In support of MLS consolidation and data sharing, NAR offers the following grant opportunities for REALTOR® associations wanting to pursue these important discussions about consolidation and data sharing. All grants are available for activities and expenses incurred in 2020.
- Exploration Grant (up to $5,000): covers the costs of initial meeting(s) and communications to explore a potential consolidation among two or more MLSs, inclusive of travel by respective MLS leadership and staff. Funds will be distributed after all cost considerations and expenses have been incurred. A list of expenses and a report detailing the outcome of meeting(s) are due within 60 days of grant approval, and no later than December 31, 2020.
- Educational Grant (up to $5,000): covers the costs of travel and expenses for speaker and facility charges for educational or “town hall” events for participants, subscribers, and other interested parties to discuss and learn about the benefits of MLS consolidation. Costs to be reimbursed upon submission of expenses and a summary of the event within 90 days of grant approval, and no later than December 31, 2020.
- Consolidation Plan Grant (up to $30,000): covers the cost of creating and executing a formal consolidation plan. Will need to include budget pro formas and engagement letter with a facilitator. Engagement letter required within 60 days of grant approval. Funding will be distributed after receipt of the consolidation plan and invoice from facilitator and other expenses within 120 days, and no later than December 31, 2020.
Each grant request will be reviewed and rated to determine its approval. Funds are limited and not all requests or expenses will be approved.
The MLS Consolidation Grant Application must be completed with all required information.
When filling out the application, keep in mind the guidelines for grant recipients:
- MLSs must be compliant with current RESO standards and all other mandatory MLS policy requirements.
- When providing details about a Consolidation Plan explain:
- What led you to this point?
- What has taken place to date?
- How many members will be impacted?
- What technology or vendor(s) are currently being used?
- The relationship and interaction among the MLSs involved.
- What is your contingency plan if your MLS does not receive grant money?
In reviewing the applications, the following will be taken into account:
- Which of the three grants are being requested? The maximum allowable amount is $40,000 total for a consolidation of two of more MLSs.
- What will be the impact on the local market?
- What are the benefits to local brokers and consumers?
- What is the likelihood of a successful consolidation?
Note: The grant funds are meant to be cost covering – you will be asked to put the full amount of grant funds applied for in the application (maximum of $40,000 if applying for all three grants).