Data shares expand in the Southeast, renew in Colorado
Agents in four states — Tennessee, Georgia and the Carolinas — can now access 1.9 million shared listings, while REcolorado and IRES re-up their partnership.
The trend of MLS data sharing has been embraced by major MLSs in the Southeast and West, with two partnerships providing expanded access to listings across four Southeastern states and throughout Colorado.
A four-state exchange: Tennessee-based Realtracs announced earlier this week that the Southeast MLS Alliance, a partnership it helped create nearly a year ago, has opened up its data to more than 110,000 subscribers across Tennessee, South Carolina, Georgia and North Carolina.
The Alliance is a joint initiative of Canopy MLS, Charleston MLS, Georgia MLS and Realtracs. When the partnership launched last year, Georgia MLS CEO Richard Boone said "it was time for like-minded MLSs … to come together and form a meaningful referral network" — one that "made geographic sense" and "kept the members as top priority."
With the official launch, members of the four MLSs now have access to 1.9 million additional listings across the region, according to a news release.
"The rollout of the Southeast MLS Alliance is an exciting moment for real estate professionals and consumers," said Realtracs CEO Stuart White. "Transcending state lines, this new data equips our customers with the exposure and efficiency they need to deliver excellent service to their clients. Whether it be creating a referral network or finding a second home, the value reshapes the real estate landscape."
A renewed partnership: The two largest multiple listing services in Colorado also announced data-sharing news this week. REcolorado and IRES MLS said they have updated the data share partnership they established in 2020, allowing their 32,000 combined members to continue accessing active and historical residential information, photography and videos across the platforms.
The agreement contains some new provisions as well, including an extension of the termination notification period and plans to work toward the inclusion of commercial property. Both MLSs have agreed to operate in compliance with the National Association of Realtors settlement by removing the offer of compensation fields, including the removal of historical cooperative compensation from the two systems.
"At a time of such dynamic change in the residential real estate market, here in Colorado and across the U.S., we're delighted to offer our subscribers the stability that this agreement represents," said Larry McGee, interim CEO of REcolorado.
"We're also bringing them more information and a platform to connect with thousands more Colorado real estate professionals and their customers," he added.
A summer of change at REcolorado: McGee took on the interim CEO role following a leadership — and ownership — shakeup this summer, replacing former CEO Gene Millman.
In June, REcolorado made headlines with the surprise announcement that the MLS was being sold to a private entity. Leaders of the MLS had been exploring the option of becoming self-owned; the decision by then-owners Denver Metro Association of Realtors (DMAR) and the South Metro Denver Realtor Association (SMDRA) to go another way generated industry-wide interest and for some, concern.
In addition to tapping McGee as interim CEO, REcolorado replaced its board. The MLS is currently in the process of being sold to MAZL, LLC, which is led by Joseph Burks, president of Equity Title of Colorado.
Correction: A previous version of this story listed REcolorado's buyer as Equity Title of Colorado. The MLS is being sold to a newly created entity, MAZL, LLC, led by the president of Equity Title.