Leading Real Estate Companies of the World® has taken a stand opposing NAR's policy allowing franchisors (Realogy brands, Prudential, etc,) to post IDX listings on their national websites for all of the markets where they have affiliates and have the permission of those franchisees. LeadingRE is requesting that this policy - approved last November - be rescinded for several reasons, the main one being that those franchisors are not cooperating members of the MLS systems and are therefore not bound by the same obligations concerning those listings, nor do they have the same rights as other brokers within the MLS systems. The more that listings move out of the control of local brokerages, the more liable listing brokers become concerning the protection of that data
In addition, there are restraint of trade issues around the fact that certain national networks are being given a competitive advantage. LeadingRE, along with HomeServices of America and Realty Alliance, will be voicing these concerns to the NAR Multiple Listing Issues and Policies Committee on May 12 during the NAR mid-year convention in Washington. This move – and other policy proposals coming before NAR involving distribution of IDX listing data to social media outlets and mobile devices, underscore the growing concerns about listing syndication and the increasing erosion of control of listing data by brokers, despite the fact that they own that data. We believe it is important to take a stand to begin reversing this trend.
This matter has been covered by Inman News and the larger issues around syndication are addressed quite aptly by two recent industry white papers from The WAV Group and Clareity Consulting.
Have an opinion? Let us hear from you on this important topic!
Posted by: Pam O'Connor