MLS & Associations

Realtor-affiliated MLSs must furnish listing data for broker AVMs

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The National Association of Realtors' board of directors approved an amendment today requiring multiple listing services to make it easier for brokers to use listing data to produce automated valuation models for their clients, after a push by some members to send the amendment back to the drawing board failed. Before voting on the amendment, members first tacked on a provision that requires NAR to provide support to MLSs that will help the MLSs ensure that MLS data "is used by MLS participants and their third-party technology providers only for specified, authorized users." The provision, like clarifications added to the proposed amendment earlier this week, was designed to ease concerns that the amendment could spur MLSs to lose control of their data. It requires NAR staff and counsel to develop information and resources including model third-party license agreements, checklists of key issues and concerns and educational materials. The text of the approved amendment reads...