The Future of MLS Data – It’s All about PCM:
Protect your data – Make sure you understand the terms and conditions of the destination websites, and that they meet your expectations. There are also efforts today to provide copyright and protections from scrapers.
Control your data – Understand the concepts of permissions, data rights, and specifically, listing rights. This is essential knowledge for today’s industry leaders. The Canadian Real Estate Association understands this well, and in 2012, it successfully launched what is referred to as Data Distribution Facility, or DDF. This process and technology requires numerous opt-ins, ensuring informed consent of the content owners.
Monetize your data – Extracting the value of the collection and constant curation of the listing data may be closer to a reality than many believe…or want to believe. There will be new and yet-to-be discovered ways to capitalize on the information, which will ensure the position of the real estate professional in the center of the real estate conversation for many years to come.
PCM – Protect, Control, Monetize
Ignore this at your peril.
Saul Klein is senior vice president for Point2. For more information, visit www.point2.com.