- FOR IMMEDIATE RELEASE
- Contact: Art Carter
- Chief Executive Officer
- California Regional MLS
CRMLS Marks Fifth Straight Year of Giving Listing Distribution Revenue Back to Brokerages
CHINO HILLS, CALIFORNIA – October 8, 2020 – Today, California Regional MLS (CRMLS) issued checks to the approximately 1,300 brokerages that participate in listing distribution (or “syndication”) and contributed 10 or more listings to the CRMLS database between April 1, 2019 and March 31, 2020. These checks represent each distributing brokerage’s share of the revenue CRMLS receives from entering into distribution agreements.
CRMLS is proud to note that it has now operated this program for five straight years.
“This program is incredibly important to us,” said CRMLS Chair Andy Bencosme. “We are committed to the idea that brokers have the right to decide what happens to their data, and this program is one of many ways we honor that commitment.”
CRMLS earns licensing fees from its listing distribution partners, including popular listing portal websites, in exchange for a data feed. “The listing data comes directly from brokers’ efforts,” said CRMLS CEO Art Carter. “Brokers are the ones choosing to send data out, so distributing brokers should be the ones earning this revenue.”
Each firm that placed 10 or more listings into the CRMLS database will receive a dollar amount per listing submitted, except listings that had confirmed violations and fines. This represents all the listing distribution revenue CRMLS received over the past year less the costs of printing and distributing the checks.
CRMLS-participating brokers who are not currently participating in listing distribution agreements but are interested in learning more can contact CRMLS Customer Care at 800-925-1525 for 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 more than 100,000 real estate professionals from 41 Associations, Boards, and MLS organizations. 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