Industry News

MLS consolidation group draws more interest

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Participants in an effort to consolidate six San Francisco Bay Area property-listing services are studying whether the ownership structure of the new group should be tweaked to accommodate more expansion. The consolidation will create one of the largest multiple listing services in the country. Gregg Larson, CEO of Clareity Consulting and a spokesman for the consolidated MLS organization, dubbed the Northern California Real Estate Exchange (NCREX), said today, "Ownership is probably one of the top two issues, if not a top one." Under its current structure, the NCREX entity is wholly owned by participating local Realtor trade groups and governed by a group of brokers who are serving as a temporary leadership board. During a meeting Tuesday, participants and interested parties discussed some possible changes to the group's structure that could attract other MLSs to join. The merger of the six MLSs "is huge -- it's a historic event almost," and additional participants would make the feat...