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Daily Real Estate News | August 3, 2007
MLS Survey: Data Security, Consolidation Hot Issues
Data sharing, security, and consolidation of multiple listing services are top concerns for real estate practitioners and MLS executives, according to the 2007 REALTORŪ MLS Technology Survey.
The survey was released Thursday by the NATIONAL ASSOCIATION OF REALTORSŪ Center for REALTORŪ Technology.
The fifth annual survey showed respondents have a strong interest in expanding MLS service territories, with nearly one-third of practitioners and MLS execs saying they favor a statewide MLS, up from 19 percent last year. Twenty-seven percent said that a market area or metro statistical area would be ideal, while 21 percent preferred a larger market region within their state.
MLS service regions commonly expand through consolidations, which the survey also shows are on the rise. Thirty percent of those surveyed said their MLS has already consolidated with one or more MLS, up from 15 percent last year, and another 38 percent are considering consolidation.
Consolidation among MLSs will most likely continue in overlapping markets and where it’s most appropriate, says NAR President Pat V. Combs. “This will help bring down costs and enhance service,” she says.
Demand Grows for Data Sharing
While the trend of consolidation continues, MLSs are currently working to address the needs of brokers who are operating in multiple MLS regions through increased data sharing.
The survey revealed that nearly one-third of respondents have reciprocal data sharing agreements with other MLSs. Another 23 percent have considered data sharing.
“REALTORSŪ have invested a lot of time and millions of dollars in building and advancing real estate technology,” Combs says. Improvements in technology have made it easier for real estate practitioners to expand their geographic territories, which often results in greater demand for data sharing and integration among MLSs.
The survey also revealed the growing use of technology among MLSs for sharing data. Nearly two-thirds of MLS respondents said their MLS makes use of a RETS interface, which allows brokers, third-party software vendors, REALTORŪ associations and MLSs to share real-time data, regardless of the type of software they use. This figure is up nearly 47 percent since 2005.
The most popular places for MLSs to place listings are REALTOR.com, their local public MLS site, and the local REALTORŪ association Web site; practitioners identified the same three sites as the best places to send their property listings.
The most commonly shared property information that MLSs send to third parties are photos, amenities, address, and tax information.
Security a Hot Issue
As data sharing continues to rise among MLSs, more can be done to help protect content, according to the survey.
Only a third of MLS respondents watermark their property photos and six out of 10 said they do not make use of data tagging or seeding, a process that helps MLSs identify themselves as the original source of listing information.
Three-fourths of respondents believe their MLS has taken security issues more seriously this year than in the past, but only 42 percent said their organization has a written security policy.
“For several years we’ve continued to see a wide gap between awareness of information security issues and the implementation of practices to address those concerns,” says Mark Lesswing, NAR senior vice president and chief technology officer.
NAR continues to develop software applications and certification programs to ensure the continued quality and security of the data contained within the nation’s MLS systems, he says.
Keeping Out Intruders
The survey also revealed an increase in security to protect unauthorized access to MLS systems. Twenty-seven percent of MLS respondents said they are currently using two-factor authentications, such as a key FOB or USB device, which are more secure methods for users to access MLS systems than the traditional user ID and password combination. This is up from 2 percent last year.
Most MLSs implement two-factor authentications to stop account sharing (47 percent) and increase data security (45 percent).
The level of data integration is also improving. More than half of MLS respondents can integrate tax data into MLS listings, and many now have the option of entering and attaching documents to records on the MLS system, storing contact data and integrating maps with tax and public record data.
For more information, read the entire survey on the CRT section of REALTOR.org.
— REALTORŪ Magazine Online
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