It is an exciting time for Multiple Listing Services. The announcement of REALTOR® Property Resource by NAR has spawned many debates and several new programs allowing MLSs to leverage local property information in many new ways. The programs are exciting, but are evolving quickly and thus can be a bit confusing and even overwhelming at times.
In an effort to help every MLS understand the unique values of each of the programs now available, the Council of Multiple Listing Services (CMLS), commissioned WAV Group to complete the attached evaluation. Ideally, the paper will assist each MLS and their governing boards in understanding the key facets of each program so that they can make an informed choice based on their unique local circumstances.
This paper does not recommend one program over another but is intended to:
1. Review the general services being offered
2. Share sample financial projections for different sized MLSs for each option
3. Summarize the terms and conditions of each program
4. Discuss the potential short and long-term implications of each program
5. Provide recommendations on steps to help you identify each program
Four programs have been reviewed in the document:
· NAR’s REALTOR® Property Resource (RPR™)
· Move, Inc’s FIND product
· First American CoreLogic Revenue Sharing Program
· IMAPP Product/Program Overview
It is our sincere hope that this paper from CMLS can make the process of evaluating each of these exciting programs a bit easier and more manageable so that each MLS can make a thoughtful, informed decision on behalf of their subscribers.
Click HERE to see the CMLS White Paper on the topic. Look for the “New Ways to Leverage MLS Data New” link located on the right side under the News heading.
If you would like to distribute the paper to your board of directors or brokers, feel free to. Please just include proper attribution to the Council of MLS for the works provided to be in full compliance with copyright law.