“The MLSs collectively paid $53.5 million to buy Remine. Remine is a wholly-owned subsidiary of MLS Technology Intermediate Holdings, which is a wholly-owned subsidiary of MLSTH.
According to legal filings, on February 19, MLSTH hired Rock Creek Ventures, a financial advisory firm that specializes in business restructuring, to run an eight-week sale process for Vienna,Virginia-based Remine under a proceeding known as an assignment for the benefit of the creditors or ABC.
According to the American Bar Association, an ABC “is a business liquidation device available to an insolvent debtor as an alternative to formal bankruptcy proceedings”
Embarrassing. And it couldn’t come at a worse time.
“Dionna Hall, CEO of BeachesMLS, stated: “At BeachesMLS, we are committed to providing our members with innovative solutions that enhance their business success. Partnering with PropStream allows us to offer a powerful lead generation tool that complements our existing resources, empowering agents to find more opportunities in today’s competitive market.”
Good to see Brian Tepfer continue to get traction with PropSteam. I think it’s a great way for MLS organizations to offer their members choice in generating more business. I got a demo from, Jessica Richardson, PropStream’s Head of Industry Relations, and was impressed with their platform.
In this episode of Industry Relations, Rob and Greg break down three major real estate bombshells—the rumored Compass acquisition of Berkshire Hathaway HomeServices (BHHS), the Redfin-Rocket merger, and the potential shake-up of NAR’s Clear Cooperation Policy (CCP). They discuss whether Compass is actually in talks with BHHS or if this is just Wall Street speculation, how Redfin and Rocket could disrupt the brokerage model, and why NAR might be making CCP optional to dodge legal liability.
Key Takeaways
• Compass x BHHS Rumors: Wall Street Journal reported that Compass was acquiring BHHS—but BHHS CEO Gino Blefari strongly denied it. So what’s the truth?
• The Redfin-Rocket Power Move: Why Rocket’s mortgage empire could turn Redfin into Zillow’s biggest competitor—and how Respa exemptions give them an edge.
• NAR’s CCP Shake-Up: Is NAR making CCP optional just to shift legal liability onto MLSs? Rob and Greg debate whether this is NAR’s “race to irrelevance.”
• Does Warren Buffett Want Out of Real Estate?: If BHHS is actually up for sale, what does that say about the future of traditional brokerages?
• How the MLS Landscape Could Change: If MLSs get to decide CCP for themselves, will we see regional MLS battles over compliance and cooperation?
Be the first to see the new app, Tuesday! Register here
“One of the ways I believe people express their appreciation for humanity is to make something wonderful and put it out there.”
Steve Jobs
Dear Vendor Alley readers,
Dan Woolley and I have partnered with Cole Boyer to launch a new app called Tuesday. We think we have created something wonderful and we can’t wait for you to see it.
Tuesday is an agent-only app that transforms MLS data into a social feed, similar to Instagram, Twitter (X), or Facebook. With Tuesday, agents can:
Follow cities and zip codes
Follow their office
Follow other agents
So instead of searching the MLS, you can now follow the MLS. You can think of Tuesday as if your MLS system and Instagram had a baby.
The inspiration for Tuesday comes from the Tuesday morning broker meetings where agents gather to learn about new listings, price drops, discuss the market, and connect with colleagues (and their competition). Our hope is that Tuesday will be the first app agents reach for in the morning.
Some of you have seen demos of Tuesday in its early stages or at MLS Reset. You also may remember that Tuesday won “Crowd Favorite” at the iOi Summit last year. Next week we are finally launching Tuesday.
Big shout and thanks to Tim Dain (the mad scientist himself) for his support and being Tuesday’s inaugural MLS customer. Cole will be doing an online presentation on Tuesday, March 25th at 9AM PT to launch Tuesday to Northstar MLS members.
Cole Boyer, Tuesday’s CEO, presenting at the MLS Reset conference
Here’s where you come in: While Tuesday will initially be available to Northstar MLS members only, we are eager to spread the word about our app throughout the industry. As a bootstrapped company, getting widespread exposure is challenging, and your influence would be invaluable. We would greatly appreciate if you could share this link so MLS executives, brokers, and agents can sign up and see Cole’s presentation about Tuesday on March 25th:
We believe that a strong MLS is vital to organized real estate. With compensation going away we need to focus on cooperation more than ever. We need better ways to engage brokers and agents to help foster that cooperation. We need a new way to MLS.
I’ll be writing a little more about its origin story, and thinking behind it. Until then, see you on Tuesday!
gr
P.S. If you are an MLS executive who would like a private demo, reach out.
“If we head toward a more fragmented model where brokerages run their own exclusive listings, data quality has to be priority number one. The current MLS system, for all its quirks, has driven huge advances in data sharing and usability. Ditching that without a solid replacement could spell chaos—and consumers, who’ve gotten used to reliable info, would be the first to lose it.
It all sounds great on paper: We’re a large brokerage, we have tons of listings, and people will come to us because of our inventory. But in 2025, there’s a basic expectation for client user experience that sets a very high bar, and frustrated clients are the last thing you want!”
