REcolorado has long maintained standard agreements with our Participants, Responsible Brokers for a licensed brokerage firm and appraisers licensed or certified by the Colorado Division of Real Estate. The agreement outlines what you can expect from your MLS partner and how we protect your business by safeguarding your valuable data.
In light of recent industry changes, we updated our Participant Agreement to reflect the evolving landscape and ensure ongoing compliance. The Participation Agreement is not substantially different from our previous agreement, with the exception of the addition of language referencing the NAR Settlement Opt In.
We invite you to review the questions and answers below and reach out as you review the revised Participation Agreement. Should you have any questions or need further clarification, please contact our Customer Success team at 303.850.9576, option 1, or support@REcolorado.com.
Questions and Answers
Who signs REcolorado’s Participation Agreement?
The Participation Agreement is signed by: (1) the responsible real estate broker of a licensed brokerage firm, as defined by the Colorado Division of Real Estate, or (2) appraisers licensed or certified by the Colorado Division of Real Estate to engage in the appraisal of real property.
Why did REcolorado update the Participation Agreement?
In light of recent industry changes, including the NAR Settlement, decoupling from the REALTOR Association ownership, and technological advancements, it became essential to review and update our Participant Agreement.
Does the new Participation Agreement include information from REcolorado’s opt in to the NAR Settlement?
Yes. Section 15 of the Participation Agreement regarding compliance with governing rules and agreements has been updated to encompass practice changes resulting from REcolorado’s opt in to the NAR Settlement.
How does the updated Participation Agreement address Participants’ listing data?
REcolorado will continue to provide a Participant data feed, commonly known as a Participant Data Access Policy (PDAP) data feed to any Participant who requests it. The PDAP feed contains the brokerage’s own listings, not listings from other brokerages. Participants who currently have access to a data feed will see no changes in the access or data contained in the data feed under the updated Participation Agreement.
Who can obtain a PDAP feed?
A Participant or vendor authorized to use the listings on the Participant’s behalf.
As a Participant, how do I get access to a feed of my listings?
REcolorado Participants execute Data License Agreements with MLS Grid to access their MLS data from REcolorado. To initiate access, Participants can submit a written request to REcolorado. The fee for a Participant Data Access Policy (PDAP) data feed covers a portion of REcolorado’s costs to create, maintain, administer, and support data feeds.
What part of the listing data does REcolorado own?
Section 4 of the Participation Agreement that pertains to intellectual property ownership and enforcement provides that, except for the rights granted to Participants, REcolorado retains ownership of the data in the aggregated MLS Database.
Can I continue to use other MLS services if I’m an REcolorado Participant?
Yes. REcolorado’s Participation Agreement does not prevent Participants or subscribers from using other MLSs or services.
