T
he data and analytics platform Remine, which was acquired by four leading MLSs in 2021 for $53.5 million, is now being sold through an "Assignment for the Benefit of Creditors" (ABC) process. This move comes after the company failed to attract new customers and lost momentum amidst industry shifts. Remine's assets are being offered for sale as a way to provide a quick and discreet means of selling a distressed business.

    The company, which was never profitable, owes $11.2 million to investors. When it was acquired in 2021, Remine served almost 60 MLS markets representing over 1.2 million real estate professionals. However, its reach has decreased to 40 markets with around 600,000 real estate professionals as of March 2025.

    The ABC filing explains that the original partnership aimed to shape the future of the real estate industry through direct investment in Remine's technology. However, this vision did not pan out as expected. The four MLSs involved – ACTRIS MLS (now Unlock), First Multiple Listing Service, Heartland MLS, and MIAMI REALTORS – formed a joint venture to acquire Remine.

    Unlock has stated that the ABC process is the most efficient and responsible path forward for Remine, allowing for an orderly transition with minimal disruption to customers. The organization also emphasized its commitment to bold decision-making in the best interest of subscribers and the marketplace they serve.