A new MLS value proposition from North Texas Real Estate Information Systems: Pay the brokers
Every MLS in the country is getting the same question this year: what do brokers get for their data? MRED answered with a Compass partnership. CRMLS answered with an off-Zillow switch. NTREIS just answered with a check. Seven figures, self-funded, no data deal attached, going out this month to brokers based on listings entered, data completeness, and deals that actually closed. Here’s CEO Chris Carrillo:
“Brokers are the purpose behind the MLS and its primary content provider. The listings they input fuel the marketplace, provide transparency for buyers and sellers, and drive fair housing. NTREIS Rewards puts that value back where it belongs.”
Brokers have been grumbling for decades that the MLS charges them for access to their own data, then sells it back to them. This is what it looks like when an MLS finally answers the grumble. And note the direction: the rewards tilt toward brokers who kept their data clean and opted into syndication. While half the industry is hanging velvet ropes and calling it a business model, NTREIS is paying for the opposite.
This isn’t the first, or last, broker revenue share program. But it gets a lot of style points from me.
