Everything we know so far about Open Real Estate

AGNT Inc. (eXp Realty and NextHome), HomeServices of America, Keller Williams Realty and Real REMAX Group put the real estate industry on notice Monday morning, announcing the launch of their joint initiative Open Real Estate. The founding members of Open Real Estate have described the initiative as a “national residential real estate data-sharing initiative,” that is seeking to “streamline the distribution of property information, expand access to housing inventory and support a more open, competitive housing marketplace.” Not a national MLS In a live YouTube broadcast with BAM Monday morning, Tamir Poleg, the CEO Real REMAX Group, Chris Kelly, the CEO of HomeServices of America, Chris Czarnecki, the CEO of Keller Williams, and Leo Pareja, the CEO of AGNT, said Open Real Estate is not a national MLS and is in no way replacing local MLSs. Listings can be input directly into Open Real Estate, which will then push the listing out to the MLS and other portals and sites, or the listing can be directly entered into a brokerage’s local MLS, which will then supply the listing to portals, other sites and Open Real Estate. “All four of our companies are going to develop a single input for o...