Tennessee is not only one of the most affordable states to live in but is also home to the great city of Nashville. When you think of Nashville, you might start tapping your toe to your favorite country music song, or you might celebrate Realtracs, the largest MLS in Tennessee with reach in Alabama, Georgia and Kentucky. Today, Realtracs serves over 18,000 Realtors and 1,700 real estate offices.
In a recent press release issued by CEO Stuart White, Realtracs announced their ambition to expand their services. WAV Group reached out to learn a bit more about the tactics that they plan to deploy.
Build a Strong Base
If you know anything about Realtracs, you know that they have developed a strong base of technology to serve their customers. They are among a handful of MLSs who have developed their own MLS system rather than subscribe to a SaaS product from CoreLogic, FBS, Black Knight, Rapattoni, Stratus, or Navica. Realtracs is also one of the founders of the MLS Grid – an advanced listing distribution system that reduces costs by normalizing data and agreements across many MLSs.
Most importantly, Realtracs has a history of being responsive and showing their ability to easily pivot when necessary to better serve their customers. They get it done. For example, when the brokers and agents wanted to cancel their ShowingTime service, Realtracs’ product managers and engineers built their own showing solution in four months. The Realtracs service reduced costs and delivers the value that their subscribers love.
Merge, Data Share, or Earn Customers?
Multiple Listing Service companies have been merging at the fastest pace in history. Today, there are fewer than half of the MLSs in America compared to 10 years ago. In markets where MLSs are not interested in merging, there are hundreds of data shares to open access to wider market data for Realtors and their clients. A third way to grow is through earning customers; this is the path that Realtracs is taking.
There are 11 other MLSs in Tennessee and are all Association owned like Realtracs. Stuart White would love to see a much smaller number to reduce the overlapping market disorder caused by brokers and agents needing to belong to so many and manage data across them all. The real need is for better MLS technology, and adding subscribers allows Realtracs, a recognized leading technology company in the Nashville area, to hire more engineers.
Chattanooga, Memphis, and Knoxville firms along with their agents are joining Realtracs and their satisfaction with the service is excellent. “We have great relationships with our neighbor MLSs in the state and we want to keep it that way,” said Stuart White. “Collaboration between MLSs should focus on the subscriber, making it easy for them to use the solution they need to serve their clients.”
After establishing statewide service in Tennessee, the expansion lane for Realtracs is down the Interstate 65 corridor. “We plan to earn and support every customer,” says White. “With an industry leading Net Promoter Score, we are focused on satisfaction though our 7 Customer Happiness Representatives.” As more firms across the state and region join Realtracs, the MLS will be adding more Customer Happiness Representatives and support staff to serve them locally.
Below is the original press release issued this month.
LARGEST REAL ESTATE MLS IN TENNESSEE TO EXPAND
Realtracs Focusing on Memphis and Chattanooga Markets, Others To Follow
NASHVILLE, Tenn. (Nov. 4, 2021) – Realtracs, the largest multiple listing service (MLS) in Tennessee, is expanding service to new markets across the state with the goal of becoming Tennessee’s first statewide MLS.
Realtracs is initially expanding to the Greater Memphis and Chattanooga areas, with future plans to enter other Tennessee, Alabama, Georgia and Kentucky markets. Realtracs currently has more than 18,000 users in over 1,700 real estate offices across Middle Tennessee and parts of Alabama, Georgia and Kentucky.
The expansion marks the first time Realtracs has entered markets with a competing MLS already in existence.
“We see opportunity for a more unified real estate marketplace across the state of Tennessee,” said Realtracs President and CEO Stuart White. “We’ve worked hard to ensure our MLS provides the best experience, and our topnotch customer service is what really sets us apart. We believe we will eventually be the MLS of choice for all agents and brokers in Tennessee.”
As defined by the National Association of Realtors®, an MLS is “a tool to help listing brokers find cooperative brokers working with buyers to help sell their clients’ homes.” Realtracs’ MLS was developed and is maintained in-house by a team of engineers and developers. It provides users with the ability to perform statewide property searches, create customized reports, manage clients, view analytics and retrieve public records.
Realtracs users have access to free CE-accredited training courses, both online and in-person, and live chat is available six days a week. In addition, all Realtracs broker participants are automatically enrolled in Realtracs Rewards, a first-of-its-kind program offered by an MLS nationwide, compensating brokers for every closed listing on the platform.
Realtracs is offering agents and brokers outside of Middle Tennessee a free trial of the MLS.
“We believe every broker and agent should have access to all MLS listings across Tennessee, including market and tax data,” said Will Long, vice president of Business Development for Realtracs. “We have our sights set on providing that wide-reaching access to our users so Tennessee’s real estate marketplace can operate most effectively.”
To learn more about Realtracs, visit www.realtracs.com.
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About Realtracs
Realtracs is the largest multiple listing service in Tennessee, with reach in Alabama, Georgia and Kentucky, serving more than 18,000 Realtors® in over 1,700 offices. Promoting and enhancing an efficient and harmonious real estate marketplace, Realtracs provides its users with innovative, cutting-edge tools, unparalleled personalized customer service and ongoing hands-on training, including CE-certified courses. To join Realtracs or learn more, visit www.realtracs.com.
CONTACT: Andrea Lindsey
alindsey@mpf.com | 615-259-4000
Congratulations Stuart. First web based MLS. Always an innovator.