An update on data sharing agreement between IRES and REColorado

• Staff
• September 28, 2015
• Industry News
• Colorado, denver, IRES, mls, mls-news, RE Colorado
• 0 Comments

Laurie Hansen, CEO of IRES MLS in Colorado, recently put out a statement regarding how data is shared between IRES and RE Colorado. It is included below in its entirety. 

Regarding 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 can be found by clicking here.

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