Yesterday I was reading Robert Freedman's article in REALTOR® magazine titled, "Know Who's Using Your Data." Robert's main point was that many practitioners do not read the fine print in the agreements they sign with vendors who gain access to our MLS data.
Yes, our data. The MLS is a private database governed by rules created by the MLS and approved by the National Association of REALTORS®.
Too many practitioners do not take care of our data. Go to Zillow and you'll find thousands of listings that have expired, been sold, or otherwise removed from the market. It's easy to blame it on Zillow, but it's not their responsibility to keep the data current. It's our responsibility.
I get at least one phone call a week on a "listing" on Zillow only to find that the listing is not active. Some of this is caused by unethical agents posting all kinds of things in their hunt for clients. I've called more than one broker to let her know about the issue. Often times I find the data is being syndicated by Virtual Tour providers, Postlets, or one of the hundreds of sites who pool and use our data.
If you're one of the unethical agents doing "bandit" postings, stop doing it. If you're a listing agent, be sure to know who syndicates your data as often they have no way of knowing the status of a listing.
Personally, I only allow Point2Agent to syndicate my listings. While my virtual tour provider, IDX provider, and eflyer provider can also syndicate my listings, I don't allow them to do so. Point2Agent follows the MLS status and will not only update listings, but also their syndication partners as well.
The bottom line is each of us is responsible for keeping our data updated and current. Not only is it a requirement of the Code of Ethics, it's just good business as well.
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Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.
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