OpinionIndustry News

Let brokers put their data wherever they see fit

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

As the Web has quickly become the predominant tool used by consumers to research available homes, industry attention has focused on listing brokers' rights to make their listings more easily and widely accessible to consumers online -- and the intermediary role in this process played by multiple listing services and Web site technology and listings data feed vendors. Those of us who advise participants in the real estate industry know that the MLS serves an important industry function: to enable home sellers to benefit from an exclusive listing broker's commitment to expend resources on the promotion of the seller's property while allowing other MLS participants to present the seller's property to their buyer clients and customers. Both the listing and cooperating brokers know they will be paid if the property sells during the listing term to a buyer procured by the cooperating broker. Given that one of the primary roles of MLSs is to enable listing brokers to quickly and ...