This September, the National Association of Realtors’ (NAR) Policy Statement 8.6, also known as the “One Data Source” mandate, goes into effect. In accordance with this policy, multiple listing services (MLSs) must offer brokers all of their authorized listing data — through internet data exchanges, virtual office websites, broker back office feeds and other feed types — in a single data feed.
With the policy’s implementation just around the corner, here are the key takeaways that brokers and MLSs need to know.
What ‘One Data Source’ means for brokers
If streamlined data distribution doesn’t excite you, maybe saving time and money will. Brokers using data for different purposes will also enjoy efficiencies by receiving data in a single feed rather than through multiple feeds, which is especially relevant for brokers in multiple markets who are working with more MLSs or who want to grow their business.
Less time spent on ingesting listing data frees you up to focus on your business, your clients, and new ways to innovate.
How the policy impacts MLSs
The challenge of providing multiple feeds to participants for different uses has long been a pain point for MLSs and their staff. It’s inefficient, costing MLSs valuable time and resources and causing unnecessary hassle. In providing a single data feed to participants, MLSs can maintain their existing data licenses while cutting down on the complexities of data distribution.
Bridge Interactive has rolled out a single feed solution that does all this work for you. The Bridge platform combines multiple feed types into one feed and automatically adds license rules for each listing. And it’s all done quickly using Bridge’s modern software, with data delivered securely over Bridge’s best-in-class web API.
“This is long overdue in the industry,” said Mathew Kallumadil, vice president of technology and innovation for Stellar MLS.
Bridge’s single-feed solution is available to all Bridge customers at no additional cost to ensure that everyone is in compliance and to bring the benefits of modernized data distribution to MLSs and brokers.
“We’re extremely proud to be leading this effort for our MLS customers and excited to see NAR’s policy come into effect,” said Katie Smithson, director of MLS relations at Bridge Interactive.
For more than 16 years, Bridge Interactive has built modern, reliable, and secure software solutions for MLSs. Learn more about how Bridge Interactive can help you deliver more and better options to your members.
Bridge Interactive is a proud affiliate of Zillow Group.