Multiple Listing Services Metropolitan Regional Information Systems (MRIS) and The Delaware Valley Real Estate Information Network (TREND) have entered into a partnership for a project that will combine both their real estate listings content feed.
According to a press release from the two MLSs, participating brokers in MRIS and TREND will be able to benefit from the combined real estate data, which can also be used for IDX and broker back office, among others. The database, which will utilize the Real Estate Transaction Standard (RETS), will be called MRIS Cornerstone Universal RETS Exchange or simply MRIS CURE.
"When brokerages operate across multiple marketplaces, they must aggregate information from multiple data feeds, apply the appropriate display rules for each MLS, and pay redundant technology costs, all in order to have a unified IDX search on their own websites or improve brokerage operations," said Sandra Troccoli, Director of Information Technology & Website Services for Berkshire Hathaway HomeServices (BHHS) Homesale Realty.
"This is a new opportunity that will reduce technology costs and cumbersome management of duplicate feeds. It highlights the importance of MLS consolidation from a technology standpoint."
Jon Coile, Chairman of MRISs Board of Directors, believes that the resulting single database will enable them to focus more on business and client needs because the process of providing real estate information will be streamlined. "It brings economies of scale, common policies, and simplified processes to brokers in the Mid-Atlantic region," said Coile.
Despite having only one database, each of these two largest MLS on the East Coast, covering 61 counties, will still retain full control over the distribution, access and use of its listings. Last year, they handled more than 200,000 transactions worth $70 billion. MRIS and TREND cover 32,000 square miles in the Mid-Atlantic region, including areas of Virginia, New Jersey, Maryland and Pennsylvania.