Overview
Although a large number of MLS Board’s do not charge any fees for data feed access, some do, and these fees will increase the overall cost of Lucit integrations for Real Estate brokerages that are members of MLS Boards that charge data feed fees.
Lucit is continuing to work to eliminate these fees for products such as ours that are focused on property promotion controlled by brokers and agents
Why fees should be eliminated
We strongly believe that as the brokerage, the data that you provide to the MLS Boards and the Data Feed Providers is your data. The fees associated with using your own data for products such as Lucit stifles innovation and unnecessarily increases costs for brokerages and agents
Contacting the MLS Board / Data Provider
In order to continue to change the way that MLS Boards and Data Providers architect their fee structures, it is helpful when brokerages who are members of these boards, continue to advocate for the elimination of fees for their data
We strongly recommend sending a formal email to your Board and/or Data Feed company worded similar to the following example.
Example Email
Hello {Data Feed Organization or MLS Board},
I am requesting a waiver of the MLS Data Feed fees that you are charging Lucit for the MLS data from my brokerage. These fees are a limiting factor that puts my brokerage at a disadvantage to other advertisers in our community. Because of the fee structure, Lucit must charge these fees back to my brokerage.
The Lucit Billboard platform uses IDX data in a very narrow and special way, and we formally request a waiver of fees associated with retrieving IDX data (via RETS, RESO, or any other available means)
Lucit is a platform that assists customers in connecting their data to digital signage and digital billboard advertising campaigns. The major groups of data that Lucit works with is as follows:
• Automotive (no data fees)
• Real Estate (fees)
• Motorsports (no data fees)
• Equipment / Ag (no data fees)
• eCommerce (retail) (no data fees)
In the case of each of these customers, Lucit provides an application that takes in data feeds and uses that data to generate automated creatives for the digital signage / out-of-home campaigns. Lucit treats MLS data in the same way that data is treated for each of the verticals that we connect to.
In order to ensure that Real Estate agents are not at a disadvantage to the very limited space available for digital out-of-home, I am requesting that the fees are waived for the IDX feed to Lucit.
Because of high IDX fees, Out of Home and Digital Signage Advertising Campaigns are much more expensive for a real estate brokerage/agent, than they would be for an Auto Dealer or an eCommerce company for the same functionality and the same space.
To learn more about Lucit please visit https://lucit.cc/realtors/
For more information or questions about this process, please contact us here