REAL ESTATE TECHNOLOGY
Bright MLS | July 15, 2022
Bright MLS and California Regional MLS (CRMLS), the nation’s two largest Multiple Listing Services, announced today the launch of REdistribute, LLC, a joint venture that changes how MLS data is collected and distributed on behalf of the real estate industry for institutional use.
REdistribute will aggregate and distribute data on behalf of participating MLS organizations and brokerages, providing unbiased, up-to-date MLS data directly from the source to institutions involved with the housing industry, and puts brokers back in control of their data rights and data usage. Additionally, the revenue generated by REdistribute will be shared back with the brokers and MLS organizations who participate, ensuring that participants are compensated fairly – and at true market value – for the data they provide.
“The exchange of real estate data is currently a one-way street, Third parties are aggregating and providing MLS data to government entities and a host of other for-profit companies. What’s missing are the data rights, data management and fair market compensation provided back to the owners of the data – the brokers.”
Art Carter, CEO of CRMLS
“Today, we are rewriting the rules of engagement,” said Brian Donnellan, President & CEO of Bright MLS. “Now is the time for professional MLS organizations to invest in solutions that create additional value for brokers, while also delivering the most comprehensive, accurate and freshest data to critical participants in the housing industry. Mortgage lenders, government sponsored entities and others creating property valuations and insights and their constituents will benefit greatly from REdistribute.”
Bright and CRMLS began working collaboratively late last year on solutions that improve services for the brokerage community, including recent work on a showing services hub that supports more choice for brokers. REdistribute is the next step the two companies are taking together, and at launch aggregates the MLS data of Bright and CRMLS, with Beaches MLS in Florida also signing a letter of intent to join for the launch.
“Beaches MLS is excited to be the first ownership partner with Bright MLS and CRMLS on REdistribute to bring even more value to our brokers,” stated Dionna Hall, CEO of Beaches MLS.
In addition to distributing MLS data from the source, REdistribute will also deliver innovations that will allow licensees such as lenders, insurance companies and government-sponsored enterprises to gain real-time insights on a market-by-market basis.
About California Regional MLS
California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing more than 110,000 real estate professionals from 40 Associations, Boards, and MLS organizations. CRMLS provides accurate data through innovative technology solutions, empowering real estate professionals to cooperate and succeed.
About Bright MLS
Bright MLS was founded in 2016 as a collaboration between 43 visionary associations and two of the nation’s most prominent MLSs to transform what an MLS is and what it does, so real estate pros and the people they serve can thrive today and into our data-driven future through an open, clear and competitive housing market for all. Bright is proud to be the source of truth for comprehensive real estate data in the Mid-Atlantic, with market intelligence currently covering six states (Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia) and the District of Columbia. Bright MLS’s innovative tool library—both created and curated—provides services and award-winning support to well over 100k real estate professionals, enabling their delivery on the promise of home to over half a million home buyers and sellers monthly. In 2021, Bright subscribers facilitated $141B in real estate transactions through the company’s platform.
REAL ESTATE ADVICE
Stewart | September 22, 2022
Stewart Information Services Corporation today announced that Stewart Valuation Intelligence, LLC (SVI) has been verified to support Freddie Mac’s new Property Data Report (PDR) with VALIDITY Pro and its national panel of highly trained real estate brokers and agents.
VALIDITY is the company’s family of inspection applications, optimized for mobile phones or tablets. With VALIDITY Pro, an SVI broker or agent conducts a full property inspection to collect Freddie Mac’s required data for the PDR.
“Being an Appraisal Management Company (AMC) with the technology and dedicated broker network needed to complete the reports for our clients is a huge advantage, Our customers don’t have to rely on unknown third-party providers. All our PDRs are produced with our network partners using our Freddie Mac verified VALIDITY Pro application.”
-Aaron Fowler, President of Stewart Valuation Intelligence, LLC
Starting in July, Freddie Mac transitioned from offering automated collateral evaluation (ACE) appraisal waivers to offering ACE+ PDR for cash-out refinance and certain “no cash-out” refinance Mortgages. This change will allow Sellers and Borrowers to continue to benefit from loans originated without a traditional field appraisal while mitigating risks.
In accordance with Freddie Mac’s requirements, VALIDITY collects all needed information and data including digital floor plans with dimensions and calculations, comprehensive sets of subject property photographs, property characteristics represented in the property data set, and adverse property conditions that require repairs, alterations, or an inspection by a trained professional, added Fowler.
Stewart is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success.
REAL ESTATE TECHNOLOGY
HelloSign and RESAAS | August 20, 2022
RESAAS Services Inc., a technology platform for the real estate industry, has partnered with HelloSign, a Dropbox company, bringing electronically-signed referral agreements to the real estate industry.
RESAAS is already used by one in four REALTORS® in the United States for facilitating brokerage-agnostic referrals between Real Estate Agents. To facilitate a secure and transparent method to electronically sign a referral agreement, RESAAS has successfully integrated HelloSign technology into the RESAAS platform.
"HelloSign is excited to partner with an industry platform with the vast reach RESAAS has across real estate, Our ability to provide global scale that organizations like RESAAS require sets us apart. HelloSign's technology makes integrations efficient, which enabled RESAAS to incorporate electronic signatures into its existing technology platform in just two weeks."
-Kelash Kumar, Vice President of Product at Dropbox
Since implementing HelloSign, RESAAS has seen over 80% of new referrals use electronically signed referral agreements.
RESAAS has brought trust to the real estate industry, The addition of electronically signed agreements to the existing RESAAS referral network is what the industry has been calling for. The RESAAS referral solution has already won multiple industry awards, enabling REALTORS® to trade referral business globally. Now, thanks to electronically signed referral agreements, RESAAS Agents can set out agreed terms of referrals and ensure they collect a fee for any referral they share through RESAAS,said Tom Rossiter, CEO of RESAAS.
HelloSign, a Dropbox company, simplifies work for millions of individuals. Customers all over the world trust the HelloSign platform – which includes eSignature, digital workflow and electronic fax solutions with HelloSign, HelloWorks and HelloFax – to automate and manage their most important business transactions.
About RESAAS Services Inc.
RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations.