Leading Real Estate Firms Partner to Form Open Real Estate, a National Property Data-Sharing Initiative

New industry-led effort aims to expand access to housing information, protect seller choice and strengthen market transparency

AUSTIN, Texas--(BUSINESS WIRE)--Four leading residential real estate firms today announced the formation of Open Real Estate, a national initiative to create a shared infrastructure for property listing data.

The industry’s answer to a fragmented listings market, Open Real Estate is designed to streamline how property listings flow across brokerages, multiple listing services (MLSs), real estate portals, and other platforms, with the goal of making the housing market more transparent.

In an open letter titled “Housing Markets Must Remain Open To All,” the founding members outlined a collective commitment to protecting seller choice, expanding buyer opportunity, and promoting an open, competitive housing marketplace, stating, “We believe that access, information and transparency should be a benefit, not a barrier to anyone looking to purchase a home. Buyers deserve fair and comprehensive access to available housing information. It's equally important that sellers have an honest understanding of how their homes are being marketed, who they are reaching, and the opportunities they may gain or sacrifice when deciding how best to market their home for sale. A healthy market is one where sellers can make truly informed decisions, buyers have access to the broadest possible inventory, and success is determined by those who create the most value—not those who control the most information.”

As questions grow about who controls access to housing information and how property listings are shared industry-wide, the need for a more connected, transparent housing marketplace has become increasingly clear.

For decades, shared listing systems have kept the U.S. housing market open, so that a buyer working with any agent could see most homes for sale and a seller’s home could reach the whole market. Today, more homes are being marketed privately, creating greater inconsistency in how listing information is made available and shared with buyers and the broader marketplace.

When information is fragmented or restricted, buyers risk missing out on available homes, while sellers may have fewer opportunities to reach potential buyers, extending their time trying to sell, potentially impacting their value and equity.

Founded by AGNT, Inc. (eXp Realty® and NextHome), Home Services of America, Inc., Keller Williams Realty, LLC, and Real REMAX Group, Open Real Estate brings together a diverse group of industry leaders to enhance collaboration and create a more connected national approach to property data-sharing.

Open Real Estate invites every brokerage to join as a free participating member, so consumers have reliable, broad access to market inventory.

Open Real Estate is built around four founding principles:

• Expand buyer opportunity. Consumers should benefit from broader access to available housing information and a more transparent marketplace.
• Empower informed seller decisions. Homeowners deserve clear, complete information about how their homes will be marketed, the exposure they can expect, and the potential benefits and trade-offs of different marketing approaches so they can make decisions that best serve their interests.
• Protect data integrity. All members (and users) should have full visibility to all homes available for sale and the information when sold.
• Promote fair competition. The system should make it easier for industry participants to share property information, with clear rules around governance and ownership designed to keep the platform open, fair and competitive.

The shared infrastructure of Open Real Estate's technology platform will enable participating brokerages and agents to enter property listings, with distribution to MLSs, real estate portals, and other authorized recipients. The platform will make it easier for property information to flow, helping create a more complete and accessible marketplace.

The shared listing platform is designed to work alongside MLSs, which play an essential role in establishing local listing rules and providing services to real estate professionals.

Brokerages and organizations are invited to sign a letter of support at openrealestate.com, and agents can sign up to stay informed.

About Open Real Estate

Open Real Estate is a national residential real estate data-sharing initiative founded by AGNT, Inc. (eXp Realty® and NextHome), Home Services of America, Inc., Keller Williams Realty, LLC, and Real REMAX Group committed to consumer choice, market transparency, and overall industry efficiency. Through a proposed shared data infrastructure connecting brokerages, agents, multiple listing services (MLSs), and real estate portals, Open Real Estate aims to streamline the distribution of property information, expand access to housing inventory, and support a more open, competitive housing marketplace.

Real estate brokerages and franchises interested in learning more about Open Real Estate and participating can visit the organization’s website.