Provocation of the Day…Data Rights
The collective innovation that created the MLS, and data “syndication” can unlock new business models through systems that connect local markets with quality loan manufacturing to best capital markets execution.
If data is the new oil, Real estate brokers, who command the top of the real estate digital food chain, are valued at a fraction of the companies which utilize the data from brokers and MLSs to fuel their businesses.
Vendors, lenders and platforms extract much of the value brokers create.
The perishable opportunity for brokers is to leverage their market position to capture the downstream value of – data.
Data rights is the core asset that controls the refining and formulation of data into information products needed by many industries.
As I said in 2012:
Protect – Control – Monetize