MLS & Associations

MLS auctioned for $250K after years of association infighting

Trade group dispute cost hundreds of thousands of dollars
Published on Jan 11, 2017
  • New York's Capital Region Multiple Listing Service (CRMLS) was dissolved during a public auction after four years of litigation between the two trade associations that owned it.
  • The Eastern New York Regional Multiple Listing Service, a new subsidiary of the Greater Capital Association of Realtors, won CRMLS's assets with a bid of $250,000.
  • The legal battle is not over. The two associations disagree on how to split the $250,000 from the auction.
  • The substantial litigation bills of this battle may serve as a lesson for future association and MLS disputes; impasses that end up in court come with a hefty cost to your wallet and time.

Watch Connect NYC 2017 Live
Tune in live as the best and brightest explain how to execute and grow your business from the main stage of Connect.

It didn't feel like a typical auction, the fast-talking auctioneer and prospective buyers shouting numbers in rapid-fire succession nowhere in sight. The room was quiet. About two dozen people witnessed an unprecedented event ...

Comments