VANCOUVER, BC--(Marketwired - February 22, 2017) - RESAAS Services Inc. (CSE: RSS) (OTCQX: RSASF), a cloud-based social business platform built for licensed real estate professionals, announces the introduction of groundbreaking new functionality to change the way REALTORS® from different real estate associations access and communicate about listings before they appear on the MLS.
For the first time, the 7,500 members within the San Francisco Association of REALTORS® (SFAR) and East Bay Regional Data (EBRD), will have shared access to homes for sale that are not listed on any Multiple Listing Service. Pursuant to a reciprocal sharing agreement dated February 13, 2017, SFAR and EBRD members can promote upcoming MLS listings that are being readied for the market as well as private non-MLS listings on their own network. The agreement provides that SFAR and EBRD will grant each other the right to access certain pre-market content for an indefinite term so long as both organizations continue to use RESAAS' RealTimeMLS™ solution.
"This agreement to share pre-market listing data with our neighbors who use RealTimeMLS™ will ensure that we do not end up with many fractured markets," said Walt Baczkowski, CEO at San Francisco Association of REALTORS®. "Agents in the greater San Francisco Bay area expect access to data without artificial barriers and this is an important step."
"We were excited to bring RealTimeMLS™ to our subscribers in January allowing them to market coming soon listings," said DaVina Lara, CEO at Oakland Berkley Association of REALTORS®. "The movement to embrace "coming soon" status has become a topic of conversation on a state level and with OBAR/EBRD being one of the first to welcome pre-market listings, RealTimeMLS™ is the perfect tool. We are excited to be working with our neighbors across the bay with our newly signed agreement."
Many cities across the United States are experiencing increasing numbers of listings selling before they are listed on the MLS. Introduced in late 2015, RealTimeMLS™, RESAAS' flagship solution for MLS and real estate associations, addresses this issue and puts quality data back into the hands of real estate agents and the MLS itself. In addition, RealTimeMLS™ provides a secure solution to pre-market listing issues such as limited exposure, and helps mitigate potential fair housing violations.
"The channels agents had access to previously were inefficient and unbalanced, allowing RESAAS' technology to provide a solution that real estate associations are calling out for," said Tom Rossiter, President at RESAAS. "Associations need to meet the needs of a changing marketplace and need to keep innovating. RealTimeMLS™ provides a more comprehensive view of regional housing inventory, including the ability to compare current for-sale properties against what will soon be available. We are proud to support the first two associations to take this step forward together, SFAR and EBRD, and provide the foundation for an agent-only, nationwide pre-market listing service."
About RESAAS Services Inc.
RESAAS is a cloud-based social business platform built for licensed real estate professionals. RESAAS brings proprietary real-time technology into the business of real estate and transforms how real estate listing data flows between real estate agents, brokers, associations, and MLSs.
About the San Francisco Association of REALTORS®
The San Francisco Association of REALTORS® (SFAR) is part of a network of local and state associations of REALTORS®, all of which are affiliated with, and chartered by, the National Association of REALTORS®. SFAR provides services to REALTORS® doing business in San Francisco and the Northern Peninsula. The Association operates the SFAR multiple listing service (SFARMLS) in addition to providing services for members including: publications, education programs and legislative representation. For more information, visit http://my.sfrealtors.com/.
About East Bay Regional Data
East Bay Regional Data was incorporated in 1991 as a means to provide brokers and agents with a centralized and online source for real estate data. Today, East Bay Regional Data Inc. (EBRDI) is the region's largest MLS cooperative working to provide its subscribers the very best in MLS service. EBRDI has been a leader in bringing greater resources and real estate data to its participants and subscribers. In addition to providing complete access to listings in Alameda and Contra Costa Counties, participants and subscribers also have access to listings in 22 counties in Northern California.
The CSE has not reviewed, approved or disapproved the content of this press release.
This press release and the RESAAS website referenced herein contain forward-looking information within the meaning of Canadian securities legislation, including but not limited to statements regarding the company's technology platform. The forward-looking information is based on certain key expectations and assumptions made by RESAAS' management, including future plans for the design and development of the company's technology platform.
Forward-looking information is subject to risks, uncertainties and other factors, many of which are outside of the company's control, that could cause actual results to differ materially from the results discussed in the forward-looking information. Although RESAAS believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on such information because RESAAS can give no assurance that it will prove to be correct. The forward-looking information contained in this press release is made as of the date of this press release. RESAAS disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.