NORTH BETHESDA, Md.--(BUSINESS WIRE)--REdistribute, a Multiple Listing Service (MLS) joint venture that collects and distributes MLS data for institutional use, has secured the backing of the real estate community in Eastern Missouri and Southern Illinois. REdistribute recognizes the importance of support from the Mid-America Regional Information Systems (MARIS), a regional service that serves over 14,000 members and 14 associations throughout the greater St. Louis metropolitan area. MARIS is respected by industry peers as an important contributor to our industry and as a premiere provider of technology and business improvement tools for agents and brokers in the local market.
“St. Louis is the gateway to the West, and this investment marks another important step for REdistribute as we continue to expand our residential real estate coverage across the nation,” said Amy Gorce, CEO of REdistribute. “With the addition of the Greater St. Louis and Southern Illinois market, REdistribute strengthens our ability to offer cleaner, more timely property data to serve consumers better.”
REdistribute aggregates and distributes data on behalf of participating MLS organizations and their broker participants. The data is sourced directly from the MLS community daily, making it the freshest property data available in the country. Often, institutions involved in the mortgage, property technology, and insurance industries source real estate listing, sales, and property data from public records, where data can lag several weeks or months from the time of the transaction to the time the property record is processed. In contrast, REdistribute pulls data from participating Multiple Listing Services, where real estate professionals update property listings daily.
“We wanted to invest in REdistribute and contribute our valuable real estate data to a joint venture that can return value to our members,” said David Price, President & CEO of MARIS. “The opportunity to be part of this movement and deliver value to our agents and brokers was paramount for us.”
MLS listings hold the most desirable data available because the MLS enforces data collection rules. Real estate agents contribute accurate details that enhance the ability to sell a property; they are motivated to keep the data precise and timely because listings provide a real-time view of the current market activity. With REdistribute, the brokers and MLSs have full transparency about how the data is being used while simultaneously enabling housing-related industries to make better decisions to benefit consumers.
Licensing and access to REdistribute data are now available in the country’s most active real estate markets. To access the list of states and participating markets, visit https://redistribute.com/about/.
About REdistribute
REdistribute is a joint venture amongst some of the largest MLSs in the country that changes how MLS data is collected and packaged for institutional use. REdistribute will aggregate data on behalf of participating MLS organizations and brokerages, providing mortgage, insurance and other housing-related businesses with unbiased, up-to-date MLS data directly from the source. Revenue generated by REdistribute will be shared with participating MLSs, that allows them to add even more value to their participating brokers. For more information, visit www.redistribute.com.
