Here’s a great synopsis from our client perspective from last week’s midyear show. Thanks Juli for allowing me to post this.
Last week was one of the most exciting NAR meetings I’ve attended to date. Between conversations about RPPSI, IDX Indexing and the CIVIX Patent lawsuit (and the ever present RPR discussions), conference hallways were full of electricity and buzz.
In case you didn’t know, there’s a Solid Earth Summit around the corner (and word from booth #404 on the tradeshow floor indicates it’s going to be a lively one). I know several of you are planning on coming in early for a little “state of the industry” discussion Wednesday morning. I hope this informal gathering will bring more insight on how MLSs will approach the changes coming forth from the NAR and the industry.
IDX policy was a serious point of discussion all week. The policy which allows Franchisors to index IDX data on their main search sites was amended to an “opt-in” specifically for franchisor display and also gives MLS’s a 30-day window for implementation (exactly how this is going to work, I’m still not sure). I’ve never seen so much discussion of a topic before. I truly wish I could have sat in on the Board meeting Saturday to witness it first-hand. I could not believe that it overshadowed the RPPSI discussion (or so it seemed from the tweeting going on-thank goodness for #midyear). While it didn’t get as much coverage in the twitterverse as the IDX Franchise piece did, I am especially curious about your thoughts on the expansion of the IDX policy regarding social media (and even RSS delivery of IDX data). After a very close vote, the proposed changes were submitted back to workgroup for consideration to separate Social Media into its own policy for IDX data display. Just as a simple observation: For the first time ever in my experience, I was pleased to see the committee call for the question not once but TWICE. It seemed, to me anyway, that the committee was well versed on the topics (an untold number of emails, letters, blogposts preceded the session) and ready to make a decision. Discussion is SO important to a decision-making process, but there is such a thing as beating a dead horse (horrible saying, but you get the picture). Kudos, Committee.
The CIVIX Patent lawsuit update from Laurie Janik and Ann Bailey definitely opened eyes after the MLS Exec update Wednesday evening. High level summary: After negotiation with NAR legal counsel (and industry consultant Ann Bailey) CIVIX agrees (if all points are met) to grant a license to NAR which in turn would be sub-licensed to the Industry as a whole (but only if the settlement funding is fully met…and, yes, it will include non-REALTORS) for 7.5 million dollars. This breaks down to $9.06 per member. The 7.5m is to be paid over a 90-day period beginning as soon as NAR has a license agreement to distribute (which is supposed to be today). We should each be receiving a copy of the sub-licensing agreement from NAR within the next few weeks, I imagine. According to Wednesday’s update, there are several things to consider before action is taken (such as vendor indemnity clauses), but, we are all facing the same 90-day window for decision-making purposes. I recorded the session (missing the first 5 minutes of the 45-minute update) and would be happy to share it with anyone except I might be running into technical difficulties uploading it to the web. It’s a rather large file and, well, I’m not afraid to say I need a little help. Anyway, I imagine this topic may be up for discussion at our Summit, as well. A summary is attached.
And, finally, I met with Corelogic’s team to discuss Partner InfoNet. I’m waiting on a copy of the Exclusive license agreement and wanted to get a quick update of what our Solid Earth community thought of the product. More specifically, how many of your organizations have met with both RPR and Partner InfoNet and have decided to go with one option/the other/neither/both/something else.
Regarding the “something else”: How many of you have seen the Find product from Move (or R.Com)? I fell in love with it at the NAR Conference in NOLA last year. There are conversations to be had here, as well. Great product, but please remember to read the fine print. I’ll leave it at that, for now.
So, ok. A lot has happened in the past few days and I am so looking forward to sitting down with my Solid Earth family to get your take on the matters at hand.
I can’t wait to see you all in a few weeks!
Juli A. Pleitner, Vice President, MLS