Technical Capabilities Can Help the Real Estate Industry Navigate Clear Cooperation
“Matrix and Trestle can be used together to support MLSs, brokers and industry players regardless of which direction the Clear Cooperation policy is decided, for example:
-Listings marked as private will be suppressed from broader syndication
-Broker’s agents enter all their listings into the MLS system (Matrix)
-The Broker’s agent chooses the appropriate status when entering a listing, including a ‘private’ status
-Matrix is able to include their ‘private listing’ into the data feed back to the appropriate broker in near real time (via Trestle)
-Listings marked private remain private to the broker, and only that broker
-Listings marked as private are only available in any searches by the broker’s own agents or the broker’s agents’ clients.”
–Devi Mateti, President, Enterprise Digital Solutions at CoreLogic
Obviously, each MLS would have to approve this solution, but I like the concept. I had a discussion with another vendor about this, and he pointed out that even beyond CCP, there are still mandatory submission requirements. However, I think brokerages like Compass are signaling that they don’t want to deal with those requirements either.
So yes, this does make it easier for brokerages to implement private networks, which I still oppose. But I believe it’s better to use the MLS system to do so. Why? Well, the data will be cleaner when it’s entered, and if the listing sells off-MLS, it can be added to the MLS system with a simple status change. I think if the listing is first entered into some random private network software, adding it to the MLS later might be an afterthought, leading to incomplete or inaccurate data.
Another point Devi’s post touches on is a glimpse into CoreLogic’s strategy if the whole MLS industry collapses.
