REcore Announces Launch of MLS Buyer Registry: Addressing Compliance, Protecting Agents, and Streamlining Workflows

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Oct 01, 2024, 09:00 ET

KNOXVILLE, Tenn., Oct. 1, 2024 /PRNewswire/ -- REcore, a premier provider of MLS SaaS and data licensing solutions, is proud to announce the launch of its groundbreaking MLS Buyer Registry product. Designed to address emerging compliance mandates related to buyer agency agreements, this tool offers a solution that not only helps MLSs ensure compliance but also empowers agents with brand-new capabilities to protect their relationships, resolve conflicts, and increase efficiency.

A Compliance-Driven Solution with Unmatched Agent Benefits

With new rules from the National Association of REALTORS® requiring MLSs to enforce buyer agency agreements, REcore's MLS Buyer Registry product tackles these challenges head-on, providing an MLS-wide tool to meet compliance obligations while delivering innovative features that protect agents and brokers. At a time when the real estate industry is navigating a significant shift, REcore's solution offers MLSs a way to manage compliance without adding undue burdens to agents.

"MLSs are now tasked with ensuring compliance with buyer agency agreements, and we saw the opportunity to not only solve that problem but also add real value for agents," said Katie Smithson, Chief Revenue Officer at REcore. "The MLS Buyer Registry provides more than just compliance – it introduces new ways for agents to manage buyer relationships, resolve disputes, and streamline their processes."

While the MLS Buyer Registry is designed to meet compliance obligations, it also introduces powerful features that directly benefit agents:

Compliance with Confidence: MLSs can ensure that a buyer agency agreement is in place before showings, addressing compliance concerns that have emerged due to new rules.
Conflict Alerts: Agents can register their buyers, and the system will notify them if a buyer is already registered with another agent. This resolves potential conflicts before they arise and provides transparency across the MLS.
Lead List Filtering: The tool helps agents vet lead lists from portals and lead generation platforms, enabling them to avoid wasting time on buyers who already have relationships with other agents. This protects agents from pursuing leads that aren't viable and maximizes their efficiency.
Buyer Representation Clarity: MLS Buyer Registry helps clarify buyer representation, reducing the potential for conflicts over who is entitled to work with a buyer and protecting agents from overlapping agreements.

"We're excited to bring this tool to market," said Art Carter, CEO of CRMLS. "The real estate industry often says, 'buyers are liars,' because agents frequently deal with buyers who may unintentionally mislead them about working with other agents. This tool gives agents the ability to verify buyer relationships and avoid conflicts, adding a layer of transparency and protection that hasn't existed before. By focusing on both compliance and agent utility, we're confident that the MLS Buyer Registry will quickly become an essential tool for the entire MLS ecosystem."

REcore's MLS Buyer Registry is available as a standalone tool or seamlessly integrates with REcenterhub, REcore's innovative dashboard, offering MLSs, AORs, and brokers flexibility in how they adopt it. Whether as an independent feature or part of REcenterhub, it's designed to evolve with the market.

Looking Ahead: A Broader Vision

The product is just the beginning of REcore's broader initiative to enhance buyer-related functions. Future updates will introduce more advanced features, such as buyer prospecting and sophisticated analytics, further positioning REcore as a leader in MLS technology.

About REcore

REcore is a leading provider of MLS SaaS and data licensing solutions, offering customizable technologies designed specifically for MLSs and Associations. Built by a team of seasoned MLS professionals, REcore's dynamic solutions address the unique challenges of the real estate industry, optimizing user experience, improving efficiency, and driving compliance.
For more, visit REcore.net.

SOURCE REcore