The Data Monetization Path
My premise today centers on the notion that the future path of MLS lies in enhanced data monetization. Much like music is considered data that requires tracking for rights protection, MLS data needs similar treatment. This ensures that content creators—MLSs, brokers, and agents—are properly rewarded, and rights to data usage are maintained.
Maximizing Data Value in MLS
To maximize MLS data’s value, we need a structured approach:
-
Collect – Mandatory submissions of data, governed by the Clear Cooperation Policy.
-
Protect – Safeguard data through copyright and licensing agreements.
-
Curate & Control – Ensure data accuracy and prevent dilution.
-
Distribute – Use APIs and RETS to share data efficiently.
-
Monetize – Introduce “metered billing” to make usage-based (data consumption) pricing fair.
Approaches to Data Monetization
-
Equal Pricing – Fixed fees regardless of usage.
-
Fair Pricing – Fees proportional to data use.
-
Metered Pricing – Real-time measurement, charging based on precise consumption.
A Pricing System Based on Value
Today, data consumers—like vendors, CRMs, and portals—don’t always pay based on the true value of the data they receive. Moving forward, we can introduce usage-based pricing to ensure equitable pricing based on actual consumption.
Metering enables a fair, non-discriminatory system where everyone pays for what they use, benefiting the entire ecosystem—from data providers to end users.
3 Responses
I agree that we need an equitable system to track and fairly monetize data. I take exception to your analogy with music. Music is a creative endeavor that is bought like a commodity for people to listen and re-listen, even on platforms like Spotify and Pandora. This use is tracked to prevent stealing or not compensating the creator. I don’t see the MLS as analogous to selling music, now which is almost universally done online.
The MLS holds data from listings which can be monetized in a variety of ways that can be profitable to a variety of people. It should be fair and transparent, and above all, not exploited to seek consumer participation just for money. SOrry, this one hit a nerve.
Hi Ruth,
The idea of tracking and paying contributors were the major points around the music analogy, which works very well from my perspective in socializing and teaching this “new concept” in the real estate industry.
Thanks.
Thanks for you reply Saul. We will have to agree to disagree.
I stand by my opinion. There are better analogies as many business monetize the data they collect. Zillow? Homes? Amazon?