Take A Closer Look: Why Data Sharing Doesn’t Work

After a thorough review of the pros and cons of data sharing, REcolorado made the difficult decision to withdraw from the CCM Data sharing agreement, effective March 2, 2017.

Although data sharing is the method we are accustomed to using to access listings from neighboring MLS partners, it is not an effective way to get brokers, agents, and appraisers the complete information they need to truly serve Colorado’s home buyers and sellers. In fact, it puts everyone at a disadvantage. Here are just a few reasons why:

Artificial Boundaries

Having multiple MLSs creates artificial boundaries that don’t make sense and further fragments the marketplace.

Missing or Incomplete MLS Fields

Differences between fields and status mean only a limited number of fields may display. You and your clients cannot see the full picture.

Incomplete Reports

Data sharing does not allow ALL of the relevant data to be used. Without all of the data, you cannot create comprehensive CMA reports for your clients or provide an accurate analysis of market conditions.

Added Time and Cost

Thousands of real estate professionals must belong to multiple MLSs, therefore learning two systems and using two client portals. Double the time, as well as double the money.

Listing Metrics Not Included

Want a complete picture of how your listing is performing? Listing Metrics provides statistics from the MLS, REcolorado.com and syndication channels, but cannot include data sharing.

Separate Productivity Reports

If you want to review your productivity, your office’s productivity, or the productivity of another agent, you’ll need to look in two separate systems.

Lister or Co-Lister Not Included

Data sharing does not allow an agent to be recorded on the sale of a listing if he or she does not belong to the MLS, either as lister or 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, as well as appraisers.

Lower visibility & Lost Leads

Shared listings are not available on REcolorado.com. That means you’re missing out on visibility from Colorado’s most popular local home search site.

We must take swift action that will ensure you have access to COMPLETE listing data in Denver and northern Colorado. Our 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. And in other markets, they come in the form of consolidation.

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.