Providing Tangible Benefits to Individual MLSs and the Entire Real Estate Industry
When it comes to making sound risk management decisions, our customers in mortgage lending, mortgage servicing, property valuation and capital market investing want and need better data. They know the more information they have on a property or portfolio, the more accurate and reliable their decisions will be.
One of the data types vital to the decision-making process is listing data—the data multiple listing services (MLSs) possess. Partner InfoNet™ from CoreLogic® bridges the gap between our industry-spanning customer base and MLS data sources—incorporating listing data into the products we deliver to our customers, while fairly compensating MLSs for the right to use that data in risk management applications.
Though MLSs are distinctly different from other market participants, all segments are entirely interdependent. If one segment falters or prospers, the others do the same. Because of this interconnection, all share current challenges that include:
- Dealing with the ongoing issue of large distressed property inventories, depressed or sluggish markets, and uncertain home-value trends
- Recovering from the economic crisis, creating solid, sustainable revenue streams
- Implementing new business practices that both adhere to tightened regulations and promote profitability
- Increasing market understanding by gaining access to more and better information
At CoreLogic, we understand the needs of all industry segments because we work closely with customers from each. As the top provider of data and analytics to mortgage lenders, servicers and mortgage-based capital markets, and an industry leader in serving real estate agents, brokers, MLSs and valuation professionals, we take an active role in promoting each segment’s financial health and long-term well-being.
MLS Revenue Sharing
Partner InfoNet simplifies MLS revenue generation by laying out a precise revenue model and defining allowed uses for the licensed data. Through Partner InfoNet, we offer individual MLSs the opportunity to support the needs of the entire industry, while furthering their own needs to create a solid, sustainable revenue stream that safeguards their valuable
Our property database is the nation’s largest repository of property and ownership data. Updated daily, our property database covers more than 146 million properties in more than 3,100 counties covering 99.7 percent of the U.S. population. We also built and maintain the nation’s largest mortgage application, fraud, and loan performance databases. No other company manages the volume of real estate-related data we maintain.
Drawing from our databases, we provide 18 of the top 20 lenders with automated valuation models (AVMs). We also deliver AVMs, custom data solutions and risk-management tools to financial institutions of all sizes, as well as to mortgage servicers, mortgage-backed securities investors, government agencies and government-sponsored entities. So when our customers asked us to provide MLS data and incorporate it into our products—we created Partner InfoNet to carry their request to you. Though we licensed MLS data from more than 50 MLSs through its predecessor program Realist ValueMap®, we developed Partner InfoNet to ramp up the effort to meet the growing demand.
There is significant untapped potential for the use of listing data in risk management applications. That potential is driving some to use listing data without MLS permission or compensation. With CoreLogic as your trusted partner, you can profit from this developing opportunity in a way that’s fair and equitable. Not only will your MLS share in the revenue generated, you will also be assured that CoreLogic will keep watch over your data and help protect it against further unauthorized use.
In Canada, the trademarks MLS®, Multiple Listing Services® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
“NTREIS looked at several business opportunities this year, but InfoNet was the most open and transparent proposal before our leadership. CoreLogic has been a loyal and trusted partner of ours for many years, and this project will deliver numerous additional benefits back to our members.“
— John Holley, North Texas Regional Information System
“Reaching one million listings is fantastic news. As an early adopter and strong supporter of Partner InfoNet, I am glad to see MLS organizations waking up and joining in. This is a huge step in the right direction at a critical time.”
— Bob Hale, Houston Association of REALTORS®
“As new participants in Partner InfoNet, MARIS is proud to contribute to this achievement and to the success of the program in general. We applaud CoreLogic for stepping up as a true partner to the MLS community when so many others use listing data without our permission or compensation.”
— Paul Prince, Mid American Regional Information Systems