Northwest region held out against Homestore

NWMLS one of few that did not join

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Some Realtors and residential brokers have a particular interest in the trial of Stuart Wolff, the former Homestore chief executive now facing illegal insider trading charges and securities fraud in U.S. District Court in Los Angeles. Wolff served as Homestore's CEO and chairman of the board from 1997 to January 2002, when he resigned during an internal investigation. He co-founded the company (then known as RealSelect Inc.), which became the parent of, the official Web site of the 1 million-member National Association of Realtors (NAR)--the largest trade association in the United States. In 1998, he had the entire residential real estate industry talking about him and his He was the brains behind the operation--and he knew it. But a few key Multiple Listing Services (MLS)--including the Kirkland, Wash.-based Northwest Multiple Listing Service (NWMLS)--were not buying in to his deal of placing property listings on his system. The NWMLS, owned by its member bro...