More than 50 multiple listing services are in negotiations to license their active and sold listings data to CoreLogic Inc., a provider of data and analytics to the mortgage lending industry, in exchange for a share of revenue, the company said this week.
CoreLogic says its MarketLinx subsidiary is the leading provider of MLS solutions and services, and that MLSs that sign exclusive agreements to provide listings data will also receive CoreLogic MarketLinx Data Co-op solution, a data-sharing tool that allows MLSs to access listings from around the country.
CoreLogic’s offer to share revenue with MLSs that join its "Partner InfoNet" follows on the heels of the National Association of Realtors’ move last fall to create a national property database through a subsidiary, Realtors Property Resource LLC (RPR).
Like CoreLogic, RPR plans to generate revenue by providing analytics to lenders that are more current than services that rely solely on public property records.
Although RPR is not offering a revenue share with MLSs, last month NAR said it had entered into licensing agreements to obtain listings from groups representing more than 210,000 Realtors in 43 U.S. markets (see story).
Other opportunities for MLSs to generate revenue or provide additional services for members by sharing listings data with third parties include Realtor.com operator Move Inc.’s natural language search tool, called "Find," and IMAPP Inc.’s IDX (Internet Data Exchange) Hybrid, offering listings and property tax record data to non-Realtors (see story).
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