us stand out in an increasingly competitive market."
In making this move, NMMLS said it hopes to set a precedent that encourages other organizations to follow its lead.
Texas' largest MLS gains a new shareholder
North Texas Real Estate Information Systems (NTREIS) has upped its owner count from 15 to 16 with the addition of the Waco Association of Realtors as its newest shareholder.
NTREIS, already the state's biggest MLS with more than 50,000 subscribers, said in a news release that the partnership represents "a significant step in expanding services and data access across the region." Based in Dallas, its coverage area includes North Texas, North Central Texas and Northwest Louisiana.
Similar to data share agreements between like-minded MLSs, incorporating a new association gives all participating agents more exposure for their listings. And for Waco's 1,000 members, joining up with NTREIS has the added benefit of providing access to more advanced tools, the organizations noted.
"We are eager to connect our members with NTREIS," said Matthew Stufflebeam, Waco Association president, citing the MLS's "wide reach, technical expertise, and consistent track record."
And NTREIS is happy to oblige. Kristi Davis, NTREIS president, said the partnership "aligns perfectly with our mission to empower real estate professionals with the best technology and resources available."
The organizations plan to integrate their two systems early this year.