This Listing Bits episode is now available on your favorite podcast player!

Overview

Greg Robertson sits down with industry veteran Amy Gorce of REdistribute to clarify what REdistribute actually does, how it differs from display-focused data platforms, and why MLSs should care about the exploding gray-market use of MLS data. Amy breaks down the institutional-buyer use cases, explains how gray-market pipelines emerged, and outlines why MLS participation directly impacts valuation accuracy, AVMs, risk modeling, and overall market health.

Key Takeaways • REdistribute is not a display vendor. Their data is used solely for institutional-grade analytics, AVMs, risk modeling, and portfolio management—never for consumer-facing listing display. • Owned by MLSs, built for MLSs. The operating agreement limits eligible purchasers and prevents MLSs or brokers from using the data for competitive display products. • The gray market is real and accelerating. Companies scrape, partner with brokers, or purchase unclear data sources to fuel AVMs and risk tools—often without MLS compensation. REdistribute is actively converting gray-market users. • AI is making the problem bigger. Scraping tools, automated ingestion, and LLM training pipelines are proliferating. REdistribute is building an MCP server to support AI-specific use cases in a controlled and compliant way. • Coverage, not demand, is the bottleneck. Institutional buyers are ready, but MLS participation is still below critical mass (~55–60% coverage). More MLSs joining closes the gap and increases revenue potential. • Economics vary by use case. AVM licensing generates significantly higher value than simple match-and-append use cases—creating real opportunities for meaningful revenue distribution back to MLSs and brokers. • Joining is simple. MLSs sign a license agreement and can be onboarded in roughly two weeks, with quarterly revenue distributions.

Links • The Market Value of Listing Data—and the Cost of the Grey Market - White Paper

Contact

Amy Gorce Allison Duggins

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Production and editing services by: Sunbound Studios