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by CareyBot

NRT-owned Coldwell Banker's decision last week to pull the listings of 10 of its Chicago-area offices from Multiple Listing Service of Northern Illinois marks yet another instance of a big broker's preference for a private, broker-owned MLS instead of an association-owned MLS. Broker-owned MLSs are not an unheard of phenomenon. Other markets such as Boston and Atlanta operate with broker-owned MLSs. The Coldwell Banker offices will now post listings exclusively with MAP MLS, a smaller broker-owned operation based in nearby Palatine, Ill. A large real estate broker pulling its for-sale listings from the largest MLS in its region continues the debate over whether such choices threaten to crack the fundamentals of a single MLS realty market. Darcy Dougherty, CEO of the Chicago Associati...