RetailMLS

RetailMLS was a prop-tech company that operated as the first multiple listing service (MLS) exclusively for the retail real estate market. Founded in July 2009 by Benjamin M. Zises, the New York City-based startup aimed to streamline the process of marketing and searching for retail space. The idea stemmed from Zises's own frustrations as a retail real estate broker in NYC, where he found the process of finding suitable locations for clients like Verizon Wireless to be manual and inefficient. He envisioned an online platform to aggregate retail listings, making the data easily accessible to landlords, brokers, and tenants to accelerate deal closures.

Benjamin Zises, a Boston University graduate, served as the Founder and CEO. His direct experience in retail brokerage, representing both landlords and tenants, provided the foundational insight for the company. He was joined by his identical twin brother, Samuel A. Zises, as Chief Marketing Officer, who brought experience from the advertising world at firms like Ogilvy & Mather. The executive team also included Tom Lorenc as Chief Technology Officer and Christopher Luken as Chief Product Officer. The company launched its beta platform in May 2012, quickly attracting notable firms like Vornado Realty Trust and Cushman & Wakefield to test the service. RetailMLS successfully raised approximately $4 million in seed funding across two rounds in 2011 and 2012.

The platform functioned as a specialized marketplace, allowing users to list and search for retail properties using granular, retail-specific criteria such as street frontage, ceiling height, and proximity to public transport. Initially, the service was free to encourage user adoption, with a plan to introduce premium features. The proposed business model involved revenue from advertising and a 'RetailPRO' subscription for advanced features. Despite gaining thousands of users and listings, the company struggled to generate revenue and failed to secure a Series A funding round. This led to the company ceasing operations around 2014, roughly four years after its inception.

Keywords: retail real estate, commercial real estate, multiple listing service, prop-tech, real estate technology, retail space marketplace, commercial property listings, landlord tools, tenant representation, broker tools, Benjamin Zises, real estate data, retail leasing, property search, Vornado Realty Trust, Cushman & Wakefield, online marketplace, real estate startup, deal closing, lease negotiation