Way to go, MLS Policy Committee for staying on a continued path to overhaul the IDX rules to make them work harder for brokers! As you may recall, back at NAR National, there were great strides made to evolve IDX rules to encourage data standardization, broker marketing in multiple MLS markets and an increased focus on data accuracy. I am proud to say that WAV Group, along with the Leading Real Estate Companies of the World, brought forth just about all of the topics that were approved at this meeting, just like the NAR National meeting. These positive initiatives continued into NAR Mid-Year where continued enhancements were put into place. Here’s a summary of what was agreed to at this session. Increasing engagement on listings As we all well aware, third party sites surround their listings with TONS of interesting information to encourage consumers to spend more time on their website. IDX rules now allow brokers to do the same thing on their sites. They can augment IDX information with “applicable property information from other sources to appear on the same webpage of display.” With this new rule, brokers can now add differentiating information to their sites to help educate their prospects and clients and encourage them to contact their agent to learn more. Speedier Approval of IDX Feeds While most markets approve IDX applications in a matter of a few days, believe it or not, in some markets it can take a broker up to six months! Talk about business obstruction! For those of you that have IDX approval committees that meet once a quarter or even monthly, this rule is for you. Monthly approval timelines are simply WAY too long in today’s aggressive market. The new policy requires an MLS to act on an IDX request within five business days for members in good standing. Hopefully, this ruling will speed up brokers’ ability to launch a new IDX website to promote their business. Clarification of Publicly Accessible Data All MLSs, with the exception of non-disclosure states, are now required to offer two different types of data feeds – one with actives and one with active solds. The third discussion clarifies what is meant by “publically accessible” data. Here’s the clarification: Publicly accessible sold information as used in IDX policy means data that is available electronically or in hard copy from city, county, state and other government records. Clarification […]
I had one of the best days I’ve ever had since I’ve been a part of this industry at the NAR conference this year! I witnessed what I believe to be a historic moment in the real estate industry where MLSs, Associations, Brokers, Franchises and Technology companies ALL came together for the greater good of the industry. No drama, no conflict, just unity! Hallelujah! Kudo’s to the Leading Real Estate Companies of the World for bringing forth a set of balanced recommendations to the Emerging Issues committee on behalf of large and small brokers around the nation. I am proud to say that I facilitated discussions with the Leading Real Estate Companies of the World(LeadingRE’s) “TAC” or Technology Advisory Council that includes several of the nation’s best and brightest tech leadership from brokers of all sizes from around the U.S. Together we brought forth a reasonable and well thought out set of recommendations that are designed to help everyone and simply allow brokers and agents to be able to use technology and data more effectively to attract new customers. These enhancements to the IDX policy could never have been approved so easily without the hard work and leadership of the Emerging Issues Committee led by Robert Bailey of Bailey properties. Behind the scenes, the Committee invited LeadingRE to come and present the ideas developed by the TAC committee at their last session. They led a respectful, open and collaborative discussion trying to better understand the issues outlined and then asked LeadingRE to help them prioritize the issues to be brought forth to the MLS Policy Committee. They also invited further discussion on other concepts suggested by the LeadingRE beyond the four that were presented and approved on Saturday. During the MLS Issues and Policy Meeting at the NAR conference, representatives of the Emerging Issues committee did a masterful job of explaining each of the proposed rules changes in simple terms to make it easy for the audience to understand the value of each policy enhancement. Special thanks to Henry Brandis of HomeServices for doing a masterful job of representing the needs of brokers and franchises. Jonathan Bednarsh, CEO of Onboard Informatics also did a great job outlining how the Web API will help create efficiency, speed and innovation for real estate technology companies and their broker clients. The MLS Policy Committee brought forth four well-thought out revisions to the IDX […]
Last Thursday afternoon was a surreal moment for William Raveis Real Estate, Mortgage & Insurance. The company was announced as the “Most Innovative Brokerage or Franchise” at Inman News’ 2011 Innovator Awards, held in the beautiful Hilton San Francisco. Inman’s Annual Innovator Awards recognize exceptional national achievements in real estate technology and marketing. To give a simple analogy: winning an Innovator Award is akin to winning an Oscar at the Academy Awards. Every year, the real estate glitterati, from world renowned brokerages to Silicon Valley startups-gone-mainstream, gather in San Francisco and New York to talk about what they see in the industry’s future.