RETECHNOLOGY PREMIUM MARKETPLACE RELATED PRODUCTS | WEBINARS | SPECIAL OFFERS
You are viewing our site as an Agent, Switch Your View:
Agent | Broker Reset Filters to Default Back to List
Due to the ongoing situation with Covid-19, we are offering 3 months free on the agent monthly membership with coupon code: COVID-19A
UNLIMITED ACCESS
With an RE Technology membership you'll be able to view as many articles as you like, from any device that has a valid web browser.
Purchase AccountNOT INTERESTED?
RE Technology lets you freely read 5 pieces of content a Month. If you don't want to purchase an account then you'll be able to read new content again once next month rolls around. In the meantime feel free to continue looking around at what type of content we do publish, you'll be able sign up at any time if you later decide you want to be a member.
Browse the siteARE YOU ALREADY A MEMBER?
Sign into your accountHow Employee-Owned FBS Became a '35-Year Old Startup'
October 11 2016
In our "Moving the Needle" series (see our previous article), RE Technology goes behind the scenes for a closer look at the companies and people in the MLS world that are using innovative approaches to help change the future of real estate. We went to Fargo, North Dakota to see what how FBS (creators of the Flexmls system) and its leader, Michael Wurzer, are "Moving the Needle."
In the world of MLS system providers, there is almost a complete bifurcation of two camps: one group of companies that are family-owned and operated, and one group of companies that are owned by shareholders, operated by managers and are publicly traded in the stock market.
One MLS systems provider that doesn't fit into either camp is FBS, inventor of Flexmls. FBS is 100% owned by its employees. Michael Wurzer, CEO of FBS, who is well known for his business acumen, says that the FBS his father founded was once family owned like many of the smaller MLS system firms, until it made its strategic pivot to become an ESOP (Employee Stock Ownership Plan). That's when the fortunes of FBS would change forever.
Rapid Growth secured by stability
In just the last three years, Flexmls by FBS has catapulted its way into becoming one of real estate's "Top 3" MLS systems. FBS has nearly tripled in size to serve over 150 MLSs and 190,000 agents. What's truly remarkable is the fact that FBS has been around for more than 35 years. According to Wurzer, FBS is poised to be around for another 35+ years, and he attributes his confidence in FBS's continued longevity to employee ownership.