According to a press release released today, CoreLogic’s Infonet program now has agreements in place to serve over 140,000 participants throughout the United States. Today they announced that five multiple listing services (MLSs), representing more than 19,000 real estate professionals, have joined the Partner InfoNet revenue-sharing program. The new agreements include the program’s first in Florida and bring the total number of real estate professionals who are participating in Partner InfoNet to more than 140,000 and more than 400,000 listings.
The new MLSs are: Regional MLS, Inc. of Palm Beach; North Carolina’s Fayetteville Association of Realtors, Inc.; Central Virginia Regional MLS, LLC; Ocean County Board of Realtors, Inc. of New Jersey and Western Regional Information Systems & Technology of Ohio.
Launched this past May, Partner InfoNet is a revenue-sharing program in which MLSs license their listing data to CoreLogic for use in risk management products for mortgage lenders, servicers and the capital markets. The MLSs share in the proceeds of the sales of these risk-management products and are also able to offer innovative new valuation products, such as RealAVM, to their members. The revenue sharing program is structured with higher fees for those that choose to participate exclusively in this program without participating in NAR’s RPR(Realtor Property Resource) program or other similar program that may be launched subsequently. Exclusive partners also receive free access to RealAVM, the Corelogic MLS-enhanced automated valuation model (AVMs) and the MarketLinx MLS Data Co-op, a new data-sharing tool that makes it easy for MLSs to share listings with MLSs from around the country while securely controlling access to their data.
One side benefit participating MLSs are realizing from participation in the program includes a new method for protecting listing data. CoreLogic has put in place a data protection system to make sure that the MLS listing data is shared only with professionals, and not consumers, and that the shared data is not misused. CoreLogic also consults with its MLS partners to identify and resolve potential security holes in their MLS system and policies.
If you would like to learn more about CoreLogic’s infoNet program along with other data licensing programs including RPR, iMapp and Move’s FIND program you can click on the following link to receive a FREE white paper from WAV Group called New Ways to Leverage MLS Data that summarizes the terms and conditiions of each of these programs. In addiition if you would like help in trying to logically think through all of the options available to your MLS you can download another free white paper from us called RPR – To Join or Not to Join – that is not the only question