I doubt I caused this, but I’m shocked nonetheless.REIL, our local MLS, has just announced a rule change to its long-standing prohibition against displaying “sold” listings on a web site:
Over the past year, REIL’s Board of Directors, its Data Use Policy Committee, and REIL staff have researched data policy issues. From this research and following in the groundbreaking footsteps of Northwest MLS’ sold-data policies, RE InfoLink’s Board of Directors has adopted a new data use policy that addresses these trends. The policy:
- Allows more types of information on IDX websites such as:
- Search and display of SOLD listings
- Automated valuations
- Statistical analyses (only allowed when data is obtained through a datafeed and custom analyzed – does not include reprinting statistics published on REIL.com)
What does this mean, and why should you care?
If you’re a Realtor, there’s bad news and good news. First, the bad: prospective clients will no longer need to call you to get information about properties that have recently sold. The good news: prospective clients weren’t actually calling you anyways, since they could get this information from various online sources (e.g. Zillow et. al) Now you finally get to compete with Zillow as an information source for sold properties. (Hint: If this rule had been changed, say, 3 years ago, Zillow probably wouldn’t exist today.)
If you’re a member of the public, it means the old contemptuous way our industry used to treat you — “we’re the guardians of the information, and you must come through us to get it” — is continuing to change. As an industry, we’re finally acknowledging that our value-add isn’t and shouldn’t be access to information.
Tags: MLS, Real estate, REIL, Technology
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