When it comes to building real estate websites, listings are kind of important. Just kind of. That is true whether you are an agent/broker trying to be relevant to buyers & sellers in your area or a serial entrepreneur trying to build the next national real estate portal with your own unique twist. I recently got a private question from someone on Quora asking how to get comprehensive MLS listings, so I thought I’d answer it publicly rather than privately.
Adding listings to an agent or broker website in one specific market is a known process – just sign up for IDX, hook it to your website, and away you go.
But for entrepreneurs looking to get nationwide listing inventory — well, it’s not so simple. For those of you in this situation, there are three primary options to consider:
- Direct from the source (agents and brokers) – This is the route companies like Zillow and Trulia took in order to give them maximum long term flexibility. But it’s extremely time intensive and relationship heavy. You’ve got to win over the likes of ERA, Prudential, Weichert, and about a thousand other medium and large sized brokerages and convince them syndicating their listings to you is a good idea. Or you can spend a boatload of money trying to reach 500,000 agents individually. Whichever route you take, you’ve got to be committed to the effort over the long run and put in the time to form real relationships with key stakeholders at a variety of organizations.
- Aggregate MLS feeds across the county – This route still requires that you aggregate hundreds of MLS feeds (there are roughly 900 MLS’) to get comprehensive. Plus, you’ll have to have a sponsoring real estate agent/broker in each market. Additionally, if you aggregate MLS feeds, you are bound by MLS rules that vary from MLS to MLS (making building your national site a pain in the rear).
- Use ListHub or Point2 – this will probably get you the greatest number of listings in the quickest amount of time. But it’s still not going to result in comprehensive coverage across the United States. Not all brokers/agents use one of those two syndication partners.
So, in short, there is no quick way to achieving comprehensive listing inventory around the country in a timely manner. Unfortunately for serial entrepreneurs, but fortunately for the Zillow’s of the world who have a considerable head start (they’ve been working on it since 2007), if you start now – you don’t really have a chance at having comprehensive listings within the next 2 years. Unless you want to pay a LOT of money to agents and brokers to get them.
Regardless of which route you take, you’ll have to build a XML import system that can handle multiple XML feeds and de-dupe listings that come from more than one source simultaneously. Hope this helps clarify that whole (non-existent) “nationwide listings data” thing.
If anyone else reading has alternatives, by all means, leave them in the comments.
[Update: here is info on companies to contact for property records data in bulk]
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