In a significant move to reshape India’s real estate landscape, UCO, a subsidiary of Stellar MLS, has announced a partnership with the National Association of REALTORS® (NAR) India. This collaboration aims to establish a Multiple Listing Service (MLS) across the country, a groundbreaking initiative expected to drive modernization and transparency within India’s burgeoning real estate sector.
NAR India, founded in 2008, is a non-profit organisation dedicated to the professional development of real estate agents and promoting high standards in the industry. The collaboration with UCO marks a historic step in the global expansion of Stellar MLS, the fastest-growing MLS provider in the world. The MLS platform, which is set to revolutionise property listings and transactions in India, is already in place in several countries, with Canada being the only other nation alongside India to hold the prestigious NAR designation.
Under the new partnership, UCO will advise NAR India on a variety of aspects, including the technology behind MLS, business strategy, organisational setup, vendor management, and implementation. UCO’s extensive experience in MLS consulting is seen as crucial to the successful deployment of the platform in India, with plans to cater to regional differences and create a scalable, sustainable system.
“We are thrilled to partner with NAR India, an esteemed organisation that shares our values of trust, customer service, and data integrity,” said Merri Jo Cowen, CEO of UCO and Stellar MLS. “This is a landmark nationwide initiative, and we’re excited to bring our MLS expertise to India, helping to foster collaboration and efficiency within the market.”
This partnership comes at a time when India’s real estate market is seeing a surge in influence from Non-Resident Indians (NRIs), many of whom are eager to invest in properties back home while also shaping the market with their investment power. Florida, home to a large number of NRIs, has benefitted from substantial real estate investments from India, amounting to $5.4 billion in 2020 alone. The collaboration between UCO and NAR India is expected to open up referral opportunities, allowing Indian properties to reach a global audience, particularly those living abroad.
“This partnership marks a pivotal moment for the Indian real estate industry,” said Amit Chopra, President of NAR India. “UCO’s MLS expertise will bring much-needed transparency, trust, and professionalism to our market.”
The collaboration also aims to help Indian REALTORS® connect with international buyers and investors, a point emphasised by Tarun Bhatia, Vice Chairman of NAR India. “This will enable Indian professionals to showcase properties to a global audience, expanding their reach and fostering stronger international connections,” Bhatia said.
The partnership will see UCO further expand its global presence, with its ongoing work in Europe and the Middle East, as well as new ventures in South Asia. UCO’s involvement with other global organisations such as the European Association of Real Estate Professions (CEPI) and the International Real Estate Federation (FIABCI) demonstrates its commitment to transforming global real estate practices.
Dr. Mathew Kallumadil, Vice President of Global Markets at UCO, stressed the importance of India’s digital infrastructure in the success of the MLS system. “India’s highly digitised society makes it an ideal environment for implementing a robust MLS framework,” he said, highlighting the need for a system that caters to the country’s diverse regions and languages.
The launch of MLS in India represents a major leap forward in the evolution of the country’s real estate industry, promising a more transparent, efficient, and globally connected marketplace. For information about UCO and Stellar MLS, visit stellarmls.com/global.
