BrokerageIndustry News

Brokers break up with MLS

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

A group of brokers in Southern California cut ties with their association-owned multiple listing service to form their own independent MLS. And they've taken nearly one third of the association's MLS members with them. The new Bakersfield, Calif.-based entity is called Bakersfield Listing Service. Four of the region's real estate brokers who collectively have more than half the area's market share founded the MLS, which launched September 1. The brokers include KW Associates, GMAC Stroope, Watson Realty and Coldwell Banker America West and Preferred, according to Karen Wass, broker/owner of KW Associates. The Bakersfield brokers are following what seems to be a growing trend to separate from association-owned MLSs. Markets such as Washington, D.C., and Chicago have successful broker-owned MLSs in place. Wass identified technology, management issues and a changing marketplace as some of the reasons the brokers decided to break off from Bakersfield MLS, which is operated by the Bakersfi...