The FBS Story:
Leading the Way with Results that Speak for Themselves
Founded in Fargo, North Dakota in 1978 by Paul Wurzer, Financial Business Systems (better known today as FBS), started as a custom programming shop primarily focused on financial institutions and hospitals. In 1979, a request from the Fargo-Moorhead Association of REALTORS to automate the publishing of their real estate listings from what was then called a Multiple Listing Service (MLS) Book altered the course of FBS history, marking the start of FBS in real estate technology and a legacy of innovative firsts and achievements that truly speak for themselves.
In 1997, Michael Wurzer, Paul Wurzer’s son, took the lead as Chief Executive and shortly thereafter, in 1999, the Flexmls System was born. After taking the reins, Michael had a vision to build FBS as a company of owners where responsibility, keeping promises, and the freedom and opportunity of “the American dream of ownership” were shared throughout the entire organization. In 2005, that vision became reality and FBS was transformed into a 100% employee-owned company.
The Spark API Platform hit the industry in 2011 as the first of its kind: a permission-based, RESO-compliant listings API. As with most innovation, Spark hit the market before-trend and today, is the most widely utilized listings API in the industry with the most market traction. With Spark, FBS paved the way for the API innovation that’s just now coming to market for adoption; a tried and true industry benchmark.
Between the years of 2012 and 2017, FBS experienced a period of unprecedented growth doubling both their employee base and the Flexmls System subscriber base. During this intense growth period, FBS retained nearly +99% of existing MLS clients and received the highest scores for both user and client satisfaction in annual, industry-wide surveys. FBS attributes its employee-ownership-based core value system and true passion for the building the American dream as driving forces behind their growth, continued stability, and proven success.
2018 marked not only 40 years in business for FBS but also their very first acquisition (Spring Software).
In 2019, Forbes named FBS as a Small Giant Company. Annually, Forbes acknowledges 25 companies that best demonstrate the core values of a Small Giant: purpose, culture, leadership, community, relationships, and finances. “Small Giant” companies put purpose before profit and believe in doing “better” before getting “bigger”. They are companies who grow sustainably and have a bright future because they’re focused on the long term. Notably, FBS is the only company in the real estate industry to ever receive this prestigious recognition from Forbes.
Led by 20-year CEO Michael Wurzer, the team of 100+ diverse, bright, passionate employee-owners celebrate this milestone while being deeply inspired and honored to create another 40+ year legacy of leading the way in product innovation, service excellence, and industry stewardship that speaks for itself.
Thank you to our customers and friends for giving us a continued opportunity to earn your trust and serve you!
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