REdistribute expands broker access; Stellar, MIBOR share data 

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.

REdistribute invites brokerages to join data-licensing venture

REdistribute, a data-licensing joint venture founded by Bright MLS and California Regional MLS,  will now be directly available to brokerages, the partners announced this week. 

Launched in 2023, the venture aggregates and licenses content from participating MLSs and monetizes it exclusively for use by lenders, insurers, government organizations and other institutions. Revenue from licensing is then shared with the originating MLSs and brokers. 

Previously, the program focused on MLS partnerships, but by soliciting brokerage participants, REdistribute aims "to fill coverage gaps in markets where the local MLS has not yet joined," according to a news release.  

The initiative currently covers about 70% of the country's listings, and inviting brokerages to join is expected to help push that share to 90%, the company said. 

"Institutional buyers do not want a patchwork. They want complete, current data from the people who create it," said Amy Gorce, CEO of REdistribute. "We built REdistribute with the MLS community, and the MLS remains our first and preferred partner. Where an MLS is not ready to participate, brokers should not have to wait to be paid for their data. We accept broker licensing today, and we are expanding that program now."

REdistribute noted that the timing makes sense given the recent announcement of Open Real Estate, a data-sharing platform that also plans to monetize broker listing data, because it demonstrates that "the broker compensation model already exists."

Florida-Indiana data share launches using RPR platform

Stellar MLS and MIBOR Broker Listing Cooperative have formed a data-sharing partnership to provide subscribers with access to listings in both MLS systems, effective Nov. 4. The collaboration is powered by RPR View from Realtors Property Resource, which gives users access to approved off-market and historical listing data across the two databases.

Stellar is one of the nation's largest MLSs with over 75,000 members across Florida and Puerto Rico, and it has been a pioneer in data sharing, forging regional and national partnerships with several major MLSs. MIBOR, based in Indianapolis, Indiana, serves roughly 10,000 real estate professionals. 

While the MLSs are not geographically adjacent, "relocating homeowners and buyers often have real estate interests in both markets," according to a news release. 

"Buyers and sellers deserve informed guidance wherever their real estate goals take them. Often, they don't stop at market boundaries, and neither should access to trusted listing information for the real estate professionals who serve them," said Shayne Fairley, CEO of Stellar MLS. 

By sharing data, added MIBOR CEO and President Shelley Specchio, "we are reducing friction for professionals working in both states and demonstrating what is possible when MLSs collaborate around the needs of brokers, agents and consumers."