BeachesMLS has taken an ownership position in REdistribute, LLC, a joint venture that'll change how MLS data is collected & distributed for the entire industry.
WEST PALM BEACH, FL, UNITED STATES, August 2, 2022 /EINPresswire.com/ -- BeachesMLS and Broward, Palm Beaches & St. Lucie Realtors® are dedicated to remaining a strong partner to brokers and providing direct value to their businesses. BeachesMLS has announced that they have taken an ownership position in REdistribute, LLC, a joint venture that will change how MLS real estate data is collected and distributed for the entire industry. Through this partnership, BeachesMLS brokers will soon begin receiving royalties for listings that are entered into BeachesMLS Flex or Matrix systems.
BeachesMLS realized that brokers face an ever-changing array of issues and challenges while trying to ensure that their businesses continue to thrive in today’s fast-changing real estate environment. In 2021, the BeachesMLS Board of Directors conducted a six-month study of concerns and pain points confronting brokers. A primary concern, repeatedly expressed, was challenges regarding brokerage shrinking profit margins and concerns surrounding long term viability of their business. By partnering with REdistribute, BeachesMLS puts the power of MLS data back in the hands of the rightful owners, and Brokers regain control over their data rights and profit from the income.
On behalf of BeachesMLS and their brokers, REdistribute will aggregate, normalize, and distribute data. They will provide the most accurate, current, and comprehensive data to institutions that fuel the housing industry. With this new benefit, brokers will regain control of their data rights and usage, which will result in royalties being paid back to them.
“BeachesMLS is excited to be the first ownership partner with Bright MLS and CRMLS on REdistribute. We recognize how hard brokers work, especially in the South Florida market. It’s only fair that they are compensated for the residential listings that they enter into the MLS. We look forward to seeing how this groundbreaking benefit helps our brokers thrive,” said Dionna Hall, CEO of Broward, Palm Beaches & St. Lucie Realtors® and BeachesMLS.
Most brokers are syndicating their MLS data without direct financial gain. Third parties are getting involved in the data exchange process then selling it to the government and various entities for profit. By partnering with REdistribute, BeachesMLS puts the power of MLS data back in the hands of the rightful owners. Brokers regain control over their data rights and profit from passive income.
“We are anticipating that brokers will begin receiving royalties based on their data contributions as early as mid-2023. As a real estate professional, I’m thrilled about this new partnership and all the opportunities it brings. Brokers are the backbone of this industry and they deserve to be compensated for their dedication,” said Carlos A. Melendez, President of Broward, Palm Beaches & St. Lucie Realtors®.
For more information on this innovative new benefit, contact email@example.com.