Remine, a full MLS solution, has been acquired by MLS Technology Holdings, LLC, an MLS-driven collaborative including ACTRIS MLS in Austin, Tx.; First Multiple Listing Service in Atlanta; Heartland MLS in Kansas City; and Miami Realtors, as well as continued investment by the Ayrshire Group in Calgary. In a news release, the company says the “collaboration was born out of a shared desire to shape the future of the real estate industry through direct investment in the leading MLS technology company of tomorrow.”
The Ayrshire Group is a private equity firm with over $5.3 billion of capital under management.
With its Canadian head office based in Toronto, “Remine Canada will continue to serve Realtors and MLS operations across North America with its experienced team of professionals who understand local, provincial and national markets,” the company says.
The Remine team in Toronto will continue its focus on Remine Docs+, a full-featured forms, transaction management and electronic signature platform. The Canadian team also spearheads Remine’s work with PropertyFlow, a joint venture with FCT announced in December 2020.
“PropertyFlow will offer the Remine Canada platform a critical next step in supporting the Canadian real estate industry’s movement toward a more data-driven future,” the company says. “The platform will provide Realtors, brokers and MLS boards with access to MLS and broad public record data in a single consolidated view. Following board integration in the platform, Remine will allow Realtors to see on- and off-market properties in one place, while connecting in real-time with potential buyers or sellers. Remine’s Canada platform already provides consumers with the ability to view property listings and transaction details through a user-friendly digital hub.”
Emily Chenevert, chair for MLS Technology Holdings and CEO of the Austin Board of Realtors and ACTRIS MLS, says, “MLSs have taken a backseat to advancing technology that serves our subscribers and consumers for far too long. At a time when consolidation is occurring across the industry, this investment ensures Remine remains with a team that’s dedicated to keeping brokers and agents empowered in the real estate transaction, for the benefit of the consumers they serve.”
Remine’s services cover much of the real estate market, including nearly 60 MLS markets representing more than 1.2 million real estate professionals across North America.
Remine will remain an independent company under the new ownership. Mark Schacknies has resigned from his role as CEO of Remine and Liz Sturrock has been named interim CEO while a national search for a permanent CEO is underway. As chief of MLS and Innovation at Miami Realtors, Sturrock is a proven leader with over 20 years of experience in both the real estate and IT industries, the company says.
“Remine customers are in great hands with Remine’s strong and capable staff who have paved the way to their success thus far. We’re building upon that success by bringing a peer’s perspective to the table,” says Sturrock. “This move opens the door for MLSs to have a direct voice in determining how best to serve agents, brokers and consumers.”
Co-founders Jonathan Spinetto and Leo Pareja have assumed the roles of chief of staff operations and chief of strategy, respectively. Along with other management team
members, Spinetto and Pareja will help ensure a smooth transition and uninterrupted service for Remine customers, the company says.
“Remine was created by top-producing agents who were frustrated by a lack of intelligent technology solutions in the marketplace,” says Pareja. “This new chapter for Remine is a return to our roots and a unique opportunity to build upon a core technology that will pave the way for MLSs of the future.”
The company plans to launch an MLS Advisory Group to provide direct input on the future of the MLS and how Remine “can continue to anticipate and alleviate pain points in the homebuying, selling and renting process,” the company says.