Residential Real Estate News
New AI-Powered Global Listings Service Under Construction
Miami-based GLOBAL LISTINGS, a portfolio company of WORLD PROPERTY MARKETS, has announced the development of its next-generation AI-powered platform, described as a "GLS" (Global Listings Service).
Company founder Michael Gerrity says their emerging Global Listings Service will be very different from a traditional MLS (Multiple Listing Service). Unlike most conventional MLS platforms, which are typically accessible only by its local agent and broker members (and mainly operated in America), their GLS will be publicly accessible online to everyone, allowing its platform users and members worldwide to search for properties globally, or post tens of millions of listings per month across all property categories and locations globally, in their own native languages.
Gerrity explains the new AI-powered GLS platform will build upon the company's original GLOBAL LISTINGS v1.0 platform, which was launched in 2018. The existing platform currently onboards and hosts over 3 million property listings spanning 110 countries and growing.
Another key feature of the GLS is its independence from all real estate associations. No real estate association in the world will have ownership, control or governance of the platform, its users and members.
According to Gerrity, their new GLS will significantly benefit both property buyers and sellers on a global scale, equally.
About the positive impact on property sellers, Gerrity states, "From a seller's perspective, the combined worldwide customer acquisition costs are nearing $500 billion annually for $14 trillion in property transactions conducted by over 100+ million sellers globally each year. This is a staggering figure, and we are committed to reducing it by half within the next decade."
Property sellers on our GLS will include any agent, broker, homebuilder, developer, landlord, investor, owner, institution, bank or government worldwide," says Gerrity.
Gerrity further comments, "Our new GLS is also designed to benefit property buyers worldwide by streamlining and consolidating the world's active property inventory on a single, convenient listings platform -- ours! Ultimately, our goal is to significantly improve the property search experience for hundreds of millions of consumers worldwide each month. Currently, there are over 15 million different listing websites both locally and globally that consumers use to find the right property. That's simply a ridiculous number of sites for consumers to navigate worldwide."
Gerrity concluded, "Fortune favors the bold! And our GLS project truly exemplifies much-needed industry transformative thinking, offering a unique opportunity to revolutionize the archaic and highly fragmented $380 trillion-dollar addressable global property industry. Our ambitious GLS platform is comparable to the bold 'Thinking Big' mentality of Elon Musk, who single-handedly disrupted the global automotive industry with Tesla, redefined space exploration with SpaceX, and reshaped global communications with Starlink."
