CRMLS Shares Data Syndication Revenue with Syndicating Brokerages for Third Straight Year

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May 01, 2018, 11:30 ET

SAN DIMAS, Calif., May 1, 2018 /PRNewswire/ -- For the third straight year, California Regional MLS has issued checks to the approximately 1,600 brokerages that participate in data syndication and contributed 10 or more listings to the CRMLS database between April 1, 2017 and March 31, 2018. These checks represent each syndicating brokerage's share of the revenue CRMLS receives from entering into syndication agreements.

"We pride ourselves on giving brokers a variety of choices in how they do business," said CRMLS Chair Tom Berge, Jr. "If brokers want their listings to syndicate, they have that choice. If they would prefer not to syndicate listings, they have that choice, too."

CRMLS earns licensing fees from its syndication partners in exchange for a feed of broker-led listing data. Since the listing data comes directly from brokers' efforts, and since there are costs associated with successfully obtaining listings, CRMLS has returned this income back to the listing community for each of the past three years. "Brokers are the ones working to create the data that gets sent out, so syndicating brokers should be the ones earning this revenue," CRMLS CEO Art Carter added.

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 over 86,000 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.

SOURCE California Regional MLS