(Note: The original version  of this story repeated the WAV Group’s error regarding the name of the new MLS. It’s been corrected below.)

 

image The board of the Arizona Association of Realtors voted to acquire the state’s largest MLS, the Arizona Regional Multiple Listing Service Inc. (ARMLS), for $4.75 million. The plan is to work with the state’s 13 other MLSs to create a single entity covering the entire state: the Arizona Multiple Arizona MLS, or AZMLS. (Yes, that’s “Arizona Multiple Multiple Listing Service.”)

Much of the work is already done, at least from an information point of view, thanks to an earlier data-sharing agreement between ARMLS and the MLS’s run by the Santa Cruz and Tucson associations. Together, the three systems cover about 80 percent of properties in Arizona.

It’s likely to grow, too — the association has already been approached by five other local associations and a regional MLS about becoming part of this new platform.

Quoth Duane Fouts, current chair of AAR:

“While the current members of ARMLS will see no dues increase, they will now be able to service their clients anywhere in the state. Smaller local associations who join will be able to increase services as well as take advantage of the cost efficiencies and buying power of the larger organization.”

The current CEO of ARMLS, Bob Bemis, will become CEO of the AMMLS.

Click here for the full story, including the AAR press release.

And click here for an early story at Realtor.org.