Industry Overview
MLS-PropTech is a subset of the residential real estate brokerage industry, comprising its interconnected ecosystem of MLSs, REALTOR® Associations, and PropTech companies/products.
Multiple Listing Services
A Multiple Listing Service (MLS) is an organization that operates a centralized database used by real estate brokers and agents to input detailed information about properties for sale. The MLS then distributes and syndicates this data, powering PropTech products and websites. This exchange of information creates an efficient marketplace of homes for sale, enables data-driven market insights, and facilitates cooperation among brokers by allowing them to see and market each other's listings.
Real Estate Associations
A real estate association is an organization that represents the interests of real estate professionals, providing members with political advocacy, training and education, technology tools and resources, and maintenance of standards and ethics.
PropTech Landscape
A PropTech (“Property Technology”) company leverages technology to innovate and improve the real estate industry. While PropTech covers a wide range of real estate related tools, we specifically focus our approach on the companies serving MLSs, Associations, and their members. We apply our product classifications accordingly.
MLS-PropTech by the Numbers
500+
MLSs
There are over 500 MLSs, a number quickly shrinking due to consolidation
1000+
Associations
There 1000 real estate Associations in the United States (and beyond)
350+
PropTech Products
There are over 200 PropTech companies with over 350 unique product offerings
A Tight-Knit Community
While MLS-PropTech is filled with intricacies that can be hard to grasp, it is the people who make the industry special. There are regular, must-attend industry events in the spring and fall each year, where you will find a very collaborative and welcoming environment filled with professionals looking to create a better future for real estate.
About Modern.tech
Modern.tech is a multi-disciplined technology team that builds highly-functional software products for businesses with complex needs.