According to their press release, they are now commingling MLS, FSBO and Foreclosure listings on one map… and this has me scratching my head!
Are they allowed to do this? Isn’t this type of commingling of listings against MLS rules?
Notice the purple and pink icons… Those are REO (foreclosures) and FSBOs, respectively (green icons are MLS listings).
I have four ideas about how they are able to get away with this:
- They found a loophole in MLS agreements that let’s them commingle listings (but I would find this hard to believe).
- They got buy-off from all their local MLS organizations (but I would find this hard to believe)
- They have reason to believe they can win this battle in the courts… (maybe a DOJ brief in support of this or something similar?)
- They just don’t care about the rules and believe that consumer support for this feature will be so great that they’ll risk MLS fines.
None of these scenarios seem likely to me. What am I missing?
With that said, I REALLY like how they are approaching the foreclosure data. I’ve received a few press releases recently from real estate search sites that “announce” they are now publishing foreclosures on their site. However, inevitably, when I tested out the feature, the sites were just regurgitating RealtyTrac data that required consumers to pay a fee to get the actual address of the property. Redfin is providing the address.
Also interesting, someone from Redfin let me know that they are going to phase in a flat-fee buying option in order to accommodate these new listings types.
I want to send my congrats out to the Redfin team for pushing the boundaries yet again. Love ’em or hate ’em, they’re working pretty darn hard to deliver features and tools that they think will do a better job serving their customers.
There’s some debate in the comments about whether there are local MLS rules against commingling of data, with some people claiming it’s just a misunderstanding that the data can’t be commingled. However, someone (who wished to remain anonymous) send me the following email which demonstrates that for at least one MLS where Redfin is commingling data, the rules are pretty clear:
Check it out: http://www.imrmls.com/centsite/idx_policy.htm
“4.13. Listings obtained through IDX must be displayed separately from listings obtained from other sources, not including information provided by other MLSs.”
What that says to ME (having experience with MLS rules) is that MRMLS doesn’t allow FSBO properties side-by-side with MLS listings.