The nitty gritty of real estate data deals

Attorney warns draft contract language can favor data recipients

Some brokers and MLSs are rushing to distribute property information for display on popular third-party real estate Web sites, and a paper released this week by a Minneapolis law firm encourages a thorough review and negotiation of terms to help ensure that the deals properly protect industry interests.

Brian Larson, a Minneapolis lawyer who works with dozens of Realtor associations and multiple listing services, said the paper was prompted by an industry trend to broaden online distribution channels for property information by working with a range of Web sites.