Andrea Badino, VP of product and design at Zenlist, has some great points here. In a world where listings are everywhere but the MLS, what happens? With a decision on CCP looming it’s important to consider all the consequences.
“This week, REALTOR® Magazine continues its digital transformation, with all its content moving 100% online under the digital hub “REALTOR® Magazine Media.”
The winter 2025 issue will be the last print edition.”
I know it’s been a month since this news broke but I wanted to say a couple things about this announcement. There was a time where being on the back cover of REALTOR Magazine was a thing. I’m talking about the late 90s. This was before “the web”. In fact we still had registration cards in the boxes of the software we sold that users would mail (as in using a pen and licking a stamp) in to get notified of any updates/upgrades. You sold software in person, or via an “800” number.
At that time I had co-founded my first real estate software company, IRIS, and we had a product called Lightning CMA Plus. The biggest third party software company at the time was Top Producer Systems. Their product, Top Producer, was by far the biggest third party software company in the space. They typically were the main company that advertised on the back of REALTOR Magazine.
As a young entrepreneur my aspiration was to have a company large enough to be able to afford the back cover of Realtor Magazine. In my eyes, that would mean, “we made it.”
We also advertised inside the magazine itself, I seem to remember of buying the “IBC”, Inside Back Cover in the parlance of the magazine ad salesman, a few times. And like the old saying goes, “Half the money, I spend on advertising is wasted; the trouble is I don’t know which half.”
We eventually did be able to buy the back cover. And I remember specifically being in a broker office at a meeting with their CTO and him asking about who we were. Seeing a REALTOR Magazine on the conference table I flipped that magazine around pointed at our ad, and said “that’s us”.
Later at another company we launched an ad campaign where we bought a centerfold ad in the magazine, which featured Fabio. But I’ve written about that story before.
I used to keep some of those old copies of REALTOR Magazine around in my garage, but somewhere in one of my moves I lost them or threw them out.
All this reminds me of a song…
“wanna see our pictures on the cover (Stone) wanna buy five copies for our mothers (yeah) (Stone) wanna see my smiling face On the cover of the Rolling Stone” -The Cover of the Rolling Stone by Dr. Hook & the Medicine Show
In this episode of Listing Bits, Greg Robertson is joined by Megan McFarlane from New Mexico MLS and Jeff Allen from CubiCasa to discuss the growing importance of floor plans in real estate listings. They dive into why New Mexico MLS has taken the bold step of requiring floor plans on every listing, how technology like CubiCasa is making this easier, and the industry-wide momentum pushing for more complete and transparent listing content.
Key Takeaways
• New Mexico MLS’s Bold Move: Why they made floor plans mandatory and how it enhances listing accuracy and consumer experience.
• The Tech That’s Changing the Game: How CubiCasa and other solutions make floor plans more accessible for agents and MLSs.
• Overcoming Pushback: Addressing concerns about liability, data privacy, and adoption challenges.
• Consumer Demand is Clear: NAR research shows floor plans are the #1 most requested listing feature.
• Global Trends in Real Estate: Why countries like Finland and Australia have already made floor plans standard—and why the U.S. is catching up.
• The Future of MLS Compliance: How MLSs are using AI and automation to enforce floor plan requirements.
“News of the negotiations between the companies was notable because it would represent a shift in strategy from Warren Buffett’s Berkshire Hathaway conglomeration. HomeServices is a subsidiary of Berkshire Hathaway Energy, a company silo that otherwise exclusively includes energy production and transmission companies. Berkshire Hathaway, Inc. also holds other ancillary real estate services and the insurance company GEICO.”
I could make the case of Stone Point Capital buying Keller Williams and Rocket buying Redfin as an optimistic view for the industry. Meaning, “big money” thinks real estate is going to pretty much operate as it has in the past. Which is good for organized real estate
In this episode of Industry Relations, Rob and Greg tackle three major industry shake-ups: Gary Keller selling a stake in Keller Williams, REX losing its lawsuit against NAR and Zillow, and the launch of a new NAR alternative, AREA, by Mauricio Umansky and Jason Haber. They debate what these moves mean for the future of real estate, the ongoing battle over commission structures, and whether the DOJ’s real target is the MLS monopoly. If you’re looking for sharp analysis with a side of sarcasm, this episode delivers.
Key Takeaways
• Keller Williams Goes Private Equity: Gary Keller sells a stake to Stone Point Capital—what does this mean for KW’s future and private equity’s role in real estate?
• The Death of REX?: REX loses its lawsuit against Zillow and NAR. Was this just a bad case, or is the DOJ preparing to take a bigger swing?
• AREA’s New MLS Policy: Mauricio Umansky and Jason Haber’s new NAR alternative introduces a Clear Collaboration Policy—but is it just a repackaged CCP?
• DOJ’s Real Endgame: Rob argues that the Department of Justice doesn’t care about commission lawsuits—it’s after MLS monopolies.
• The Free Market MLS Debate: Should agents have multiple MLS options? Greg and Rob debate the risks and rewards of breaking up the monopoly.
