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CALMLS plans to acquire one or more MLSs

Reps for statewide effort have 'started serious negotiations'

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Directors for a statewide multiple listing service initiative in California are considering whether to buy up one or more regional multiple listing services, according to a status report posted at the trade group's Web site. CALMLS, a nonprofit subsidiary of the California Association of Realtors that is pursuing the statewide MLS system, has plans to "acquire the assets of at least one regional MLS and potentially two or more in cooperation with their local association leadership and membership," according to the online information, and to borrow $3 million from the state Realtor group, to be repaid within seven years. The information was part of a "CALMLS Status Report and Request for Funding" that has not been formally approved by CALMLS directors or the California Association of Realtors board. A directors meeting is scheduled next week. The report also states, "In the last 60 days, CALMLS identified several regional MLS providers from different...