SAN DIMAS, Calif., April 26, 2017 /PRNewswire/ -- Today, CRMLS issued checks to approximately 2,100 brokerages which are participating in data syndication and contributed 10 or more listings to the CRMLS database between April 1st, 2016 and March 31st, 2017. This is the second consecutive year that the organization has distributed all licensing income from broker-led syndication back to the brokerages themselves.
CRMLS enters into data syndication agreements which it believes will benefit their subscribers and participants in the business of serving buyers and sellers of California real estate. Many such arrangements are made between CRMLS and third parties, and always provide choice to each individual brokerage as to whether they participate in sending listings to online real estate portals. This practice follows the CRMLS belief that each brokerage receiving services from CRMLS should be the final arbiter of where their listing data is redistributed via the Internet.
As part of such agreements, CRMLS has received licensing fees for providing a feed of participating brokers' listing data. Since this listing data comes directly from the efforts of those brokers, and there being substantial costs for those firms to successfully obtain listings, CRMLS has resolved to return all resulting income back to the listing brokerage community. CRMLS hopes that these funds will assist participating brokerages in offsetting some of the operational costs of obtaining listings.
Each firm that placed 10 or more listings into the CRMLS database will receive a dollar amount per listing submitted, with the exception of listings that had confirmed violations and fines. This represents all of the fees collected from syndication channels over the course of the last year, less the costs of printing and distributing the checks.
"CRMLS is committed to the idea that brokers should maintain control over their data," said Art Carter, CEO of CRMLS. "We will continue to support broker choice to ensure their data is used to benefit the brokerage community and their consumers, and we will continue to help brokerages recoup costs related to obtaining listings, whenever possible."
Brokerages who are not currently participating in syndication agreements but who are interested in learning more details can contact CRMLS Customer Care at 800-925-1525 for more information.
About California Regional Multiple Listing Service (CRMLS)
California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing over 81,000 real estate professionals from 33 Associations, 3 Boards of REALTORS® and 1 MLS. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS visit www.crmls.org.
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SOURCE California Regional MLS