MRIS and TREND announce intent to consolidate, introduce new version of MLS

Metropolitan Regional Information Systems, Inc. (“MRIS”) and The Delaware Valley Real Estate Information Network, Inc. (“TREND”) have announced intentions to consolidate, as well as create a new “era” of MLS.

According to the press release, their goal is “to create the next era of MLS that preserves compensation and cooperation, promote the expansion of an orderly and efficient marketplace, and provide brokerage firms greater control of and access to their listing content.”

Using the acronym MAPS (Mid Atlantic Property Services), solely as a working title, MRIS and TREND will strive to change the way MLSs do business.

Brokerage firms will be the primary customers, and MRIS and TREND will aim to strengthen broker business with access to a larger service area that “better aligns” with their own market areas.

“The increased resources and buying power of the new organization will assume the cost, technology, research and development, deployment and support of core products and services that create the most efficient real estate marketplace for all stakeholders. The brokerage firms will have greater control of and access to their listing content, with maximum efficiency,” according to the release.

MRIS and TREND state that they recognize they are not alone in the challenges they face, and a key part of this effort goes beyond the simple consolidation of two MLSs. Other MLSs, associations and brokers who share this vision will be encouraged to join and help shape the model and standard of the future MLS from the outset.

“MRIS and TREND encourage other interested MLSs, associations and brokers to participate in this effort and help shape the future of the new organization from inception,” said TREND President and CEO Thomas Phillips.

Shareholders of both MRIS and TREND still must vote on their intention to consolidate, but both organizations have entered into a written agreement.

Meanwhile, MRIS and TREND said they have begun examination of issues central to the formation of a new organization including but not limited to: ownership, governance, financial due diligence review, fees, funding of a product innovation and integration team, how to transition subscribers, the location of the new organization and its staffing requirements.

The task force behind these suggestions included:

• Anne Marie Matteo – CEO, Suburban West REALTORS® Association
• Brian Donnellan – COO, MRIS
• Christine Todd – CEO, Northern Virginia Association of REALTORS®
• Cindy Ariosa – Senior VP & Regional Manager, Long and Foster Real Estate, Vice Chair of MRIS Board
• David Charron – President & CEO, MRIS
• David Howell – Executive VP & CIO, McEnearney Associates, Secretary of MRIS Board
• Gene Millman – Residential Real Estate Broker, Emory Hill Millman West, TREND Chairman of the Board
• Jack Fry – Owner, RE/MAX of Reading, Executive Committee of TREND Board
• Joan Docktor – President, BHHS Fox and Roach REALTORS®, Vice Chair of TREND Board
• Jon Coile – President & CEO, Champion Realty, MRIS Chairman of the Board
• Ken Schneider – VP Product Management, TREND
• Tom Phillips – President & CEO, TREND