New York’s Capital Region Multiple Listing Service (CRMLS) was dissolved during a public auction after four years of litigation between the two trade associations that owned it. The Eastern New York Regional Multiple Listing Service, a new subsidiary of the Greater Capital Association of Realtors, won CRMLS’s assets with a bid of $250,000.
The legal battle was not over. The two associations disagreed on how to split the $250,000 from the auction. The substantial litigation bills of this battle may serve as a lesson for future association and MLS disputes; impasses that end up in court come with a hefty cost to your wallet and time.