How Handshakes Work - Travis Martinez

How Handshakes Work

a) How the Handshake system operates among Members?

The Handshake system and how it relates to locate real estate professionals, is generally governed by the listing agreement between broker and seller, the License and applicable state legislation respecting the regulation of the trade of real estate.

Normally, these governing documents recognize that the listing information is owned by the broker. As the owner of the listing information, the broker is generally able to advertise this listing information in any medium or mechanism as desired (subject to certain requirements of state legislation). The Handshake system is an applicable mechanism that the broker is legally entitled to advertise their listing information on.

The Handshake system enables an agent for a listing broker to enter a listing and share said listing where that agent is authorized to do so under their broker – agent relationship/agreement. Under the License, the listing Member represents and warrants that they have such authorization. Therefore, where a Member enters a listing and subsequently uses Handshake to advertise it, they represent and warrant that they have the authority to grant a license to use the listing information to the “advertising” Member. In the event that they do not have such authority, they would be the individual ultimately liable for entering the listing in the Handshake system.

b) How the Handshake system operates between Members and third parties?

Simply put, it doesn’t.

Handshake is a “closed system.” It does not accept any compilations of listing information from other systems. A Member must enter a separate, proprietary compilation of listing information in the Handshake system. That compilation of listing information can only then be shared with other Members in the Point2 Agent.

However, the Member also may choose to utilize Point2’s listing syndication services. This service lets Members advertising their compilation of listing information on recipient sites such as Google Base and RealEstate.com.

c) How the Handshake system operates between Members and MLS’s?

Similar to b), it does not.

The Listing entered into an MLS system is a different compilation of the listing than the one entered into the Handshake system by Members. Therefore, two different listing information compilations of the same real estate may exist in each respective system. These compilations are two different pieces of property, both owned by the Listing Broker.

The MLS system and how it relates to listing compilations created using their tools is generally governed by the listing agreement between broker and seller, the MLS licensing agreement and applicable state legislation respecting the regulation of the trade of real estate.

Summary

Handshake and the MLS are two different systems. Listing information in each respective system are both governed by the listing agreement between broker and seller and applicable state legislation respect the trade of real estate. However, the listing compilations in each system are governed by the respective systems Agreement with the user and neither system’s Agreement have any impact on the other system.

License Agreement

Real estate brokers enter into listing agreements with real estate sellers to advertise their listings
Members are bound by the Point2 Agent License Agreement (“License”).
The License contains a provision that states as follows (paragraph 9. of License):

“Where User participates in or utilizes Agent Handshake™, User grants the right to use, publish, promote or otherwise advertise User’s shared listings to other applicable Point2 Agent users. Further, User represents and warrants that they are authorized to make said grant of rights to other Point2 Agent users. User acknowledges and agrees that Agent Handshake advertising relationships are created and participation occurs automatically. User understands and agrees that they have the ability and obligation to manage, end, engage and/or alter Agent Handshake agreements as User desires or is required by law.”

After agreeing to the License, Members can enter listing information about real estate into their Point2 portal and subsequently choose to advertise those listings on other specific Point2 Member portals.
Of that listing information in d), a separate, proprietary compilation of listing information about real estate may or may not be entered into the local MLS system.
Each jurisdiction (State/Province) has regulatory bodies relating to the “trade” of real estate. The regulations often relate to the advertising of Multiple Listing Service real estate listings. The regulations protect real estate consumers.