The MLS is Growing, But Not the Way You Might Think
The structure of organized real estate in the U.S. is undergoing a quiet but meaningful transformation, and for agents and brokers navigating multiple markets, the implications are real.
According to T3 Sixty’s 2025 Organized Real Estate report, the number of MLS subscribers now exceeds Realtor membership by a record 25%. Just six years ago, that gap was 13%. This divergence is being driven largely by the rise of flexible access models—MLSs increasingly allowing licensed agents who aren’t Realtors to subscribe directly. T3 Sixty estimates that 57% of MLS subscribers in the U.S. are already part of MLSs open to non-Realtors, and that share could exceed 66% by the end of 2026.
We’re also seeing more agents and brokerages hold memberships in multiple MLSs to service broader geographies, further fueling subscriber growth. This shift reflects both operational necessity and strategic adaptation to serve today’s mobile buyer and digitally-connected seller.
Meanwhile, consolidation continues reshaping the landscape. The number of MLSs dropped by nearly 9% from 2020 to 2025, while the average MLS size grew over 24%. A third of all MLS subscribers now belong to just 10 organizations. Bright MLS tops the list with over 101,000 subscribers—the first time in years there’s been a change at the top.
Realtor associations are consolidating too, albeit more slowly. There are now 1,014 local associations, down 6.6% from 2020, while average membership has grown about 15%. The 10 largest local Realtor associations now account for over 19% of national membership.
One trend worth watching is the South’s continued population-driven growth. While most regions lost subscribers year over year, the South Atlantic region posted a small gain (+0.4%), bucking the trend. Bright MLS’s presence in the Mid-Atlantic and Southern markets may be benefiting from this migration—Census data shows the South added 1.8 million residents in 2024 alone, making it the fastest-growing region in the country.
As Clint Skutchan of T3 Sixty put it, “The data reflects an industry in steady structural transition… evolving toward greater flexibility, expanded participation, and more scalable operations.”
That evolution raises practical questions for agents and brokers: Is your market coverage broad enough? Are you subscribing smartly, or overpaying across multiple MLSs? Is your association providing value beyond access?
The ground is shifting, and it’s happening quietly—unless you’re paying attention.