New York’s largest MLS just got bigger
OneKey MLS is acquiring Mid-Hudson MLS, bringing its membership to nearly 50,000.
OneKey MLS, the tenth-largest MLS in the country and the largest in New York State, is acquiring a neighboring MLS in a shared coverage area.
The details: OneKey MLS has announced a consolidation deal with Mid-Hudson MLS. The acquisition will add more than 1,400 agents and around 350 offices throughout the mid-Hudson Valley area to OneKey's subscriber base, bringing its total number of members to nearly 50,000 agents in more than 4,800 offices, including Manhattan and Long Island.
The deal is expected to be finalized in January, according to a news release.
Why merge? OneKey MLS CEO Richard Haggerty said the merger will give consumers and members access to a broader pool of listings information and improve efficiency. It will also help agents by eliminating the need for duplicate MLS memberships and fees, and they will no longer have to spend extra time maintaining listings in two systems.
Brian Engles, executive officer of Mid-Hudson MLS, said the timing made sense for his organization because they were due for a system upgrade, and former Mid-Hudson MLS members will now be able to take advantage of new tools provided by the larger MLS, including OneKey's consumer-facing website.
The merger reflects a consolidation trend across the industry, which many leaders feel is a step in the right direction. Frank DellAccio, OneKey MLS's Board of Managers Chairperson, said the consolidation between OneKey and Mid-Hudson "is a win-win all around," adding: "It is our vision to continuously provide broader and better access to accurate data for our agents, brokers and consumers, for the betterment of the entire industry."
In September, NorthstarMLS CEO Tim Dain expressed a similar sentiment, telling Real Estate News that agents and other real estate professionals "are going to require more robust tools that offer the technologies and reach consumers expect. Smaller MLSs are going to find it more difficult to support these consumer demands and will want to look for ways to partner or merge with other MLSs who can better meet these requirements."