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Every day I receive calls from members
asking me about "Broker Reciprocity" and how they will be able to
frame or download their Local MLS listings so that they will appear on the firm
or Agent Websites. Following
extensive discussion at the national level, the National Association of REALTORS
agreed that it was now time to recognize that we live in the age of the Internet
and that over 60% of buyers are searching for property on the Internet before
they contact a REALTOR. The good
news is that a higher percentage of those searching for property on the Internet
actually use the services of a REALTOR(r) than those buyers who do not use the
Internet!! Recent surveys have shown that between 90%
and 99% of all real estate leads generated from the Internet come from local
Firm or Agent Websites, not the national aggregators such as REALTOR.com and
HomeAdvisor. The big question is, DO YOU HAVE A VIABLE WEBSITE? Broker Reciprocity (IDX) is simply a policy
that requires the Local MLS (Board/Association owned) to provide the means for a
Broker or Agent who is a member of the MLS to be able to download or frame on
his/her Website the entire MLS that has been specially formatted to exclude
confidential information. In some cases the MLS has found that it is beneficial
to include more data fields in the IDX database than they might give to
REALTOR.com. One example is
including "property address". In simple terms it comes down to providing
buyers with the most complete information possible so that you keep them on your
Website, rather than send them off to a National Aggregator or competitor's
Website. An explanation of the IDX (Internet Data
Exchange) Policy is included below. BROKER
RECIPROCITY (IDX) FOUR
REQUIREMENTS of Local Associations/MLSs: 1. IDX must be offered to members by January 1, 2002. 2. Provide MLS database download file IF any broker requests it 3. Participation as IDX broker is presumed...no need to "opt-in". But brokers must be given opportunity to opt-out. 4.
Brokers who opt-out may NOT demand the download for their firm. Virtually everything else in the IDX
background document are OPTIONS (subject to various state rules and individual
MLS or broker decisions). These
include whether to display listing broker name or simply a code (such as
"BR for broker reciprocity); whether the display rule also applies to
thumbnails; whether salesmen may download to their own sites; whether to
download to the company's site or place a company frame on the data at the MLS
vendor (or other) website; whether to integrate data from different MLSs so that
multi-office firms can easily access the firm's entire database of listings;
etc. Where all of this may lead is an exciting unknown...subject to the
competitive marketplace and innovation of our members.
But what is clear is that IDX is an empowering tool for members of any
size...and it's important that all Associations/MLSs have rules and procedures
in place and educate members as to the intent of "Broker Reciprocity". South Carolina Real Estate License Law
requires language in the listing contract whereby the seller/s agree that the
property listed may be advertised on the Internet.
Actual language is available from S.C.A.R. (Nick Kremydas) by calling
1-800-233-6381. Broker Reciprocity (IDX) requires extensive collaboration with your MLS Vendor and development of both the database for framing as well as download capabilities. |
