IRES Update on Data Sharing as of September 25, 2015

UpdateDatashareRegarding the communications between RE Colorado and IRES, we believe the time has come to address our issues in the best interests of our brokerage community and the real estate industry as a whole. IRES consistently opted to take the high road throughout this process, and there is no reason to stray from that course now. We have made numerous requests to schedule a meeting of the minds to resolve these issues that are so important to both organizations.

IRES has consistently suggested negotiating a new or revised data sharing agreement, updating the 2003 agreement, to reflect what brokers and appraisers need to do their job (e.g. 3+ years of exchanged sold data).  Following a conference call in June between all CCM parties (Colorado Cooperative MLS), the follow up call was cancelled and IRES instead received a cease and desist letter from RE Colorado.

To take this tack is particularly poignant when both MLS organizations are immersed in an industry based on negotiation: To determine the listing price, arriving at a mutually agreeable selling price, and even addressing the custom light fixture that was overlooked in Inclusions or Exclusions.  Through communication we find a way to meet in the middle.  It happens every day in real estate.

IRES remains willing to negotiate and has reached out numerous times to get interested parties around the table, including a small group of brokers representing both sides.  Those offers have gone unanswered and instead, a Notice of Termination was received by IRES from RECO.  Still, we are willing to meet and resolve this unfortunate situation.  We believe the needs of our brokers, appraisers and consumers are paramount.

Has IRES taken steps to meet the demands of RECO?  Yes:

  • The reverse link on Realist public records has been removed for RECO and PPAR listings.  Note that IRES listings continue to display that convenience so that brokers and appraisers can access enriched data.  (We suggested rather than remove it, that both RECO and PPAR offer the same service.)
  • We restate that IRES has never included RECO listings in any IDX or VOW data feed.
  • We restate that IRES has never displayed RECO listings on ColoProperty.com, although we feel that possibility should be explored.
  • We rolled back archived RECO sales data back to 3 years, and suggested we each offer the same to our brokers – and hope we still can.
  • Important Note: To meet the demands of RECO in order to negotiate an updated agreement, we will roll back RECO sold data to 6 months on Monday, 9/28/15.   We regret this action is necessary but feel it is a better alternative to potentially losing data sharing entirely.

Shackling our brokers with more barriers and less information, particularly on the cusp of TILA requirements taking effect on October 1 is ill timed.

We have an opportunity to start a new dialogue and resolve these issues.  If you would like to participate in that process, join us on Tuesday, September, 29, 2-4 PM, at the Marriott in Westminster.  More details and registration can be found here: https://www.eventbrite.com/e/broker-forum-status-of-data-sharing-tickets-8833275565

Thank you for your ongoing support as we work toward a solution on behalf of our subscribers.

Lauren Hansen, CEO

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9 Responses to IRES Update on Data Sharing as of September 25, 2015

  1. John Simons says:

    IRES made the best of this. Shame on ReCO

  2. Dan Heine says:

    As a Realtor, I am deeply disappointed with RE Colorado. Until now, the biggest debacle in my 15 yr. career is the failed handling of Realtor.com which has caused the public to go to Zillow, Trulia etc. for information while they don’t even know Realtor.com, recolorado.com and coloproperty.com exist. It is OUR information and yet, OUR sites are irrelevant in the eyes of the public from a web perspective. Why would the public bother going to our MLS driven sites when we don’t have the most information? RE Colorado is on the brink of forcing their own customers (Realtors) to go to Zillow and Trulia to get the most information because they won’t be able to get it from their own MLS provider. This is how Realtors will go out of business and Zillow and Trulia will take over. Wake up RE Colorado. As Realtors, we need to have the most information and share it with each other in order to provide the best possible service to our clients.

  3. Stacie says:

    We need 36 months to properly analyze and report trends as appraisers! We need at least a year for comparable sales. 6 months is not enough information.

  4. I suspect the resistance from RE Colorado might have to do with the perpetual and seemingly endless cycle of turning our industry over to the internet. It wasn’t 3 months ago that we were asked if we would be OK with IRES selling our data to Zillow and its little cousin Trulia. For one, I am somewhat resentful that we pay IRES for the privilege of profiting by helping develop more and more internet competition that defuses and dilutes our ability to connect with the public in need of that information. I think we can all remember travel agencies….Are we dying that same painful death as an industry?

    • IRES, LLC says:

      Doug, thank you for your thoughts but let us clarify: IRES does not and will not sell listing data to Zillow or any third party syndicator for profit. There are administrative and technical costs that must be covered but that is the extent of it. Also, IRES always puts the broker in the driver seat in deciding where their listings are displayed and marketed. They are your listings. Period. To that end, all IRES subscribers have the choice to send their listings to the Zillow Group or not. We only send them the listings that our subscribers have elected to send. For more information on how that process works, this video will explain: http://www.screencast.com/t/p4qVtGQsI8Z

  5. Doug Andersen says:

    Lauren,
    I doubt you can deny the reality that as an industry we are being used. It’s all well and good that we define our profession around education and knowledge, but we’ve turned over the delivery of information to others who choose to use that data for profit. Zillow is a prime example of how marginalized we have become. There is little reason for the public to contact a Realtor until after 90% of their decisions have been made – all too often on inaccurate or incomplete information. We’ve become glorified file clerks and minions to the internet system opportunists. I think we need to reel that back in a little.

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