Merger Between Hudson Valley's HGMLS and Long Island's MLSLI

[velma]

I've heard rumors about this merger between the Hudson Gateway Association of Realtors (HGAR) and the Long Island Board of Realtors (LIBOR), and their associated MLS systems, the Hudson Gateway MLS (HGMLS) and Long Island MLS (MLSLI). However, I've always heard it was talks, and not definitive.

Now I'm hearing that it may be happening? Can anyone confirm this?

Are there any links to news releases to this actually happening? Obviously this would have serious ramifications as it would create a powerhouse in southern New York, and likely the largest Realtor association and the largest MLS in the country. This super MLS would cover the Hudson Valley down to Manhattan, plus all of Long Island.

Of course, REBNY would still hang out in NYC, headquartered in Manhattan. But I could see REBNY losing some significance if this super MLS becomes that much more relevant.

[Eddie McGowan]

Yes! the new regional New York MLS is definitely happening!

It will be the one source for accurate and detailed real estate data for the entire New York region. It also will be the key to accessing listings using a website that is simple, modern and comprehensive, and it will include agent tools that foster a more effective relationship between consumers and their agents.

I'm on the Board of Managers for the new regional MLS, and we've all be working hard to get the new MLS operational as soon as possible. Our corporate name is “New York MLS, LLC,” and we are working with a major NYC marketing firm on our brand name, logo and marketing materials. We already have more than 40,000 members due to the merging of members from MLSLI and HGMLS, and I believe that makes us the 5th largest MLS in the country. We already cover a huge geographic area: Manhattan, Brooklyn, Queens, Nassau, Suffolk, and stretching up north through Westchester, Putnam, Sullivan and Orange counties.

It took more than 2 years of careful and detailed planning, and the new MLS organization was formed this year. We anticipate "going live" before the end of this year. You can find up-to-the-minute updates at www.newmlsinfo.com, and you can visit our consumer website at www.newyorkmls.com (where you can also inquire about joining).

Having such a massive, professional membership gives us an economy of scale to provide many benefits to our member/agents:

1. Accurate and Detailed Data - data that cannot be found anywhere else, and with a level of detail that has never existed: drill down from the entire market, to county, zip, neighborhood, building (Manhattan), and of course to individual listings.
2. Access To and From Anywhere - built with mobile technology, you’ll easily gain access from any mobile or desktop device, to all of the data for the entire region.
3. Smart Lead Capture - consumer leads are connected directly to Listing Agents, using a Competitive, Ultra-Modern Front End.
4. Level Playing Field for Agents - our organization is self-regulating in order to provide consumers with the highest level of professional and ethical service; our Realtor®-members also create and enforce simple rules to ensure equal access for all members (whether you’re from a large or small firm, or whether you’re a top producer or a new agent).
5. Cutting-Edge Tech - like beautiful online displays of our listings, and tools that assist with consumer searches, provide instant notifications and communication with agents and their clients, and help agents to push deals through their pipeline.
6. Power of Our Own Credit Union - our members and their families get preferred mortgage and personal loan rates from a credit union that was created to support our members, that understands the business of real estate and how an agent’s income can fluctuate throughout the year. Loan programs also include developer/rehab loans, car loans, and debt consolidation loans. For more information please go to: www.MRFCU.com.

So there are some big, exciting changes coming to New York this year! I feel privileged to be a part of it. I hope that answers your question - but please feel free to contact me here (or directly) if there is anything else you would like to know.

[showtime]

This is super interesting Eddie and congrats on the promotion to the NY MLS board! Do you have any insight on how the systems will integrate? Believe the HGMLS uses "Matrix" as their software. Will that stay? Or will they use the MLSLI systems (believe it's called "Stratus")?

Also, will member dues be reduced due to the efficiency gains from merging?

Do you foresee REBNY in NYC agreeing to join the fold anytime soon?

[Eddie McGowan]

Thank you! and I'm glad you found my comment informative. Right now we're ensuring that the new database is detailed and comprehensive, so it can manage the various types of real estate data that we will be providing for the entire region. I believe most of the data has already been added to the database for Manhattan, and the MLSLI and HGMLS data is in its final stages of QA checking.

We have existing (pre-merger) contracts for both Matrix (HGMLS) and Stratus (MLSLI), so for now both systems will continue to operate, but they will each have access to a single, master database.

Concerning dues, it's our goal to be able to provide the absolute best tech that's available for our members, and consumers, while also benefiting from the economy of scale that 40,000 or more members bring. We won't have the exact numbers until just before we "go live".

Compass has already agreed to join us, and that is really great news! Part of the reason we are putting so much effort into the creation of the data structure is so we will be able to easily handle data from different platforms and regions once we go live. Flexibility is just as important as are details and accuracy. Of course REBNY is a major player in the Manhattan and Brooklyn markets, and we look forward to working with them!