Organizations like multiple listing services can spend hundreds of thousands of dollars annually to buy or license public record data, and only receive updates to this data periodically. MLSs use this data to help members create listings, and they share the data with members who use it to research their market, speed up listing input and help with prospecting and business development.
In addition to public record data, ZGDC will offer MLSs the opportunity to receive, and share with members, dynamic, frequently-updated data from Zillow, such as the Zestimate® and user-contributed data, like updates about renovations. As most public record data currently available to MLSs is static - never learning new details about the property or adding more details from other sources - this new source of data will give MLSs the freedom to innovate and build products and services for their members.
"One of Zillow Group's top priorities is to be an excellent partner to the real estate industry, as we innovate on behalf of home buyers and sellers," said Errol Samuelson, Zillow Group chief industry development officer. "I'm thrilled to be able to offer this incredibly valuable, important program to our MLS partners. Providing this kind of information, for free and with very few usage restrictions, will continue to drive technology and innovation forward within the real estate industry."
Zillow Group's new program will allow partner MLSs to access information about properties, including mortgage information, tax rate, physical attributes, and mailing addresses, in addition to proprietary Zillow data.