The two largest multiple listing services in the country have signed an agreement to collaborate on technology solutions. California Regional MLS (CRMLS) and Bright MLS announced on Wednesday that the organizations will explore solutions that work for all industry stakeholders, including brokers, agents, other MLSs, and consumers. The deal does not create a separate legal entity.
The first step in the collaboration is the two organizations completing a data share agreement which will enable them to explore the power of a larger, shared data set. The companies will then work to identify ways they can eliminate redundant technologies and work to improve the user experience by creating a customer-facing website for both organizations. Bright MLS currently has a consumer-facing site: brightmlshomes.com.
“I’ve always believed that establishing business partnerships is one of the most important steps a company can take to accelerate growth, learn, and ultimately surpass expectations of what’s possible,” Brian Donnellan, president and CEO of Bright MLS, said in a statement. “Our alliance is built on a strong foundation of trust and mutual respect coupled with a desire to work towards a better future for the entire MLS industry.”
This collaboration is similar to MLS Aligned, which was formed by seven MLS organizations across the country: ARMLS, UtahRealEstate.com, MetroMLS, MLSListings, RMLS, NNRMLS, and Beaches MLS. MLS Aligned is a data distribution tool that enables MLSs to move their data to vendors, brokers, and other MLSs.
Multiple listing services have also recently been coming together to form joint ventures. In December, CRMLS announced the creation of a venture fund and its first investment in the real estate platform Perchwell.
CRMLS began in Southern California and now serves more than 110,000 professionals throughout the Golden State, making it the largest MLS in the country. Bright MLS is made up of nine MLSs spread across six states and Washington, D.C. in the Mid-Atlantic and serves roughly 98,000 real estate professionals. Together, the entities represent over 200,000 members.