REdistribute, a Multiple Listing Services (MLS) joint venture that collects and distributes MLS data for institutional use, launched a real estate information database. The ability to efficiently provide information about home listings, sales and detailed property attributes in a rapidly changing market brings significant value to housing-related businesses, according to a press release.
REdistribute enables these businesses to innovate on cleaner, more timely data on a modern technological architecture to better serve consumers.
REdistribute aggregates and distributes data on behalf of participating MLS organizations and their broker participants. The data is sourced directly from the MLS community on a daily basis. 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, the release stated.
In contrast, REdistribute pulls data from participating MLSs where real estate agents must promptly update property listings for changes.
“REdistribute has disrupted the traditional real estate data collection and distribution model, while simultaneously bringing innovation to the property data market,” CRS Data CEO and President Matt Casey said in the release. “We are excited to have the opportunity to evaluate the REdistribute solution as part of CRS Data’s overall growth strategy.”
REdistribute harnessed the data directly from the participating brokers and MLS organizations. With REdistribute, the brokers and MLSs benefit from full transparency on how the data is being used, while simultaneously enabling housing-related industries make better decisions to the benefit of consumers.
“REdistribute is the best resource for timely and accurate property listing data available in the country today,” Amy Gorce, acting CEO of REdistribute, said. “We are thrilled to have the opportunity to deliver more value to brokers and MLS organizations while also bringing value to institutional buyers of MLS data by offering the ability to license the data directly from the source.”