One Size Does NOT Fit All: Why Customized Data Is Crucial for MLSs

The real estate industry is overflowing with turnkey software that’s exactly the same across every installation. While this is often fine at the agent and, to an extent, broker levels, a “one size fits all” strategy isn’t robust enough for the needs of MLSs, particularly when it comes to property data.

Flood maps, for example, may be important in Louisiana, but not so much in Delaware or Maine. Illinois may not need wildfire data, but it’s critical in California and Texas. And even within the same state, rural MLSs may have very different needs than their metropolitan counterparts.

That’s why it’s necessary for MLSs to seek a property data partner that offers a variety of data sets, matching the needs of their customer to existing data. Today, we’ll examine how an intuitive approach to data empowers MLSs and their subscribers — and how MLSs can get property data that’s customized to their specific regional needs.

Why data shouldn’t be one-size-fits-all

Every MLS is unique, and a property data strategy that works for one MLS may not work for another. That’s why CRS Data, creators of the property data platform MLS Tax Suite, offers data customization to each of their customers.

“A local MLS knows more about their data needs than we will, so we work with them on an individualized basis to meet those needs and integrate the necessary information into the product,” says Sara Cooper, Executive Vice President of Real Estate Market at CRS Data.

Depending on location, an MLS may want certain property data features which might not be available through assessor tax collection, like noise pollution from a nearby Air Force base or airport, says Cooper. Some MLSs may seek data sets based on their region’s climate, such as insurance information on wildfires, flooding, tornadoes or other natural disasters. Cooper notes that CRS Data has also received requests for HOA, building permit, lien, and foreclosure information.

“Because every customer is unique and has unique data needs, it’s vitally important for us to be able to provide individualized information that’s relevant to them and their customers,” Cooper says. “It’s not a one-size-fits-all, turnkey solution because every MLS has unique data sets which they know make a huge difference when it comes to listing a home.”

The urban vs. rural data divide

Sometimes MLSs require a more granular approach to property data that makes distinctions beyond different regions or states, like serving the distinct data needs of rural vs. urban MLSs. Metro areas, for example, tend to have more apartments and condos, which can be difficult to map data sets to compared to single-family homes which dominate rural areas. In rural areas, MLSs may face challenges with mobile homes, which may sit on land that might not actually be property.

“Access to high-speed fiber internet is another data set that we are often asked about, which is much more often available in metro areas compared to rural areas,” says Cooper. “In new areas that are being developed, zoning codes are an important data set for MLSs.”

Requesting specialized data

If there is specific or out of the ordinary data an MLS is interested in, they can simply ask CRS Data for it.

That goes for both new or established customers. “If we get a request from a new customer, it’s typically because they came from one of our competitors and had that functionality there,” says Cooper. “For existing customers, specialized data set requests typically arise from our conversations with the MLS and fielding customer support questions that pertain to their area.”

Depending on the data set, CRS Data can typically go to the source of the data. If it’s not available at the source, the company works with other data partners who collect that data at a higher level. To get home environmental data, for instance, CRS Data partnered with Earth Advantage’s Green Building Registry (GBR). “They collect all available environmental and green home data, then we work with them to integrate that into MLS Tax Suite so it’s available to our customers when they need it,” says Cooper.

When it comes to implementation, CRS Data prides themselves on working with individual MLSs to personalize data sets. The implementation process and timing varies depending on where the data is coming from, but usually takes around 30 days, according to Cooper. During that time, the company works with the MLS to ensure the new data sets fit within their workflow and provide value to their members. Once a new data set is implemented, it is auto-populated into the feed.

To support their customers, CRS Data offers in-person training, webinars, and a help desk monitored by real humans.

“While we strive to make our products intuitive and easy to use, we understand the importance of support and are always here to ensure users are getting the most benefit from our product,” Cooper says.

CRS Data’s MLS Tax Suite is a powerful data tool for real estate professionals. Get an introduction to the platform here.