First American MLS Solutions, which focuses on multiple listing service technology for the real estate industry, has acquired Maryland Management Systems, or MMSI, a provider of management software to Realtor associations, the companies said today.
The two did not disclose terms of the transaction, which closed Jan. 3.
First American will integrate MMSI’s The Director association management software with MLXchange and TEMPO, which are its MLS products that currently serve nearly half of all real estate professionals throughout the United States and Canada, the company said.
First American will offer The Director to non-client real estate associations in addition to those currently using MLXchange and TEMPO, the company said. The Director streamlines the operations of real estate associations with management tools including automated billing, accounts receivable, full accounting functionality, and information on committee meetings and class schedules.
First American MLS Solutions is a division of First American Residential Group whose formation was announced in December.
“Our goal is to create new efficiencies for the real estate professional by tightly integrating The Director with our current programs and Realtor association systems,” said Bryan Foreman, president of First American MLS Solutions.
“The addition of MMSI is another step in First American’s strategy to create a truly comprehensive system that reduces the cost and time associated with residential real estate transactions,” Foreman said.
MMSI, which will continue to be managed by founder Rich Richburg, will be an operating unit of First American MLS Solutions. MMSI will maintain its headquarters near Annapolis, Md.
“Our team has worked hard to grow and mature The Director technology and MMSI’s business model,” said Richburg. “First American is a logical fit for our product, and both MMSI’s and First American MLS Solutions’ customers will benefit from the fully integrated and customizable real estate association management system we now offer.”
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