According to a press release issued today by IMAPP:
IMAPP’s new premium information product allows Multiple Listing Services (MLS) the option to maintain control over their data and generate revenue from their listings. Beginning immediately, IMAPP clients can elect to combine their data with IMAPP’s products and market to a new audience.
Today most brokers publish their listing data to multiple sites including Zillow, Trulia and Realtor.com.
These companies and many others are trying to build businesses from the work of the MLS members. In addition, many MLSs have public-facing websites with a sub-set of the listing information available to anyone.
“The genie is out of the bottle when it comes to listing information.” said Laura Lafayette of Central Virginia Regional Multiple Listing Service. “Everyone is trying to profit from our members’ hard work.”
Turning Time Savings into Revenue
By combining openly available MLS data with their public records and mapping database, IMAPP delivers an all-in-one solution saving potential business subscribers time and money. Instead of searching multiple sites for mission-critical data, subscribers can access this information in one place while generating revenue for the association and driving business to the REALTOR® members.
When the National Association of REALTORS® unveiled the Realtors Property Resource, many MLS associations expressed concern about their data and asked why another company should profit from it.
“Our MLS clients are extremely savvy and know the value of their data.” said Bill Rovillo, CEO of IMAPP. “While the National Association of REALTORS® is developing a free solution through their RPR subsidiary, we think our clients are better served by maintaining control over their data and the associated revenue opportunities.
Once the listing data is in NAR’s system, an MLS may find it extremely difficult to monetize their data since they are now in competition with the RPR.”
IMAPP recognizes the market value of MLS data. These listings, merged with current, quality-checked tax records and mapping, create a powerful premium information product. This allows MLS associations to preserve control of their data while realizing significant revenue.