Today REcolorado sent IRES a formal 30-day notice that we will withdraw from the CCM Data Share agreement and no longer share data with IRES, effective March 2, 2017.
The CCM Agreement was put in place in 2003 to allow Colorado’s three Front Range MLSs to share data. Last year, Pikes Peak withdrew from the agreement, indicating the CCM Agreement has outgrown its original intended purpose, to be a resource for the occasional listing or sale falling outside the MLS’s primary jurisdiction.
For nearly a year, REcolorado has been evaluating the CCM Agreement with input from advisory groups, including its Board of Directors and Managing Brokers. The group thoroughly evaluated the pros and cons of the data share, taking a number of key factors into consideration, including how much both the industry and technology have evolved in the last 14 years, as well as your need for more complete data. Additionally, they evaluated MLS memberships and found the vast majority of brokers operating in the northern border area of Denver are already members of both REcolorado and IRES.
The group’s conclusion was that brokers, agents, and appraisers receive very little benefit, if any, from the CCM Agreement. In fact, data sharing has held us back from developing long-term solutions that will truly move us forward due to its many limitations, which are listed below. At best, it has been a stop-gap measure and at worse, an impediment to our progress. For these reasons, the REcolorado Board of Directors voted to withdraw from the CCM agreement at their November 1, 2016 meeting.
REcolorado’s vision for the future of the industry includes developing partnerships with local MLSs and REALTOR Associations that make sense. In some markets those partnerships come in the form of agreements to provide wholesale MLS Services, in other markets they come in the form of consolidation.
We thank you for your feedback and numerous comments about why data sharing isn’t in the best interest of agents, brokers and appraisers in Denver and your continued support.
If you have questions, please feel free to contact a member of our customer care team at support@REcolorado.com or 303.850.9576, option 1.
The Limitations of Data Sharing
– Missing and/or Incomplete MLS fields – You require in-depth listing information to best serve your clients. This is information you can only get when you belong to an MLS. The complicated “data mapping” that is required by data sharing makes in extremely difficult for shared data to display. As a result, a limited number of fields may be displayed, putting you at a disadvantage.
– Incomplete Reports – The reports you provide to your clients give them the information they need to make home buying and selling decisions. Data sharing does not allow ALL of the relevant data to be used to create comprehensive reports for your clients or accurate analysis of market conditions.
– Supplements Not Included – Data sharing does not include supplements, which makes presenting offers more difficult.
– Shared Listings Not Available on IDX Sites – Because shared listings are not included in IDX feeds, the tools used on your IDX websites will not include shared listings. As a result, your websites will not contain a complete set of listings for your existing and prospective clients to view.
– Lister or Co-Lister Not Included – Data sharing does not allow for an agent to be recorded on the sale of a listing if he or she does not belong to the MLS, either as a lister or a co-lister.
– Different Rules & Regulations – Data sharing often requires you to follow different sets of rules for each MLS, which is extremely cumbersome for brokers, agents, and appraisers.