REsides’ First Dividend Represents Significant Milestone For MLSs and the Real Estate Industry
HILTON HEAD ISLAND, S.C. , Nov. 7, 2023 /PRNewswire/ — 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. An open offering of REsides shares is also forthcoming and will be announced in the near future.
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This is the first dividend for REsides shareholders and represents a remarkable milestone for the Company since launching its revolutionary forward-looking MLS model. “We’re pleased that the Board approved the cash dividend and opening an offering to enable more participation as we grow the corporation,” said Colette Stevenson, REsides CEO. “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, partners and employees.”
The REsides MLS model provides a smart diversification strategy. Brokers can differentiate themselves and expand their reach for their agents and other industry players. This ultimately moves MLS forward for the benefit of the consumers in their marketplaces while potentially growing financially – even in soft market conditions.
Unlike most MLSs, brokers don’t need to be National Association of Realtor members to participate in REsides. It also allows MLSs to harness the power of data and come together for the good of the industry in new, different and financially meaningful ways.
“There’s 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,” Stevenson added.
REsides provides brokers and MLS executives with a unique equity-ownership model, allowing them to harness the value of their listing data. Led by a team of visionary experts, REsides continues to push boundaries and reshape the real estate landscape. Read more at www.resides.io
Originally published at https://www.prnewswire.com/news-releases/resides-declares-2023-cash-dividend-to-shareholders-301980218.html
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