Industry NewsNews Brief

Arizona Realtors eye statewide MLS

ARMLS shareholders agree to be acquired by state association
Published on Jul 25, 2011

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by CareyBot

The Arizona Association of Realtors is a board vote away from acquiring the state's largest multiple listing service as part of a larger plan to build a statewide MLS.

At their Aug. 8 meeting, board members of the Arizona association will consider a proposal to become the sole owner of Tempe-based Arizona Regional Multiple Listing Service Inc. (ARMLS), and discuss governance and financial issues surrounding the operation of a statewide MLS.

Shareholders of ARMLS have signed off on a tentative agreement to be acquired for $4.75 million, and proponents of the deal have prepared a business plan that envisions other Realtor associations signing on to a statewide MLS over time.