October 01, 2024

The Controversial MLS Takeover Sparking a Data Ownership Showdown | The Real Word 337

27 minutes

Byron Lazine and Nicole White discuss the recently finalized acquisition of REcolorado MLS and the questions it raises about data ownership, along with Notorious ROB's take on the Participation Agreement—plus newly ID’d opt-ins contributing $30M to the NAR settlement fund.

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Connect with Byron Lazine:

https://www.instagram.com/byronlazine

Connect with Nicole White:

https://www.instagram.com/nicolewhite.ct/

This episode's sources:

https://nowbam.com/recolorados-acquisition-raises-questions-about-data-ownership/

https://www.realestatenews.com/2024/09/30/newly-idd-opt-ins-will-add-usd30-million-to-nar-settlement-fund

https://notoriousrob.substack.com/p/whose-data-is-it-recolorado-decides

Timestamps:

00:00-01:16 Intro

01:16 TOPIC 1: REcolorado’s acquisition raises questions about data ownership

03:23 Without MLS control, what are you? What value are you bringing?

05:19 Notorious ROB article (and mention of PDF for participation agreement)

07:39 Paragraph 3: Data License (“Here’s what they’re saying…”)

11:57 Rob Hahn calls this “theft of intellectual property.”

13:48 “Here’s why this is important…”

16:14 “I think it’s a brilliant move by [Burks]... This is Bobby Axelrod-level stuff!”

17:29 Disclosures needed for sellers

20:11 TOPIC 2: Newly ID’d opt ins adding $30M to NAR settlement fund

20:53 15 non-Realtor MLSs and 13 brokerages—including The Agency—opted in.

23:15 The new total is up more than $980 million

23:45 BAM Mania—in two weeks!

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#mls #dataownership #narsettlement

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