Four major U.S. real estate brokerages plan to jointly build and share a property listing database, retaining limited listing options.
According to CNBC, AGNT, HomeServices of America, Keller Williams, and RE/MAX Holdings have announced plans to jointly build the Open Real Estate shared listing database and invite other brokers to join. Participants must submit new listings within one business day. The initiators stated that the plan aims to address fragmented listing information and private listings, but the platform will still have a "participant view" option, visible only to agents under participating brokers and not for public marketing. AGNT CEO Leo Pareja said the database would cooperate with existing Multiple Listing Services (MLS) and is not intended to replace MLS or become a national MLS.
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