Though this is probably intended to be a direct shot at Zillow (who gets their feed from the IDX}, it will be the next step in the elimination of buyer-agents and encourage single agency.
CHINO HILLS, Calif., Aug. 26, 2021 /PRNewswire/ — On September 1st, 2021, California Regional MLS (CRMLS) will officially update its rules regarding Internet Data Exchange (IDX) websites to benefit agents and consumers on both sides of the residential real estate transaction.
IDX is the term the real estate industry uses for the portions of agent and broker websites devoted to searching MLS data. IDX sites using CRMLS data will soon give consumers a much clearer picture of agents’ relationship with the listings consumers find online.
The newly updated rule, number 12.16.5 in the CRMLS Rules and Regulations, will read as follows:
“12.16.5 Listing Credit. All Listing Brokers grant permission for any Advertising Broker to display any listings submitted to the service by the Listing Broker only if the listing display or advertisement is clear so that a reasonable real estate consumer understands:
a) Who is the Listing Agent & Broker,
b) Who is the Advertising Broker and
c) How to contact that Listing Agent or Broker.”
In describing the updated rule, CRMLS CEO Art Carter said, “It shouldn’t take a consumer more than a few seconds of looking at a listing to determine who the Listing Agent, Listing Broker, and Advertising Broker are.”
The CRMLS Rules Committee, composed of active real estate professional CRMLS users, devised the rule based on feedback from members of CRMLS’s participating Associations, Boards, and MLSs. The CRMLS Board of Directors, also working real estate professionals, approved the rule.
“CRMLS leadership has been discussing this subject, and this proposed solution, for years now,” said Carter. “Now that we have approval to update the rule, we’re beyond excited to help increase transparency and reduce friction for consumers, brokers, and agents.”
Link to press release
