MRCIE is a Commercial Information Exchange (CIE) hosted by Catylist for the Omaha Area Board of REALTORS® and the REALTORS® Association of Lincoln.
Midlands Regional CIE (www.MRCIE.org) is a new joint venture between the Lincoln MLS and the Omaha Area MLS, filling a niche for commercial brokers across the region; in Nebraska, and adjoining states. Both the Lincoln and Omaha-Area residential MLSs have been around since the mid-1950s, and the newly expanded commercial service seemed like a natural extension to better serve the marketplace.
Midlands Regional CIE provides an affordable, but powerful, listing system that is designed to eliminate the fragmentation of the commercial real estate market. Unlike an MLS, individual commercial practitioners can join regardless of their REALTOR® status; with or without other licensees in their firm.
Like the MLS, this new commercial system allows brokers to own and control their listing data. But unlike an MLS, Midlands Regional CIE does not contain offers of compensation. Commercial practitioners using the system will continue to compensate based on individual arrangements made with each other.
In addition, being part of the Lincoln–Omaha–Council Bluffs region, Midlands Regional CIE connects as part of a larger, national network. According to Derick Lewin, an Associate Broker at PJ Morgan Real Estate, “this is even more exciting, being able to automatically provide access to 40-plus markets, like San Antonio, New Orleans, Tampa Bay, and more.”
“Midlands Regional CIE will positively impact the region, resulting in more exposure for commercial properties in the Omaha–Lincoln region, locally reaching large numbers of agents not currently participating in other national platforms due primarily to cost,” said Lewin.
Unlike other commercial listing services, this one is affordable. Given time, Midlands Regional CIE could provide a permanent solution to the ever-rising costs of LoopNet and CoStar, but it needs participation from brokers and agents alike for that to occur. Lewin added, stating, “If Midlands Regional is adopted and utilized by many agents and brokerages quickly, the sooner it will become a viable alternative.”
Midlands Regional CIE operates on the Catylist platform, which was built from the ground-up for commercial real estate 15 years ago. This updated, proven and tested system receives rave reviews from commercial brokers around the nation, giving the Board of Directors a certain amount of confidence as to the effectiveness of the system.
Catylist President and CEO, Ron Marten is a CCIM designee himself, with a vision of market-regions tied into a national database. MRCIE will not only encompass Lincoln and Omaha, but will also serve greater Nebraska and contiguous states, to provide an affordable solution to the market-fragmentation currently facing the industry.
The Catylist system is very intuitive, making it easy for agents and customers to find your listings. It also provides mapping, GIS data-layers, statistical reports, and demographic reports. To top it off, the Catylist system has a sleek, easy-to-use design adaptable for smartphones and tablets.
The REALTOR® organization sees benefit in uniting commercial practitioners and other segments of the industry for long-term relevance and public policy issues. Working together all real estate professionals have much to gain.