BREAKING: CRMLS Merges With SOCALMLS

 

I just got confirmation that CRMLS will merge with SOCAL MLS, forming the largest MLS in the country. I’m waiting for the press release now. [Full disclosure: CRMLS was a client of 7DS Associates.]

EDIT: The press release is out. It’s here.

Word is that the combined entity — which will operate under the CRMLS (California Regional MLS) and with Art Carter as the CEO — will have some 68,000 subscribers, dwarfing the current largest MLS (MRIS) by over 50%. MRIS has roughly 40,000 subscribers in the Mid-Atlantic area.

I’ll post more once I’ve read the press release and looked into this more. But top of mind thoughts/impressions:

This is quite obviously the start of a major new regional MLS in the largest real estate market in the country: California. It could be a game-changer in the MLS landscape.

The other smaller MLS’s in the southern California market have got to be thinking about what this means. Either join the parade, or possibly get steamrolled. Northern California — which boasts a couple of very large MLS’s as well — should be taking a very hard look indeed at consolidation.

And M&A within this space is a very difficult task, given all of the politics involved. Major achievement by the teams, the various Boards, and the Associations involved. Kudos to all!

-rsh

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Rob Hahn

Rob Hahn

Managing Partner of 7DS Associates, and the grand poobah of this here blog. Once called "a revolutionary in a really nice suit", people often wonder what I do for a living because I have the temerity to not talk about my clients and my work for clients. Suffice to say that I do strategy work for some of the largest organizations and companies in real estate, as well as some of the smallest startups and agent teams, but usually only on projects that interest me with big implications for reforming this wonderful, crazy, lovable yet frustrating real estate industry of ours.

1 thought on “BREAKING: CRMLS Merges With SOCALMLS”

  1. Rumor has it the name of the new MLS will be SuperMLS.  Yes it will adapt the Superman logo.  Hollywood IS in its region for pete sake.

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