We can all agree that listing data is the lifeblood of a brokerage firm. Real estate brokers in this country increasingly rely on the ability to retrieve their own listing data back from the MLS in a useful, consistent format. While many MLSs already provide this data to broker participants, others have not made it a priority for a variety of reasons, including a lack of standards and policy leadership.
Thankfully, that’s changing.
The National Association of REALTORS® (NAR) recently approved a new policy that requires affiliated MLSs to provide brokers a feed of their own listing data without restrictions on how it is used. This is very different from a traditional IDX or VOW feed, and it codifies brokers’ rights to have reasonable access to a “broker back-office” (BBO) feed of their own data. The policy takes effect at the beginning of 2021.
As one of the nation’s leading listing distribution platforms, CoreLogic Trestle is perfect for this job. Using Trestle, brokers can easily get their back-office data in RESO-standard format from their MLS free of any CoreLogic-imposed fees. For large brokers that operate in more than one market, I’m pleased to report that Trestle will soon aggregate BBO data from multiple MLSs into a single, convenient feed.
And Trestle has other resources brokers can benefit from, including syndication management tools and CLIP™, a unique lineage-enabled property identifier for all parcels in the U.S. I’m especially excited about the recent addition of public records data in Trestle 5.0, which puts brokers on even data-access footing with the nation’s big real estate portals. And this is just the beginning. The Trestle roadmap includes plans for additional property data and analytics that will create massive new opportunities for brokers in marketing, lead generation and other areas.
If you don’t have access to Trestle yet, I encourage you to talk to your MLS about it. It costs nothing for them to join, and it will ensure perpetual, timely compliance with NAR and RESO policy changes. At CoreLogic, we are proud to champion industry initiatives that make brokers’ lives easier, and are ready to support them in Trestle and beyond.
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Amy Gorce is principal, Business Development at CoreLogic. For more information, please visit www.corelogic.com.