Industry News

Chicago-area MLSs announce data-sharing deal

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Two Chicago-area multiple listing services announced the creation of a "mirrored database" that allows each MLS to display a combined inventory of property information from both MLSs to their members. The Realtor association-owned MLS of Northern Illinois and the smaller broker-owned MAP-MLS, which are participating in the data-sharing agreement, have also been pursuing a merger. Though a group of dissenting MLSNI shareholders has filed a lawsuit to block the merger, that litigation is ongoing. MLSNI has about 50,000 members, while MAP-MLS has fewer than 15,000 members. "Despite the ongoing legal battle ... over the proposed consolidation between MAP-MLS and MLSNI, cooperation is the order of the day," said Brad Tertell, vice president and general manager of MLSNI, and Bud Fogel, CEO for MAP-MLS, in a statement. "By instituting the mirrored database the agents can use their system of choice and know that all inventory from both organizations is being searched. Both leaders also feel t...