CONCORD, Calif., Feb. 5, 2016 /PRNewswire/ -- East Bay Regional Data, Inc.(EBRD), a regional REALTOR® association-owned real estate Multiple Listing Service (MLS) for brokers and agents in Alameda and Contra Costa counties, announces its shareholders have reached a tentative agreement to restructure the corporation's ownership. The restructuring will result in the Oakland/Berkeley Association of REALTORS® (OBAR) becoming the sole owner of EBRD. OBAR will also assume management responsibility of EBRD. The shareholder associations anticipate the restructure will be complete by September 30, 2016.
"EBRD shareholder associations are excited about the restructuring," says Troy Staten, EBRD board chairman. "It is in line with each association's strategic goals of ensuring their members have the best MLS services available. OBAR will have full control over EBRD to enhance services and offerings, and the other two shareholders (Delta Association of REALTORS® and Alameda Association of REALTORS®) will have opportunities to obtain the best MLS services for their members, either through EBRD or other MLSs providing service to real estate professionals in the East Bay."
The restructure will have no impact on current MLS services, and EBRD subscribers will continue to receive the reliable, high-quality service, support, and data through the Paragon platform to which they have become accustomed. In addition, the streamlined ownership structure and management will allow EBRD to better respond to industry changes with technological upgrades.
About East Bay Regional Data
East Bay Regional Data, Inc. (EBRD), founded in 1991, is one of the San Francisco East Bay's largest regional real estate Multiple Listing Services (MLS), providing approximately 3,000 real estate professionals with a centralized and online source for real estate data in Alameda and Contra Costa counties. Its current shareholders are the Oakland/Berkeley Association of REALTORS®, the Delta Association of REALTORS®, and the Alameda Association of REALTORS®. The organization is recognized by the CALIFORNIA ASSOCIATION OF REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®.
Visit: http://www.ebrdmls.com, or call (925) 363-2333.
SOURCE East Bay Regional Data, Inc.; Oakland/Berkeley Association of REALTORS®; Delta Association of REALTORS®; Alameda Association of REALTORS®