Austin, TX -- If you are a REALTOR® in any of the 25 markets listed below, you probably know that your local MLS has partnered with BDX to deliver much needed access to a much wider selection of new homes inventory, including floorplans.
If your MLS has not partnered with BDX and you are located in an active new homes market, there is a good chance your MLS is - or will be - talking to BDX soon.
With the recent additions of MLS partners in Miami, Tampa/Orlando, Bakersfield, Staten Island and Palm Beach, Builders Digital Experience, Inc. (BDX) continues to cultivate the industry's initiative to make new construction inventory more accessible to brokers and agents.
"With our partners in this effort, nearly 400,000 REALTORS®have direct access to New Home Source Professional through their MLS today," said Tim Costello, President and CEO of BDX. "More than half of all home shoppers consider new construction, so it's imperative that we continue this industry collaboration to help agents and brokers serve their clients."
To date, 25 MLSs across the country have partnered with Austin-based BDX to give members access to the New Home Source Professional platform, which the MIAMI Association of REALTORS®called "the MLS for new homes."
The organizations are working to build mutually-beneficial relationships between U.S. builders and brokers, who missed out on approximately $2.8 billion in potential new home commissions in 2014.
The group includes:
- MLSListings in the Greater San Francisco Bay Area
- Greater Las Vegas Association of REALTORS®(GLVAR)
- San Diego County Regional Multiple Listing Service (Sandicor)
- Tucson Association of REALTORS®MLS (TAR/MLS)
- Regional MLS (RMLS) in Portland, OR
- Austin Board of REALTORS®(ABOR)
- Jupiter Tequesta Hobe Sound Association of REALTORS®(JTHS MLS) in Jupiter, FL
- Northeast Florida Multiple Listing Service (RealtyWeb) in Jacksonville
- California Regional Multiple Listing Service (CRMLS) in Los Angeles and Orange County
- East Bay Regional Data Inc. (EBRDI) in Concord, CA
- Contra Costa Association of REALTORS®(CCAR) in Walnut Creek, CA
- Bay East Association of REALTORS®in Pleasanton, CA
- Midwest Real Estate Data (MRED) in Chicago, IL
- Information and Real Estate Services (IRES), in Northern Colorado
- Greater Albuquerque Association of REALTORS®(GAAR)
- Metropolitan Regional Information Systems (MRIS) in the Washington, DC and Baltimore areas
- Montgomery Area Association of REALTORS®(MAAR)
- Northern Ohio Regional Multiple Listing Service (NORMLS) in Cleveland
- Memphis Area Association of REALTORS®(MAAR)
- REALTORS®Association of the Palm Beaches (RAPB/BeachesMLS)
- MIAMI Association of REALTORS® • Staten Island Board of REALTORS®(SIBOR)
- My Regional Florida MLS (MFRMLS) in the Tampa, St. Petersburg and Orlando areas
- Bakersfield Association of REALTORS®
New construction data differs from resale data in both structure and search mechanisms, making it difficult to put all builder inventory into an MLS. Brokers and agents often have to turn to multiple, disparate sources to cull information on new homes in their market. New Home Source Professional includes daily-updated data directly from builders and was built specifically to allow brokers and agents to research inventory (including plans), communicate with builders, share listings with clients and learn how to sell new construction homes.
As stated above, BDX does in fact operate similarly to an MLS: It is owned by the building industry, directed by a board, and charged with aggregating and distributing all new construction data. In 2011, the builders tasked BDX with improving the relationships with brokers and agents.
Together with the Arizona Regional MLS in Phoenix, BDX built the first integrated version of New Home Source Professional in 2012. Each MLS partner contributes to the development of the platform, which is scheduled to undergo a large-scale update in the first quarter of 2016.
BDX is the leading provider of digital marketing and sales solutions for home builders. In addition to operating www.NewHomeSourceProfessional.com -- the most accurate and comprehensive new home research site for real estate professionals -- BDX serves as the preferred provider of new construction data for Realtor.com and the National Association of REALTORS®.
BDX also offers website development, interactive floor plans, photo realistic renderings, and digital sales solutions to builders and real estate developers. For more information, visit the BDX website.
These partnerships signal an end to builder - Realtor issues and the beginning of a stable, consistent way to work together. Participating home builders and condominium developers are committing to actively work with Realtors as a matter of business philosophy, not so much as a function of the market.
Now that MLSs can now offer a wide variety of new homes inventory and plans and more, look for broker/owners to seek new homes training for their agents and for agents to want to take the training. Especially, when they learn that they can search resale and new homes inventory literally side by side in one sitting.