It's tough enough to find homes for buyers in some parts of the country without losing a data feed on top of the inventory shortage. But that's exactly what's about to happen to thousands of Southern California agents and brokers, who may miss out on millions in real estate commissions when a data share between their MLS and the nation's largest MLS ends in September. That's according to California Regional Multiple Listing Service, which has 80,000-plus members -- more than any other MLS in the country. In separate press releases, both CRMLS and the Ventura County Regional Data Share announced last week that VCRDS had cancelled its data share contract with CRMLS, citing an "unexpected" $25,000 cost to reformat its data to connect to a new CRMLS server. That means CRMLS and VCRDS members won't have access to each other's listing data. VCRDS has about 2,300 active listings in Ventura County and part of Los Angeles County, while CRMLS has about 47,000 active listings th...
- The Ventura County Regional Data Share has cancelled its data share contract with the California Regional MLS, citing an "unexpected" cost.
- According to CRMLS, ending the data share could cost VCRDS agents millions in gross commissions. VCRDS says it doesn't expect the change will have a "significant" effect on the market.
- VCRDS says CRMLS is pushing for data changes that are "too much" for MLSs to handle. CRMLS disagrees.
Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York