Broker Public Portal Announces Progress on Branding, Vendor Selection and MLS Agreement
ARROYO GRANDE, CA, SEPTEMBER 17, 2015 — Broker Public Portal (BPP), a partnership between real estate brokerage firms and multiple listing services (MLSs) across the country aimed at creating a better and simpler home search experience for consumers, today announced an update on the development of the project following its most recent Board of Managers meeting.
“As the momentum continues, I am pleased to provide an update on the development of the broker public portal project to our many supporters. In keeping with good practice, it is helpful to restate the rationale and goal of the project,” said Merle Whitehead, Broker Public Portal LLC Chairman. “For the past 20 years, the online home search experience has been defined by those who sell ads, not homes. It’s now our turn to speak, to imagine, and to create and deliver a better home search experience. Over the past 60 days, we have been focused on three distinct efforts: 1) the development of the brand; 2) the development of the data license agreement between MLSs and the BPP and 3) the fielding and analysis of RFP responses.”
Branding Update
Whitehead said that 1000watt, the agency that was hired by the BPP to create and develop the company’s brand identity and message, has done a fantastic job. “They reviewed the results from their research process that included doing interviews and focus groups with a broad spectrum of industry professionals. Industry research was coupled with their research of consumer home search experiences. Four options for names are being considered by the Board with a final decision to be announced soon,” said Whitehead.
Legal Agreement Update
“The law firm completed a process whereby they solicited industry-wide feedback on the agreement template between the MLSs and the Broker Public Portal. Remember that the BPP is owned by MLSs and brokers, so this is more of an agreement by and among peers with common interests. We have a draft agreement that is progressing daily. It has been reviewed through two comment periods and is being improved to meet the diverse needs of the stakeholder. Its highlights support fair display of listing content, no FSBO listings; active listings, and off market listings where available for display from the MLS (illustration: Some MLSs are not allowed to display sold data by State Statute so the agreement would be modified as such). The draft agreement can be found here: http://bit.ly/BPP-draft.
Product Update
“The RFP workgroup reviewed more than 14 different proposals that were submitted. Some companies are continuing to submit their suggestions. The more bids we get, the merrier we are. Our MLS board members reviewed the pricing examples from the RFP responses and observed that the project’s cost will be economical for MLSs to provide as a member benefit.
“Our workgroup will now begin the effort to create a detailed specification for the product for both mobile and responsive web development. The board is considering a Build vs. License scenario. On one hand, using an off the shelf product will accelerate speed to market. On the other hand, developing the site from scratch has many self-preserving benefits too. We endeavor to move quickly through this phase.
Financial Update
“To date, 104 companies have contributed $5,000 to the effort to develop a consumer home search experience that is more straightforward and clear than those offered by advertising-driven media companies. We have started investing these funds into our development efforts. We feel we are getting great return on investment and support continues to increase as more brokers and MLSs sign on and contribute. A complete list of BPP supporters can be found here: www.brokerpublicportal.com/founders.html.
About Broker Public Portal
The Broker Public Portal is a nationwide group of leading Multiple Listing Services (MLSs) and real estate brokerage firms supporting the creation of a national property search portal. The portal aims to deliver the most comprehensive, timely, and complete property information to consumers while adhering to the fair display guidelines that brokers expect when their content is displayed online. More information can be found at www.brokerpublicportal.com.
Media Contact:
Kevin Hawkins
Phone: (206) 866-1220
Email: kevin@wavgroup.com