I listened to Greg’s recent podcast with Kevin Greene at CoreLogic about Trestle. Even after writing about it, I had a few questions about Trestle. Instead of wonder, I decided to reach out to Kevin and see if he’d be willing to answer a few questions.
He obliged. Without further ado…
How is interest in Trestle’s offering playing out between brokerages, technology providers, and multiple listing organizations?
Great! For each one it is solving different pain points. For a Broker it is being able to have easy access to multiple MLS they are a part of in one easy to use feed. For a Technology Provider it is the same as an Broker being able to get that aggregated feed, but also being able to manage the contracts and fees associated with the MLS and having visibility into the process. For an MLS it will help them be able to manage the workflow of data requests, easily help them with billing and contract management as well as delivering a RESO compliant feed all while using their own existing contracts or our default agreement.
What’s proving to be the driving adoption factor among clients who have come onboard?
The first phase we have focused on the MLS getting their data feeds enabled and initially it is to be able to provide a RESO compliant feed. However, the Technology Providers have been very excited about having access to a unified feed or one call for an API.
Please provide further details on your pricing model. For instance, how much would it cost a brokerage covering Washington, Oregon, and California? What about a technology provider covering all of Florida and Georgia?
Hard for me to answer without knowing how many MLS’s that Broker or MLS or Technology Provider are receiving data. But let’s use the example of a Broker is in CRMLS, they wouldn’t pay anything. If they joined Sandicor, they still wouldn’t pay anything. However, when they joined MLSListings (their 3rd data feed, they would begin paying $75 a data feed going forward). For a Technology Provider they would pay $75 per data feed. So for the above scenario they would pay $75 each for CRMLS, Sandicor and MLSListings for a total of $225.
It seems compliance/data abuse in the elephant in the room. Please make the case why you feel technology is really the problem. How will a unified feed ease the compliance/approval issues many brokers and technology vendors are facing today?
Moving to an API will help should help ease the process for approval for a Broker or TP. Trestle is designed to help streamline the process as well.
If a broker/vendor needs to cover one MLS that’s not in the system — it negates the entire purpose of not having to standardize feeds. How does Trestle approach a situation where you don’t cover an MLS a client needs?
Well we hope that Broker or Technology provider will let them know they would prefer a Trestle data feed!
What’s next for the Trestle platform?
This is only the beginning! We will soon be adding CoreLogic data products like off market property data, AVM’s, flood zones, school data and more! We will also be providing a syndication platform for MLS and Brokers to use. We are only just getting started.