What happens when there is no MLS?
As of August 24, listings are being populated into the system. Status updates will take some time as each brokerage will be responsible for backfilling their listing activities. Specifically, this means that if a property is shown as active, it may indeed have already been sold.
Reach out to your Trillium Professional for guidance.
On August 8, 2023, our local real estate market came to a screeching halt.
Our Multiple Listing System (MLS) vendor, Rapattoni, was the victim of a cyber-attack by ransomware, the Southern California data host for property listing information, according to HousingWire. Rapattoni manages the listing databases for about 100,000 Realtors nationwide, and they were all held hostage and are still prisoners of these cybercriminals. The FBI & other government officials say that they are working diligently to get the situation back to normal. We are hoping that they are right.
While there are some band-aid approaches that have been tried for the sharing of data of new listings, it is obvious that it is a poor substitute to the MLS that has been developed over the last 100 years or so for the retention and distribution of real estate listing data.
Local Realtors have been receiving daily updates from Rapattoni regarding the safety of our historical data and the imminent restoration of our normal access to the system. When full access comes back online, there will be a rush of new listings entered, recent closings recorded, active, eager sellers wanting to sell, and buyers receiving alerts of new listings meeting their criteria.
We are in hope that the solution will be soon; but for now, it’s a wait-and-see, hour-by-hour situation. While traditionally a quiet time in the Ann Arbor market, late August may prove to be anything but quiet as the system gets restored.