Industry News

California MLS consolidation moves forward

Group seeks real estate brokers to serve as leadership

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A group of six northern California multiple listing services, which plan to band together to form one of the largest MLSs in the country, have named their new organization the Northern California Real Estate Exchange (NCREX), according to an announcement today. NCREX, which will be phased in over the next couple of years, is expected to facilitate up to 100,000 property transactions per year representing over $100 billion in annual real estate sales, announced Clareity Consulting, a company that is providing services to assist with the consolidation plan. "The 12 person regionalization task force chose the term 'real estate exchange' because the term 'MLS' is somewhat outmoded and means different things to different people; plus it also has historical baggage attached to it," said Gregg Larson, CEO of Clareity Consulting. "We are trying to create a brand-new real estate information exchange for the next 20 years, and we wanted to start with a blank sheet of paper to design it properl...