National broker portal has seed money in hand

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A group of prominent multiple listing services, franchisors and brokers have reached their first milestone in a quest to build the first national MLS consumer-facing listing portal. The initiative, dubbed the "Broker Public Portal," has raised more than the $250,000 it needed in startup capital in just 10 weeks, the group announced today. The broker portal will follow display rules that favor listing brokers and put more control of listing data in brokers' hands without charging them for leads, proponents say. "This is an effort that is good for the real estate industry today and will benefit brokers and sales associates for many years to come," said Robert Moline, president and chief operating officer of HomeServices of America, in a statement. HomeServices, the nation's second-largest brokerage firm, is one of 24 real estate brokerages that each contributed $5,000 to the effort. Thirty-two MLSs made similar contributions. Another 18 MLSs and 21 brokers are also process...