Key facts
- ORE requires members to enter all listings within one business day of signing an agreement.
- Public listings in ORE are delivered to MLSs, portals, appraisers, and data services simultaneously.
- ORE is currently company-owned and run by a handful of the largest brokerages.
- A private listing in ORE's 'participant view' is only visible to agents at participating brokerages.
Four major US real estate brokerages—Keller Williams, AGNT, HomeServices of America, and Real REMAX Group—launched Open Real Estate (ORE) on October 26, aiming to counter the trend of brokerages withholding listings from the broader market. The initiative seeks to create a more cooperative and transparent industry by ensuring all listings are accessible to participating members and public data services simultaneously. ORE's success hinges on its ability to attract widespread membership and establish a governance structure that prevents any single brokerage from dominating the system, drawing parallels to the Visa credit card model where multiple banks jointly own the network.