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News and Information Article
NEW ORLEANS, Nov. 17 // -- Policies adopted by the National
Association of Realtors(R) this week require the nations 850 Realtor(R)
association-owned multiple listing services to include all property
listings carried by MLSs in feeds distributed to MLS members and national
aggregators like Realtor.com. That policy applies to all listings,
regardless of the type of listing agreement.
The existing IDX policy permits members posting MLS listings on their
own Web sites to select the listings they show on the basis of objective
criteria such as location, type of property, compensation offered for
buyers agents or the level of service provided by the listing company. It
was approved by NARs board of directors at its meeting here Monday.
"These actions standardize distribution of MLS data to external Web
sites for the first time and ensure that all listings are treated equally
by MLSs," said NAR President Pat Vredevoogd Combs of Grand Rapids, Mich.,
vice president of Coldwell Banker-AJS-Schmidt. Vredevoogd Combs said
Realtors(R) displaying MLS listings on their sites are governed by the
Realtor(R) Code of Ethics, which obligates members to present a true
picture in their advertising and representations to the public.
Multiple Listing Services or MLSs are cooperatives formed by real
estate brokers in which they offer each other the opportunity to sell their
listings. The industry has made a multimillion dollar investment to create
the infrastructure of the MLS systems. Many MLSs also display their
members listings on Internet advertising sites, such as Realtor.com, which
displays 3.9 million homes for sale and has 7 million unique visitors each
month.
The National Association of Realtors(R), "The Voice for Real Estate,"
is Americas largest trade association, representing more than 1.3 million
members involved in all aspects of the residential and commercial real
estate industries.
Information about NAR is available at http://www.realtor.org. This and
other news releases are posted in the Web sites "News Media" section in
the NAR Media Center.
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