Broker Public Portal Reaches Funding Milestone

ARROYO GRANDE, Calif., March 19, 2015 (GLOBE NEWSWIRE) -- A nationwide group of leading real estate brokerage firms and Multiple Listing Services (MLSs) have exceeded their initial benchmark of raising $250,000 towards a National Broker/MLS consumer-facing website in just 10 weeks. The initiative, known as the Broker Public Portal, was first made public in January and includes participants from 32 MLSs and 24 real estate brokerages who contributed $5000 each. A webpage for the project is available at www.brokerpublicportal.com. To launch the initiative, this group established a milestone of raising $250,000 to fund the project's start-up expenses and gauge interest in the project. Among other expenses, funds will go to legal fees, administrative costs, and meeting expenses. The effort to raise the organization funds was launched in January of 2015 and the goal was met in 10 weeks, on March 10, 2015. According to Victor Lund of the WAV Group, a consultant for the project, 21 additional brokers and 18 MLSs are processing their agreements, which will add appreciably to the talent pool supporting the organization and to the resources available to it. "The group met their milestone quickly," Lund said, "and we won't turn additional contributors away. The wider the industry support is for this initiative, the more likely its success and durability," he added. Lund explains that MLSs have long provided regional consumer facing property search websites. In December of 2014, a group of like-minded real estate brokerages and MLSs met to discuss the possibility of building a National MLS consumer facing website to fill an unmet need in the online marketplace. "This is an effort that is good for the real estate industry today and will benefit brokers and sales associates for many years to come," said Robert Moline of Berkshire Hathaway Home Services of America. Cameron Paine of Connecticut MLS added, "We have just over one-third of the real estate industry and many of the largest MLSs and brokerages in the country currently involved in this project. By the time we have completed our build out of the Broker Public Portal initiative, the benefits to the brokerage community, the MLSs, and the public will be so clear that I believe we will see even broader support from the industry. "The group gathered support for the project widely by engaging broker networks, franchise organizations, MLS networks, attending conferences, and providing information to the media. The first meeting of the contributing organizations was held on March 18th, 2015 by telephone conference where an interim executive committee was announced. The first in-person meeting of the organizers is scheduled for April 22, 2015. Below is a list of corporations contributing to the effort to date. More are expected to join the project before the first meeting next month. ARMLS Austin Central Texas RIS Baird and Warner Carolina Preferred Charleston Trident Cincinnati Board of REALTORS Coldwell Banker Perry & Walston Colorado Real Estate Network Columbus Realtors Connecticut MLS CRIS MLS Crye-Leike Cutler Real Estate Edina Realty F. C. Tucker Real Estate Gardner REALTORS GFLR Greater Tulsa AOR Greenridge HomeServices of America HGAR Howard Hanna Hunt Realty IRIS John Green Realtor Keller Williams Austin Leading RE Long Realty Louisville Realtors Lyon Real Estate Maine Real Estate Info System MARIS - Mid America Regional Info MetroMLS MIBOR Michael Saunders MLS Listings MLSPIN MRED MRIS NNREN NNRMLS NOREIS Toledo NORMLS Pacific Union RealComp Realty USA RealtySouth RealtyWeb Regional MLS of Minnesota Shorewest SIRMLS Trend MLS Watson Realty William Pitt Sothebys Windermere WNYREIS  

CONTACT: Kevin Hawkins
         WAV Group
         206-866-1220
         [email protected]

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