The nation's largest MLS is giving the funds it receives from listing syndication to the brokers that provided the listings -- and encouraging other MLSs to follow its lead. California Regional Multiple Listing Service (CRMLS), which has more than 80,000 agent and broker members, has cut checks totaling about $160,000 to about 1,300 of its member brokerages. CRMLS is handing over all of the money it obtains from syndication back to brokers, minus the costs of printing and distributing the checks, the MLS said in a press release. These are brokerages that contributed 10 or more listings to the CRMLS database between April 1, 2015, and March 31, 2016, and chose to allow CRMLS to distribute those listings to third-party websites for them. The payouts aren't huge for most brokerages, but the move may start a trend. If nothing else, it is a symbolic gesture that addresses the lost economic opportunity some brokers fuss about when discussing control of listing data. "Our ho...
- California Regional MLS is giving its brokers the revenue it receives from syndicating their listings.
- The MLS urged other MLSs to do the same.
- In a blog post announcing the move, CRMLS assured brokers that MLS consolidation would not change brokers' control over listing data.
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