CRMLS Leaders Launch Venture MLS, the First VC Firm Created by a Multiple Listing Service
CHINO HILLS, CALIFORNIA – April 27, 2022 — Leaders from California Regional MLS, the world’s largest real estate multiple listing service, have officially unveiled the new venture capital firm Venture MLS. Its first project, Venture MLS Fund I, will back seed and early-stage real estate technology companies, and is now inviting participation from groups and individual stakeholders within the organized real estate industry.
Venture MLS seeks companies that can leverage its managers’ unmatched experience, expertise, and connections within the world of real estate Associations, Boards, and MLS organizations. Beyond the individual guidance of fund managers Art Carter, Michael Scattaglia, and Randy Rector, Venture MLS will offer portfolio companies access to one of the largest pre-built audiences in residential real estate. With over 110,000 real estate professional subscribers already using CRMLS, portfolio companies can avoid the trouble and expense of large-scale customer acquisition. They will also gain access to expert guidance from CRMLS staff, including legal, business development, and marketing services.
In the United States, over 1.5 million people work as real estate practitioners, with another estimated 1.5 million holding active real estate licenses. Nearly all real estate professionals use a local multiple listing service to obtain access to accurate, up-to-date information about property listings. However, due to minimal investment from the small group of companies that provide MLS software, the technology that these millions of people rely on to power their businesses has stagnated.
Real estate agents, brokers, appraisers, and office staff have demanded improvements to MLS technology for decades. Thanks to their experience leading CRMLS and other major real estate organizations, the managers of Venture MLS understand these demands better than anyone. The people who use MLS technology want higher-quality products, more control over their product choices, and better guarantees that the tools they use will continue to work in their interests, rather than the cross purposes of outside companies.
Venture MLS will work to give real estate professionals a voice. Through strategic investment, it will revolutionize the quality, utility, and variety of products available in the real estate technology marketplace. Returns on investment will come not only from financial profit, but also from major improvements in the enterprise technology choices available to industry stakeholders taking part in the fund.
About California Regional Multiple Listing Service (CRMLS)
California Regional MLS is the nation’s largest and most recognized subscriber-based MLS, dedicated to servicing more than 110,000 real estate professionals from dozens of Associations, Boards, and MLS organizations. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS, visit www.crmls.org.