First American Residential Group has formed a partnership with the Houston Association of Realtors and has acquired HAR’sDatabase Integrity system, software that increases listing accuracy for MLSs and their members.
The Database Integrity system is a software program that monitors the accuracy of real estate information and enforces compliance with MLS rules and regulations, First American said Thursday.
Developed by HAR, the system is currently implemented throughout the association’s user base and will now be offered to the MLS industry by First American.
MLS systems contain core listing data for real estate transactions and are crucial for real estate professionals and consumers looking to buy or sell property. The DBI system monitors the integrity of the data provided, ensuring that the information is complete, accurate and up-to-date.
This helps protect the MLS from potential liability and improves the overall interaction between real estate professionals and consumers, First American said. As a First American technology, DBI will be utilized by a greatly expanded market, benefiting Realtors and their clients nationwide, First American said.
“The reliability of property data has been a concern of the MLS industry for some time now,” said Stephen C. Roney, president and chief executive officer of First American Residential Group. “MLS data is now available to the public more than ever before, but what has not been available is the assurance that the integrity of the data is intact. With this system, we can now offer that assurance.”
Under the agreement, First American will own the DBI system, and will continue to enhance and develop it with input from HAR. The first phase of implementation will begin with the MLSs currently using First American’s Tempo platform, offered through its MarketLinx Solutions subsidiary. Later phases of implementation will include the general MLS industry.
“For too long our brokers, agents and consumers have wrestled with a data system that grew larger, but not necessarily more accurate,” said HAR board chair Toni Nelson. “Now we have a means of controlling the quality of the data that real estate professionals rely upon daily for their business.”
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