Listing Syndication – Be sure to read the fine print
After CMLS, there was a groundswell of discussion about the rights brokers are giving up when they send their listings to third party websites. WAV Group went to school on the terms and conditions of several of the leading third party websites. We were specifically focused on the rights to display, distribute and maintain listing data. We learned that in some cases the the broker is transferring the irrevocable, perpetual, non-exclusive, fully paid, royalty-free license to use, retain, transmit, copy, create derivative work of, sell, or distribute the broker’s listing data to other parties or sub-licensees. Bottomline, brokers are giving [...]