MLS data management is a tricky business, and it isn’t just big franchises and national listing sites that are navigating the difficult waters. Increasingly, medium- to large-sized brokerages are growing beyond their city limits and carving out unique niches, requiring them to have access to higher-quality listing data across multiple MLSs.
To do this, many are tempted to manage MLS feeds in-house. For some, in-house management can pay off, for others, it’s a decision they may regret. Here are six of the top reasons your company should rely on an expert data partner instead.
You’ve outgrown the benefits
For brokerages operating in one or two distinct markets with a handful of MLS feeds, managing data in-house, or via the integration, you may have from your website or back-office software, makes sense. If you choose to DIY, you get to manage relationships and information that align with your strategy and enjoy increased control. But what happens when you want to grow? As you add new regions, the challenges with accessing, displaying, and managing multiple MLS relationships and data use cases increase exponentially, and the benefits you once enjoyed start to slip away.
You’re taxing your resources
It’s hard to manage MLS data at scale. The more feeds you need, the harder it becomes. Most in-house teams lack the time and expertise required to fully leverage MLS data due to the sheer number of variables and potential issues. The patchwork of nearly 600 MLSs across the US, each with its own unique rules and way of doing things, means 600+ ways for your team to stumble. The management of the listing data will consume resources and deprioritize other key projects in the brokerage.
You’re providing a third-rate user experience
Home search trends are shifting. Homebuyers are searching wider areas with stricter parameters and don’t want to visit multiple sites. Data quality, completeness, and reliability are key. Without the right expertise on your side, this is easier said than done. If a feed goes down, your already-taxed team might be left troubleshooting issues they have never encountered before and have no idea how to solve, and your leads—potential homebuyers—miss out. An exceptional customer experience begins with an exceptional website backed by exceptional data.
You’re relying on an unreliable partner
If you aren’t managing your MLS data, you might be relying on your website provider to do it for you. However, like your in-house team, your provider might be trying to manage data feeds themselves, or worse, getting data from an unreliable third party that doesn’t have the required data expertise, providing a poor product, and putting you at risk for MLS compliance issues. Have you ever questioned if you have the best listing and MLS data experts supporting your company’s data needs?
You’re pulling your hair out
More cons than pros, more challenges than solutions, more frustration than benefits. You might be at the end of your rope, unsure of what to do next. But your analysis paralysis means you’re stuck, and without a path forward, it’s easier to stay where you are.
There’s a better way: work with an expert data aggregator
An expert data aggregator like Constellation1, which has more than 20 years of experience putting MLS data to work, takes the hassle of managing multiple MLS feeds off your plate.
Data aggregators manage all MLS relationships, contracts, compliance, and data feed issues, providing a constant stream of the most up-to-date and complete data available and access to new MLS feeds at the drop of a hat. Outsourcing data management means you can benefit from economies of scale, leverage industry expertise, and trust a dedicated team of more than two-dozen people to handle everything behind the scenes, so you can focus on what you do best.
Have questions about what it would mean to entrust your data management to an expert? Get in touch with Constellation1 today.