February 26, 2010

After many years of discussion and two solid years of negotiations I am pleased to announce on behalf of the Boards of Directors for the Vermont Real Estate Information Network (VREIN) and the Northwestern Vermont Board of REALTORS® (NVBR) that the organizations have signed a purchase agreement with the Northern New England Real Estate Network (NNEREN) to purchase the Multiple Listing Service (MLS) assets of VREIN. 

This major acquisition will result in a statewide MLS option for Vermont real estate professionals.  VREIN and NNEREN have a combination of almost 9,000 users and 30,000 listings. 

Integration of the two MLS systems is expected to close at the end of April 2010, at which time VREIN's 1,100 non-NNEREN members are scheduled to join NNEREN.  The expanded MLS is expected to provide all members with efficiencies of a regional MLS with the elimination of duplicate databases, dues payments and business rules for those who currently use two systems. 
 
While we are excited for the opportunities that this merger brings to our members there were some difficult business decisions that needed to be made by the NVBR and VREIN Boards of Directors.  With the loss of the MLS asset, reductions need to be made to the VREIN and NVBR operations.  As a result, the MLS staff positions are being eliminated over the next few months either through attrition or layoffs.  All MLS responsibilities will be administered by NNEREN after the transition.  NVBR will continue to have staff located at the board office in Williston.
 
We will continue to bring you updates as we transition to a statewide MLS in the second quarter.  Please be sure to follow the VREIN e-news for important changes and enhancements.  Critical information that requires immediate action by members will also be posted on the VREIN Bulletin Board.

Kathleen A. Sweeten, RCE