Listing Data Ownership in Real Estate

Listing Data Ownership in Real Estate

Data ownership within the real estate industry is at an all time controversial high, who owns it? In research performed by the data management tool Transmit Data, reveals uncertainty and lack of trust of third party data administrators, CRM’s and property portals.

Transmit Data has commenced compiling data from its recent survey into the security, ownership and general handling of data within the classified listings industry; the results are concerning.

“We conducted research across the online classified industry, specifically focusing on the real estate sector. We were shocked to discover the lack of client trust with 3rd party software vendors and the data being managed”, explains Customer Experience Manager of Transmit Data Christy Barnish. “The real estate sector employs data transformation and translation services to send property listings between systems and websites, largely run by 3rd party groups such as news media & publishing. It is quite astounding that real estate agencies & franchises do not trust the companies that provide the solution to upload & transfer the listings on the agent’s behalf”, Barnish adds.

Transmit Data is about to release its findings into the real estate data management industry, identifying the insecure nature of the transfer process. “Once we identified the source of the distrust, we came to the realisation that the real estate industry has lost control of the data they (franchisee’s, sales agents & the like) generate and thus believe in owning”, states Barnish. “This is a very concerning fact, real estate companies have lost all say into where their data is sent, used, stored and for what purposes. From the research we conducted, the distrust is warranted.”

CEO of Transmit Data, Joel Leslie adds “Once a real estate agent or broker uploads the listing to their listings system, CRM and or property website, in many cases, they are signing their rights away concerning ownership of that listing. This is why there is so much animosity concerning listings data within in the real estate industry. They desperately need a tap, something to turn on or off a listing feed and take back control of when or where the property listing is dispatched.”

Transmit Data’s management tool is secure and accessible only by the owner of the data. “This is why Transmit Data is so beneficial to the real estate industry, specifically the real estate agent, franchise & office. Users of the Transmit application control exactly where the data is sent, to whom and for what purpose,” Leslie includes.

Transmit Data will soon release its findings. To find out more about Transmit & its services, visit www.transmitdata.com.