BrokerageReal Estate

MLS joint venture for institutional use launches

Company was formed following a partnership between Bright MLS and CRMLS

REDistribute, a multiple listing service joint venture that collects and distributes MLS data for institutional use, has launched.

Its backers say it is the most accurate and current real estate information database available in the country, providing institutional users the ability to access timely data on a modern technological architecture to better serve consumers.

REdistribute aggregates and distributes data on behalf of participating organizations and their broker participants. The data is sourced directly on a daily basis, eliminating the weeks or months of lag common when third parties pull data from public records.

“REdistribute is the best resource for timely and accurate property listing data available in the country today,” said Amy Gorce, acting CEO of REdistribute. “We are thrilled to have the opportunity to deliver more value to brokers and MLS organizations while also bringing value to institutional buyers of MLS data by offering the ability to license the data directly from the source.”

MLS listings hold the most desirable data available because data collection rules are enforced by the MLS, REdistribute said in a statement. It will be a big upgrade for mortgage and insurance companies, REdistribute said.

The company was formed by Bright MLS and California Regional Multiple Listing Service, with investors that include Beaches MLS, REcolorado and Stellar MLS.

Revenue generated by REdistribute will be shared with participating MLSs.

Coverage areas include California, Colorado, Delaware, Florida, New Jersey, New York, Maryland, Pennsylvania, Washingto, D.C. and Virginia. Areas coming soon include Alabama, Louisiana, North Carolina, Minnesota, Tennessee and Wisconsin.

In 2022, Bright MLS and CRMLS, the nation’s two largest multiple listing services, announced plans for data and tech integrations.

Most Popular Articles

Opinion: Are we facing the end of the Realtor marketplace? HW+

I have spoken numerous times over the past 35 years about the fairness and efficiency of what I refer to as the Realtor marketplace, which is a combination of a multiple listing service with Realtor association oversight, supported by a majority of brokerage firms and sales agents. The provision of abundant information with rules that govern […]

Sep 18, 2023 By

Latest Articles

State antitrust claims dismissed in buyer broker commission suit HW+

Defendants in the Sitzer/Burnett class action lawsuit, which deals with buyer brokers’ commissions, are facing two fewer claims. On Monday, plaintiffs in the Sitzer/Burnett suit filed an unopposed motion for dismissal of the state law claims pled in their third amended complaint. Stephen R. Bough, a U.S. District Court Judge in Kansas City, issued a […]

Sep 20, 2023 By