DEFINITION
A database owned and managed by real estate brokers as well as the broker networks and franchisors that support many of them, containing information entered, modified and controlled by individual brokerages. PURPOSE
1) To create efficiencies in labor, systems and costs related to the management of real estate data.
2) To grant greater control by brokers over the sourcing and use of thei
r data.
3) To create a system that makes feasible licensing and/or use(s) of broker data by, and for the benefit of, brokers. FUNCTION
Brokers submit data of their choosing to the database. No entity or individual other than the submitting broker has access to or rights to see, use and/or distribute a participating broker’s data, except as determined by submitting broker. Each participating broker makes the affirmative decision for every aspect of any data distribution and/or access. Public display/advertising of data is not a function of this project. Management of inter-broker cooperation and/or compensation is not a function of this project. GOVERNANCE
The project will be owned and managed through a limited liability company using a volunteer Board of Managers and paid employees/contractors. Board members will represent brokers of all firm sizes, as well as representatives of real estate franchisors and real estate networks. Board members will be elected by brokers, franchisors and networks participating in the project.
