Hey guys,
Ive been working on an idea I had for a while.
Being in the real estate business for a little while (real estate broker), Ive become quite familiar with the system us brokers use to search and post listings. (MLS system)
The specific software that my real estate board uses happens to be the same software as many other real estate boards use making my potential market a decent size.
After being frustrated at the way some functions worked, I developed an add-on for this software that adds a huge benefit, allows me to save hours a day, and has become indispensable to me.
After showing this add on to a few other people in the industry, including some real estate professors, other brokers, agency owners, etc. I realized then a lot of them had a huge interest in it and would definitely be willing to pay for this add on. In fact, the professor at one of the real estate schools asked me if id be willing to let the school use it to help out the real estate students.
I would like to create a company and market this add on to all the agencies and brokers who belong to the real estate boards that use this specific MLS system.
My question:
Considering that I do not own the MLS system used, can I legally sell this add on? would I need to acquire some sort of license? would I be better off licensing this idea to the company that owns the MLS system?
I do not know where to go from here. The add on is working and functional and works extremely well. I can do in 1 hour what should be taking 10-15 hours.
Keep in mind, the company that owns this MLS system is a 1.5 Billion dollar company that is publicly traded.
So... What to do? I dont know how to advance from here.
Fellow fastlaners i need your advice !:cheers:
Ive been working on an idea I had for a while.
Being in the real estate business for a little while (real estate broker), Ive become quite familiar with the system us brokers use to search and post listings. (MLS system)
The specific software that my real estate board uses happens to be the same software as many other real estate boards use making my potential market a decent size.
After being frustrated at the way some functions worked, I developed an add-on for this software that adds a huge benefit, allows me to save hours a day, and has become indispensable to me.
After showing this add on to a few other people in the industry, including some real estate professors, other brokers, agency owners, etc. I realized then a lot of them had a huge interest in it and would definitely be willing to pay for this add on. In fact, the professor at one of the real estate schools asked me if id be willing to let the school use it to help out the real estate students.
I would like to create a company and market this add on to all the agencies and brokers who belong to the real estate boards that use this specific MLS system.
My question:
Considering that I do not own the MLS system used, can I legally sell this add on? would I need to acquire some sort of license? would I be better off licensing this idea to the company that owns the MLS system?
I do not know where to go from here. The add on is working and functional and works extremely well. I can do in 1 hour what should be taking 10-15 hours.
Keep in mind, the company that owns this MLS system is a 1.5 Billion dollar company that is publicly traded.
So... What to do? I dont know how to advance from here.
Fellow fastlaners i need your advice !:cheers:
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