Nations 2 largest MLSs form data-distribution company

CRMLS and Bright MLS announced a joint venture in July, Redistribute LLC, which will aggregate and distribute MLS and brokerage data to other entities including mortgage lenders, insurance companies and other players. The company will share the revenue with those MLSs and brokers who provide data. This innovative move from MLSs reveals a new avenue for brokers and MLSs to monetize their rich data. Tech companies have been reselling industry data for years – this is a new effort to keep more of it for brokers and MLSs directly. Access a video interview with CRMLS CEO Art Carter in the lead story in this Insight edition for more information about the effort.