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Who owns listing data?

I just finished reading and responding to a discussion in the INMAN blog

http://www.inman.com/hstory.aspx?ID=61445

The reason I think this is an important issue is because it comes down to, who is responsible for the way your home is marketed?

In my opinion that should be your real estate professional.

Many websites are building traffic to their site by using other peoples information. The challenge with this is that information becomes dated or is entered on the third party site incorrectly or incompletely. By ensuring the chain of ownership and responsibility you can be sure your property is marketed in it's best light.

Here is my response or comment in that blog:

To answer who owns the listing information you need only follow the chain of responsibility.

The real estate broker/agent enters into a contract with a seller, which allows the real estate broker/agent to offer and market the seller’s property for sale.

The real estate broker/agent is responsible for entering the information into their local MLS, print media as well as any internet marketing that is done. If the information is incorrect or incomplete the broker and agent are held responsible.

If it were not for the listing agreement the information would not be made available. The listing information provided is usually above and beyond what is public record through county records.

The photos added, the descriptions used and the pricing strategy are all services brought to bear by the real estate firm and its agents.

Since real estate agents can not practice real estate unless they are a broker or work for a brokerage firm, ownership of the listing, the data and the responsibility lands squarely at the broker’s feet.

Posted by Frank Wilson on 01/18/2007 04:38 PM

Comments (2)

listing data, listing information, published listing information

2 Comments on Who owns listing data?

JAN

2007

well,m actually, the little 'ones' & 'zeros' are sitting on a server. who owns the server?

kind of a fun response....though the server is only a tool or vehicle carrying the information provided by the broker. If a picture or photograph runs in a magazine does the magazine automatically own the picture? If as a broker I allow my listings to be featured on a third party web site do you think the providers of that web site care about the accuracy of the content....they don't. All they are concerned about is having content that the public perceives has value, which will drive traffic to the site which will allow them to sell more side bar and banner ads.

Accuracy of listing data on third party websites will be something that various DOLs will be looking at in the future. If a broker runs incorrect or misleading advertising in a local newspaper they can be called to task by their state's department of licensing. The same should be true with virtual or web media. When the eyes of DOL or the legislature turn to this topic they will be looking to hold someone responsible and I believe that will be the licensed real estate broker.

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