Editor's note: This story has been corrected to refer to Connecticut Multiple Listing Service Inc. as "CTMLS" on second reference. An earlier version of the story included several references to "CMLS," a competitor of CTMLS that has not joined the statewide MLS. The nation's roughly 900 multiple listings services could provide greatly improved products and services for members if they consolidated into 50 statewide MLSs, according to a white paper that details how that feat was accomplished in Connecticut three years ago.In the white paper, Cameron Paine, CEO of Connecticut Multiple Listing Service Inc., estimates that brokers and agents waste $100 million a year on excess fees that are a result of the duplication under the current system of overlapping MLSs.In Connecticut, consolidation of six Realtor association-owned MLSs into a single, statewide MLS resulted in "greatly improved efficiencies and economies of scale" that in turn allowed for "gre...
by Brad Inman | on Mar 21, 2017
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