CRMLS to Take "Extraordinary Step" With Direct Investments in Technology Companies

CHINO HILLS, Calif., Dec. 8, 2021 /PRNewswire/ -- Today, California Regional Multiple Listing Service (CRMLS), the nation's largest and most recognized subscriber-based MLS, announces its creation of a venture fund made as a hedge against changing market forces in its industry.

As the business of organized real estate has experienced intense disruption in recent years, CRMLS views new technology investments as a necessary and beneficial reality for the 110,000+ real estate professionals it serves, their clients, and the industry as a whole. The new fund will enable investment into technology companies that align with CRMLS's vision for the future, giving agents and brokers new choices in state-of-the-art products and services.

"We want a world where MLS technology empowers real estate consumers and professionals in their property transactions," said CRMLS CEO Art Carter. "People who buy and sell real property need, want, and benefit from the services of the hard-working agents, brokers, and others who work in this industry. The multiple listing service is the best way anyone has ever found to create a stable, high-functioning, and equitable real estate marketplace."

Carter went on to detail how the new fund will enable CRMLS to realize this vision. "The past two years have significantly transformed the way we do business in the technology landscape. Real estate professionals expect their MLS to be proactive with the technical services their business relies upon, and for this reason, we are taking an extraordinary step to ensure we deliver on those needs," said Carter.

"We need to act upon the standards expected from us, not just talk about them," Carter continued.

As a first step, the CRMLS fund has invested in Perchwell. A premier technology platform for real estate, Perchwell provides an impressive technology stack and a vision that aligns closely with the CRMLS leadership team. CRMLS will be offering Perchwell's sleek platform as a front-end product option.

"We are thrilled to partner with CRMLS," said Brendan Fairbanks, founder and CEO of Perchwell. "Our teams share the same vision of real estate technology's future, and we are very excited to work together to empower agents with innovative solutions for building their businesses in today's rapidly evolving market."

The CRMLS Board of Directors has approved for CRMLS's participating Associations and Boards of REALTORS® to take part in the investment through the CRMLS fund. CRMLS also invites other likeminded MLS organizations to participate in this unique offering.

"As 2022 approaches, CRMLS is intensely focused on making business moves that will significantly impact the agents and brokers that rely on us. The time to stand still and wait has long passed, and we welcome others in the industry that stand by this vision of action to participate with us!" said Carter.

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 40 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.

Media Contact: [email protected]

SOURCE California Regional MLS

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