In 2014 the National Association of Realtors' board of directors approved a recommendation that would require MLSs to comply with standards set forth by the nonprofit Real Estate Standards Organization (RESO), including compliance with RESO's Data Dictionary and Web API, starting in 2016. The underlying goal was to get MLSs more or less operating at the same level. Now RESO has announced the implementation of new membership tiers that slash annual dues for smaller MLSs with the goal of making compliance less burdensome while wrapping certification into a membership benefit. Meanwhile, annual dues for larger MLSs have increased. "By creating new membership tiers and slashing our annual dues for brokerages with fewer agents and MLSs with lower membership counts, we make RESO membership in 2017 more accessible for everyone in the real estate industry," said Jeremy Crawford, executive director of RESO in a press release. "This ensures all market segments are affordably r...
- The Real Estate Standards Organization (RESO) has created new membership tiers with revised annual dues and has rolled certification fees into the annual dues cost.
- Annual dues for MLSs with fewer than 500 members were slashed by 50 percent, dropping to $500 from $250. Moreover, MLSs with fewer than 100 members will experience a 90 percent discount, with annual dues dropping to $50.
- Meanwhile, larger MLSs will experience a hike in annual dues. For instance, MLSs with 5,000 to 9,999 members annual dues will increase by $2,500 to a total of $5,000.
- RESO Executive Director Jeremy Crawford says he expects the annual dues and certification changes to bolster membership so MLSs will have an easier time becoming RESO-compliant.