MiRealSource has been an active supporter and participant of the Great Lakes Repository (GLR) since day one, which began over seven and a half years ago. This participation has made tremendous headway toward solving many data issues.
The GLR is comprised of a group of MLSs and REALTOR® Associations (participants) in Michigan that have agreed to share listing data with other participants using a repository method of sharing. Under this method of sharing, all participants of the GLR run their own MLSs; enforce their own set of rules; manage their own membership; control their own MLS products, but cooperate by sharing listing data in one central location.
MiRealSource believes the sharing of listing data is in the best interest of all GLR Members and the consumer by providing all of the listing data to all GLR Members, and at the same time eliminating the need for REALTORS® to belong to more than one MLS, i.e. offering MLS of choice. MLS of choice allows agents to choose an MLS based on service, products, education, location, etc. Over the past seven and a half years, the GLR has grown from zero to 11 Members all sharing data in their home database.
The GLR recently finalized agreements with the eight (8) REALTOR® Associations that are shareholders of Realcomp II Ltd., an MLS in Farmington Hills, MI. We are excited to welcome these new Members to the GLR, giving the GLR a total of nineteen (19) Members representing twelve (12) MLSs sharing data.
The new data is being mapped and is expected to go live on March 1, 2016. Once the new data is live, the GLR will be estimated to have over 55,000 active listings in the state of Michigan, and is also estimated to have 67% of the REALTORS® in Michigan and 66% of the active and historical listings in the state. This accomplishment is something MiRealSource and the other GLR participants have been hoping to offer to our members for a long time.
The repository’s method of sharing provides an extensive set of data fields making the GLR database useful for brokers, agents and appraisers. This means, all of the data will be available in Paragon, Homesnap (our new mobile app), Cloud CMA, Statistical Reports, Realist, RPR, Instanet Solutions (forms platform), Listingbook, MARKETrends Premium, and future integrated products. This also means only having to input listings one time, one set of rules to follow, one MLS fee, and one search.
“The sharing of data fields alone does not make for successful data sharing,” said Dave DeRees, President of the Great Lakes Repository & CEO of MiRealSource. “The GLR shares offers of cooperation and compensation. It also allows for sharing of IDX information, shared data on public-facing MLS websites and apps (subject to opt-outs), and the use of the shared data in third-party programs such as CMA and statistical software. The goal of the GLR is to one day have a statewide database with MLS of choice for real estate professionals.”