Los Gatos Weekly-Times

Homes

The Real Deal

Effort to combine multiple listings

RE InfoLink CEO Jim Harrison was in Los Gatos and Palo Alto last week, where he updated Silicon Valley brokers and managers on the latest developments toward a Multiple Listing Service consolidation at the regional level.

In 2004, real estate brokers and MLS executives in Northern California began discussions regarding how to more effectively meet the current and future MLS needs of the region's real estate professionals. Specifically, the participants discussed the cost and difficulties of conducting business across a large geographic area in which there were multiple MLS organizations with disparate rules, fee structures and procedures. They also felt there was a growing need to provide improved services in order to respond to new competitors entering the industry.

An MLS consolidation would mean centralized management, standard data and rules. Most important, subscribers would have access to more information. This means exposure to listings with a larger resource and a broader base of information.

Discussions on establishing the regional MLS are well advanced, and a merger could be approved within a couple of months, said Harrison.

Information provided in this column is presented by the Realtor members of the Silicon Valley Association of Realtors at www.silvar.org. Send questions on any topic to rmeily@silvar.org.