REdistribute will aggregate data on behalf of participating MLS organizations and brokerages, providing unbiased, up-to-date MLS data and analysis directly from the source to financial institutions in the housing industry.
ALTAMONTE SPRINGS, Fla., Nov. 15, 2022 /PRNewswire-PRWeb/ -- Guided by their Always Principles and their commitment to innovation in organized real estate, Stellar MLS, the largest MLS in Florida and Puerto Rico, has announced its highly anticipated investment in REdistribute. REdistribute is a new company that will provide up-to-date MLS data directly from the source to those who license it and return revenues to brokers.
"Stellar MLS is investing in REdistribute because of the value it offers to brokers who create the database that serves buyers and sellers. This watershed endeavor will shift the financial gains and downstream benefits of housing data back into the hands of those who own it – our brokers," commented Stellar MLS CEO, Merri Jo Cowen.
Stellar is partnering with CRMLS, Bright MLS, and other counterparts in this progressive industry response and solution. As an ownership partner, Stellar MLS is eager to support the launch of REdistribute in 2023. This venture will deliver clean data to the real estate industry, provide data for risk management, valuation models, and other related purposes, and generate data licensing revenue for participating brokers and MLS organizations.
The partnership with REdistribute follows Stellar's recent tech investments and industry collaborations with forward-thinking organizations, including Finding Homes, Skyslope, MoxiWorks, and FMLS. To learn more about Redistribute, read its open letter to the RE industry.
About Stellar MLS
Headquartered in Altamonte Springs, FL, Stellar MLS (Stellar) is Florida's largest multiple listing service (MLS) company, with nearly 77,000 customers in Florida and Puerto Rico. Offering a comprehensive suite of the industry's best products and world-class customer service, Stellar MLS is committed to helping brokers and agents thrive in tomorrow's competitive real estate market. Learn more at stellarmls.com/innovation.
A partnership between Bright MLS and California Regional MLS (CRMLS), REdistribute is a joint venture that changes how MLS data is collected and used for institutional use. REdistribute will aggregate data on behalf of participating MLS organizations and brokerages, providing financial institutions with unbiased, up-to-date MLS data directly from the source. Revenue generated by REdistribute will be shared with the brokers and MLSs that participate, ensuring they are compensated fairly for the data they provide. For more information, visit http://www.redistribute.com.
Laura Huffman, Stellar MLS, 1 407-960-5261, [email protected]
SOURCE Stellar MLS