Recently, in a note to tech vendors working in the real estate space, I mentioned how an understanding of industry policies is required to have any success. The technology and the data are often the simplest parts. The "human factors" in getting buy-in to unlock the value in data is the hard part.
The latest kerfuffle at the National Association of Realtors Midyear Meetings between the NAR Executive Committee and the group’s multiple listing service committee, regarding the ability of real estate franchise companies to display Internet Data Exchange (IDX) data on their websites, is about as perfect an example of this as any.
In this column I’m going to briefly outline the issue and then present some thoughts about why this issue matters, from a data perspective.
Back in November, NAR passed policy that allows franchisors to display IDX data on their websites. Based on this policy, some franchisors began to deploy websites that allow for national coverage of MLS search.