North Carolina Regional MLS has created an impressive and unique alternative to the data share models promoted by other MLSs. Through NCRMLS’s wholesale cooperative model, they have proliferated in North Carolina and now reach into southern Virginia with their latest announcement.
What’s the big buzz?
Jody Wainio, the current President of NCRMLS, explains the significant advantage of their wholesale cooperative model is that it brings everyone under one set of rules. It also ensures data integrity and fosters broker cooperation. But, most importantly, it eliminates duplicate MLS memberships and the accompanying fees.
The data share models, Jody says, “can have many hidden pitfalls when Realtors operate business across multiple MLSs, including different rules, documents, lockboxes, tools, field definitions, and more.”
The NCRMLS wholesale cooperative model solves these issues and removes barriers for MLS. It also provides an alternative for small MLSs that fear being acquired, as they keep their voice.
As the news release below explains, association and MLS members of the NCRMLS wholesale cooperative pay a wholesale fee per member to the regional MLS, and then each member charges its subscribers a retail price for access. Through this model, member MLSs can deliver the same “best-in-class” products and services to everyone, keeping costs down.
If you want to know more, reach out to Daniel Jones, CEO of NCRMLS. Daniel is a super nice, hardworking guy who is astonishingly passionate about what they are doing in North Carolina.
Here is the news release issued today:
NCRMLS expansion now covers more than half of North Carolina
Central and Coastal NC, VA, SC – July 13, 2022 – North Carolina Regional MLS (NCRMLS), one of the largest and most recognized Multiple Listing Services in North Carolina, rapid expansion creates a market footprint covering 51% of North Carolina – and reaches into southern Virginia. NCRMLS now serves 449 cities and towns in 49 counties by adding the MLS of Roanoke Valley Lake Gaston Board of REALTORS (MLS-RVLG) as its 16th Cooperative Member.
The Roanoke Valley Lake Gaston Board of REALTORS notes that it promotes the success of its Realtors and Appraisers by enhancing the ‘Quality of Life’ in the Roanoke Valley/Lake Gaston Area, which includes North Carolina’s Vance, Warren, Halifax, Northampton, Hertford, Nash & Edgecombe counties and Virginia’s Mecklenburg, Brunswick, Greensville, and Southampton counties, plus the city of Emporia.
“The combination of reach, support, and the delivery of high-value products and services will help our Realtors conduct business, remain relevant, and be successful,” said Chris Triepke, Association Executive, MLS-RVLG.
According to the National Association of Realtors research, Realtors want one MLS platform without borders, one set of tools, and one governing structure with one set of rules. “When Associations and Realtors aligned their focus on precisely what Realtors want – a wholesale cooperative MLS was born,” said Daniel Jones, CEO of NCRMLS. “The wholesale cooperative regional MLS model attracts many new members like MLS-RVLG because NCRMLS gives Realtors what they want.”
NCRMLS is a unique wholesale cooperative regional MLS in which member associations and MLSs pay a wholesale price per member to the regional MLS; each member then charges its subscribers a retail price for MLS access. This model empowers the member associations to retain their identity and MLS profits to provide local services and support. In addition, this arrangement helps many of the member associations afford and deliver the same best-in-class products and services, thanks to the bulk purchasing power of the larger regional organization. The wholesale cooperative regional MLS model delivers greater economies of scale and efficiency compared to the alternatives, such as data share models, according to NCRMLS.
A data share is an agreement between MLSs wherein two or more MLS systems exchange listing data. “While data share works for some MLSs because it gives Realtors more data to view outside of their market area, it can have many hidden pitfalls when Realtors operate business across multiple MLSs, including different rules, documents, lockboxes, tools, field definitions, and more. Although sufficient for some MLSs, our member Realtors and appraisers desire more from us,” said Jody Wainio, NCRMLS President 2022.
“Realtors often reap greater benefits from the NCRMLS wholesale cooperative regional model because it simplifies access to data that spans multiple MLS boundaries while eliminating duplicative MLS memberships and fees,” adds Wainio.
Operating under one common and cooperative set of rules is in everyone’s best interest. It makes it easier for Realtors to conduct business, ensuring data integrity and fostering broker cooperation. However, in a data share model, Realtors must navigate different rulesets that can conflict when multiple MLSs operate in the same area. “What’s standard practice for one MLS may not be allowed by another, leading to confusion and frustration for Realtors and appraisers. NCRMLS’s one set of rules solves this problem,” said Jones.
“NCRMLS continues to grow because Realtors choose us, and Associations choose to work together for the Realtors. Data share among MLSs may be what Associations want, but does it deliver what Realtors want? We believe that the wholesale cooperative MLS is a win for everyone,” said Jones.
NCRMLS represents over 11,800 Realtors and appraisers, with an extensive footprint encompassing over 51 percent of North Carolina, covering 449 cities and towns in 48 counties with a reach into Virginia and South Carolina. NCRMLS is a Wholesale Cooperative MLS that empowers Realtor Associations and MLSs of all sizes throughout the Carolinas by connecting their Realtors and appraisers with the most reliable and accurate data plus a powerful best-in-class toolset that includes innovative training — all at the lowest cost possible.
The NCRMLS Cooperative 16 Members include Albemarle Area Association of REALTORS®, Brunswick County Association of REALTORS®, Cape Fear REALTORS® MLS, Crystal Coast MLS, Coastal Plains Association of REALTORS®, Jacksonville Board of REALTORS®, Johnston County Association of REALTORS®, Mid Carolina Regional MLS, MLS of Goldsboro, Neuse River Regional Association of REALTORS®, Orange Chatham Association of REALTORS®, Roanoke Valley Lake Gaston Board of REALTORS®, Rocky Mount Area Association of REALTORS®, Topsail Island Association of REALTORS®, Washington-Beaufort County Board of REALTORS®, and Wilson Board of REALTORS®.
More information is online at ncrmls.com.