A New eCommerce Model for MLS

by Victor Lund on October 9, 2012

Lauren Hansen, IRES CEOIRES MLS understands that the MLS cannot build software that is going to meet all of the needs of their subscribers. Rather, they embrace the rich development community that is flourishing in real estate industry today.

IRES recognizes that marketing is the greatest cost to offering software as a service. As such, IRES is launching the IRES Success Store. The Store will benefit IRES Subscribers by putting technology at their fingertips, and benefit software developers by providing them with a marketplace for their products.

IRES is a unique MLS, like their peers at The MLS, Trend MLS, NABOR and others, they develop and maintain their own MLS software rather than the traditional model of licensing software from an MLS vendor like CoreLogic, LPS, FBS, Solid Earth, Rapattoni, and others. They write code, which is an important distinction in the level of software acumen by this MLS. They have a lot of respect for software developers. Lauren Hansen, IRES CEO, believes that the IRES Success Store should not increase the costs of software purchased by their subscribers.

Although the primary mission of IRES is providing MLS services, their software development experience makes them sympathetic to the challenges that face software vendors who offer software as a service to real estate professionals. They honor the efforts of software developers who are trying to drive adoption and satisfaction of their product. As such, the company sought a solution for eCommerce that supported the vendors and their subscribers alike. In doing so, they developed a new eCommerce Model for MLS.

The IRES Model: Software vendors pay $600/year ($50 per month) slotting fee per product to be placed in the IRES Success Store.

The slotting fee model is the first of its kind in real estate. It avoids costly and time-consuming contract negotiations associated with reseller agreements and complex integrations. It is a simple construct that defers the MLS costs to providing and maintaining the store.

IRES selected RE Technology as a partner to build the IRES Success Store.

IRES MLS in northern Colorado provides MLS services to 8 Boards and Associations of REALTORS®.  . They also display listing data for Metro Denver and Colorado Springs areas through data-sharing efforts with Metrolist MLS and Pikes Peak MLS. They serve more than 5,000 real estate professionals.

If you would like to offer your product in the IRES Success store, please send an email to info@IRES-net.com for details

If you would like information about offering a Success Store in your MLS, contact Melissa McHone at RE Technology: Melissa@retechnology.com

 

{ 2 comments… read them below or add one }

Larry Lawfer October 9, 2012 at 1:29 pm

I am an IRES (international real estate specialist) I am confused by your use of this as well. IRES is a designation for an agent with properties all over the world. IRES MLS is something else, right?

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Victor Lund October 9, 2012 at 1:31 pm

Interesting Larry – IRES MLS is a company that provides MLS services to agents and brokers in Northern Colorado. Here is a link to their website: http://ires-net.com/

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