BRIGHT MLS INFORMATION
As SCAOR CEO, I am proud to announce that the SCAOR BOD voted on November 17 to join Bright MLS. The vision of Bright MLS is to create the next era MLS that preserves compensation and cooperation, promotes the expansion of an orderly and efficient marketplace, and provides participating brokerage firms greater control of and access to their listing content. Bright MLS is a regional MLS that will have 36 combined REALTOR Association shareholders in six states plus the District of Columbia. The commencement date for the new MLS is January 1, 2017; however SCAOR will convert to Bright MLS in late 2017. The BOD will decide the official conversion date at a future meeting. The next BOD meeting is January 18, 2017 at 9 am.
The benefits to joining Bright MLS are as follows:
- More expansive marketplace / no overlapping markets
- Innovation with more effective technology
- Consumer facing website
- One MLS system, fee, set of rules and data feed
- Receive products beyond MLS and Public Records
- RESO compliance
- 7-day technology support
From a financial standpoint, SCAOR will benefit with a 3-year Contract with the ability to terminate service in each year. SCAOR will be compensated in each year to offset reduced MLS income. Additionally, only founding associations receive the benefits of input into key decisions on rules and policies including listing statuses, data fields and more. Non-founding associations will pay a higher standard fee in the future. The agreed upon monthly MLS will be $35. Broker reward payments are projected but not guaranteed.
To conclude, it is my goal to coordinate an orderly transition from the current MLS to Bright MLS at the end of 2017. More information on the transition and financial considerations will be communicated to members through the weekly communications and the monthly SCAORcard. At this point, it looks as if MLS dues will be prorated for six months on July 1, 2017.
Thank you in advance.
Merritt Burke IV
MLS Information Extras:
The SCAOR Office will be closing on Wednesday (11/23) at 12PM in observance of Thanksgiving, and re-opening on Monday (11/28).