Hosted by T3 MLS, this one-day workshop will give leaders of MLS organizations the tools and best practices to evaluate a consolidation — whether you want to participate or avoid one — and prevent costly mistakes.
Understand why consolidation is inevitable. Learn the pros and cons of the most popular MLS business models so you can manage your options and increase your chances of succeeding.
Learn best practices. Know what works best when consolidating – and what doesn’t. Learn the process of building trust with your business partners so you can ask the right questions before taking next steps.
Identify your options. Learn about the best structure and governance solutions and how to overcome the biggest three obstacles, making good choices before moving forward.
The T3 MLS Consolidation Roadmap
Your 70-page T3 MLS Consolidation Workbook
Seven T3 MLS Consolidation Checklists
Registration includes attendance of up to 3 delegates per MLS; cost is $1,500 per MLS. To ensure personal hands-on time, attendance is limited to only 50 MLS organizations and will be on a first-come, first-served basis. Learn more about the event here.
The T3 MLS Workshop will be held on Tuesday, September 12, the day before the 2017 CMLS Conference, 8:00am - 4:00pm.
This workshop is not part of the CMLS Conference but hosted separately in association with CMLS.
By attending the workshop, you will learn in detail the 7 steps to consolidation:
How do you stack up? What information is appropriate when considering your own scorecard? Know what to measure including overlap of subscribers, firms and listings. What best practices matter most when considering your options, before making decisions and taking next steps? How do you compare in terms of products and services and other metrics that really matter to your members and subscribers?
2. MARKET ASSESSMENT
The market assessment can only be done with objective and comparable quality market data and intelligence. This results in the efficiency of your market based on the amount of duplication, population densities, market maps and relevant data that is not easily known. With this evidence, you will have what you need to make the very best directional decisions before deciding to proceed with an MLS consolidation.
3. TRANSACTION OPTIONS
With the self-evaluation and market assessment, it’s time to evaluate all options available to you and your leadership. Know what you bring to the table and how to manage next steps. If you select consolidation, do you have enough knowledge to lead or participate in a successful consolidation, or do you need to engage a professional to facilitate the process?
4. FIRST MEETING
Once your organization decides to move to action, you will plan an ideal agenda for a productive first meeting with your new potential business partners. This first impression is a vitally important step on the T3 MLS Roadmap. This typically involves sharing information from self-evaluations and market intel, as well as separate and joint visions about your collective future. This includes valuable information that you and your leadership will have never known before the meeting. There is something here for everyone, based on all the facts that have been collected.
5. BUILDING TRUST
Know what it takes to design a future that everyone can believe in. Determine the qualifications to move this forward. How many meetings will be necessary and what is the order? What is the investment and timeline required to achieve your goals? Detail the new vision and confirm what can be done better together that you cannot do on your own. Pick the best products and services and start to design your new, bigger and better MLS together. What will it look like? What will be different and who needs to be included?
6. DOCUMENTATION, SYSTEMS AND STRUCTURE
The consultant, attorney for the process, financial advisors and staff will write down the relevant details and decisions from the task force including ownership, governance, structure, how the money flows, financial pro-forma, start-up capital required, business model, staffing, products/services, fees, timeline and the transition plan post-merger.
7. THE MERGER ITSELF
Time to pull the trigger on the merger itself. The transition and many tasks that will make the merger successful need to be addressed in the right order. Use the checklists provided.
JW Marriott Austin
110 E 2nd St, Austin, TX
Both the Workshop and the CMLS Conference will be held at the JW Marriott Austin Downtown Luxury Hotel.