Milestones: Massive data share to benefit 300k MLS members
The three largest MLSs are expanding access to listing data across some of the most populous U.S. markets; plus, Broker Public Portal announces a new investor.
Editor's note: From regional and statewide players to locals focused on a single market, multiple listings services and Realtor associations are the backbone of residential real estate. Here we highlight some of the latest news about the organizations that are shaping the future of the industry.
3 largest MLSs to share data
California Regional MLS has reached a data-sharing agreement with Stellar MLS in Florida, marking another major partnership following an earlier agreement between CRMLS and Bright MLS, which covers six Mid-Atlantic states and the District of Columbia. CRMLS and Bright also previously partnered with Beaches MLS in Southeast Florida, the No. 10 MLS with more than 43,000 subscribers.
With this latest agreement, members of the three largest multiple listing services — nearly 300,000 real estate professionals — can now view listings across some of the most densely populated parts of the U.S., making it easier to support clients with interstate transactions in those areas.
"By connecting the three largest MLSs in the country, we are breaking down regional barriers while empowering agents and brokers with seamless data access, expanded referral opportunities, and a stronger foundation to serve their consumers," said Merri Jo Cowen, CEO of Stellar MLS, who called it "a defining moment" for the MLS partners.
The agreement is the latest in a spate of recent data shares, a strategy many MLSs have adopted as an alternative to consolidation. At the same time, the Department of Justice has been looking into data sharing in other industries, suggesting that MLSs should be aware of how that data is used in order to avoid possible antitrust violations.
Doorify MLS joins Broker Public Portal
Doorify MLS, which serves nearly 15,000 real estate professionals in North Carolina, has become the latest investor in Broker Public Portal, a venture between real estate brokerages and MLSs to create a national consumer home search site.
"By taking ownership in this broker- and MLS-controlled platform, we're ensuring our industry retains vital control over its technology infrastructure and data," said Matt Fowler, CEO of Doorify MLS, in a news release.
Broker Public Portal CEO Dan Troup said partnerships like this were "essential" as BPP gears up for a public relaunch. "Doorify's leadership in consumer-friendly branding and its commitment to data integrity align perfectly with BPP's mission of delivering both national and local MLS property-search, powered by the people who list and sell homes, not advertisements," Troup added.
Broker Public Portal is now partnering with 44 brokerages and 48 MLSs serving more than 1 million agents, according to the company.