- FOR IMMEDIATE RELEASE
- Contact: Art Carter
- Chief Executive Officer
- California Regional MLS
- [email protected]
CRMLS Shares Listing Portal Revenue with Syndicating Brokerages for Fourth Year Running
CHINO HILLS, CALIFORNIA – May 22, 2019 – Today, California Regional MLS issued checks to the approximately 2,400 brokerages that participate in listing syndication and contributed 10 or more listings to the CRMLS database between April 1, 2018 and March 31, 2019. These checks represent each syndicating brokerage’s share of the revenue CRMLS receives from entering into syndication agreements.
“We’re proud to operate this program every year,” said CRMLS Chair Andy Bencosme. “CRMLS is adamant about protecting brokers’ data and this program is evidence that we honor the brokers’ right to decide what their listing distribution channels are.”
CRMLS earns licensing fees from its syndication partners, including popular listing portal websites, in exchange for a listing data feed. “The listing data comes directly from brokers’ efforts,” said CRMLS CEO Art Carter. “Brokers are the ones working to create the data that gets sent out, so syndicating brokers should be the ones earning this revenue.”
CRMLS has now returned this income back to the listing community for each of the past four years.
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 syndication 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 syndication agreements but are interested in learning more 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 96,000 real estate professionals from 34 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.
