The National Association of Realtors Board of Directors approved a new policy in Friday’s board meeting, requiring MLSs to provide brokers with data feeds of their own listing content when requested.
This new policy takes effect on Jan. 1, 2021, but according to NAR, MLSs could implement the policy earlier if they choose.
Most MLSs already provide the feeds, NAR said, but there are some who still do not.
“A Multiple Listing Service must, upon request, promptly provide an MLS Participant (or the Participant’s designee) a data feed containing, at minimum, all active MLS listing content input into the MLS by or on behalf of the Participant and all of the Participant’s off-market listing content available in the MLS system,” the new policy says.
“The delivery charges for the Participant’s listing content shall be reasonably related to the actual costs incurred by the MLS. The data feed must be in compliance with the RESO Standards as provided for in MLS Policy Statement 7.90,” the policy continued.
“This new national policy will close a loophole for MLSs that haven’t had a protocol in place for providing that data to their participants and will unlock efficiencies for brokers, ensuring they don’t have to manually enter the data multiple times into their various systems and reports,” NAR President Vince Malta said.
This new policy will also allow brokers to innovate and develop new ways of delivering services to consumers, NAR said.