The largest multiple listing service in New York is growing again.
OneKey MLS agreed to acquire Mid-Hudson MLS in Dutchess County for an undisclosed price, Newsday reported. The deal is expected to be finalized this month.
Once the purchase closes, the Farmingdale-based OneKey will have nearly 50,000 subscribers. Mid-Hudson MLS serves 1,400 real estate agents across 350 offices in the Hudson Valley.
OneKey expects the agreement to benefit its consumer-facing website and to increase the volume of properties opening up to buyers and agents.
OneKey launched its consumer-facing portal in 2020, taking on StreetEasy and Zillow in the state. It offers information about each listing, including neighborhood data translated into 20-plus languages and details about recently sold properties nearby, making the aggregation of accurate, vast data essential to the website’s functionality.
The acquisition won’t trigger waves of Long Island agents showing homes in the Hudson Valley, or vice versa. But it is expected to increase the opportunity for referrals — and referral fees — between the New York City-adjacent areas.
Long Islanders may be increasingly interested in Hudson Valley homes as demand continues to outpace supply on the peninsula (though limited inventory is an issue virtually everywhere these days, Long Island’s market looks to remain tight for the indefinite future).
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Brian Engels, executive officer of Mid-Hudson MLS, told Newsday it was an ideal time to be acquired because of a need to update the MLS’ operating system. The acquisition should also streamline access to listing data for agents in the region.
At a time when the future of MLSs and their affiliations with the National Association of Realtors is murky, OneKey is emerging as the dominant MLS in New York. It formed in 2018 when Hudson Gateway Association of Realtors merged with the Long Island Board of Realtors. Two years later, it merged with the Bronx-Manhattan North Association of Realtors.
— Holden Walter-Warner