REsides’ First Dividend Represents Significant Milestone For MLSs and the Real Estate Industry
HILTON HEAD ISLAND, SC (November 7, 2023) – REsides, an independent borderless MLS with a unique equity-ownership model, today announced its Board of Directors has declared an annual cash dividend of $2.00 per share on Class A and Class B shares and $1.00 per share on Class C shares to shareholders as of the record date of September 30, 2023. The dividend will be provided to shareholders in November. An open offering of REsides shares is also forthcoming and will be announced in the near future.
This is the first dividend to be paid to shareholders and represents a remarkable milestone for the Company since launching its unique forward-looking MLS model. “We are pleased that the Board has approved the cash dividend as well as opening an offering to enable more participation as we grow the corporation,” said Colette Stevenson, CEO of REsides. “Today marks a day of celebration for our shareholders in the midst of the current economic downturn, industry-wide uncertainty and expected changes in association-owned MLSs,” she said. “We look forward to celebrating this achievement with our shareholders.”
The REsides MLS model provides a smart diversification strategy. Brokers can differentiate and expand their reach for their agents along with other industry players. This ultimately moves MLS forward for the benefit of the consumers in their markets while potentially growing financially – even in the midst of soft market conditions.
Unlike most MLSs, brokers do not need to be National Association of Realtor members to participate in the REsides model. It also allows MLSs to harness the power of the data and come together and unite for the good of the industry in new, different and financially meaningful ways.
“There is a lot of change in the marketplace, which is causing brokers to seek new and different ways of doing business,” said Stevenson. “Now, more than ever, it’s time to shift the focus on recognizing and rewarding brokers for their valuable listing data and provide broader access to listings,” she said. “Our model also improves the lives of consumers by accelerating the collaboration of real estate technology, driven by accurate and comprehensive information. In the end, bringing together credible, reliable and professional data resources allows us to align interests, work in cooperation and advance the industry with a giant step forward for the benefit of all participants,” Stevenson added.
Stevenson has been on the forefront of leading change in MLS for years. She attends conferences, speaks about dramatic change affecting MLSs and is committed to building the MLS of the future – an MLS without Boundaries – that empowers and compensates brokers for their valuable listing data.
