"CoStar Group and CRMLS are delighted to continue their long-standing relationship with no interruption in the flow of CRMLS listings to Homes.com, an email sent to members and obtained by HousingWire read. Filed on Tuesday, the lawsuit claimed that CoStar and Homes.com had failed to pay the full amount they owe REcore for monetizing the MLS data they have obtained from the vendor."
"Under policies created in compliance with the standards approved by the Department of Justice (DOJ) in its 2008 consent decree with the National Association of Realtors (NAR), REcore does not charge MLS participants who directly contribute to the network effect of the MLS. Instead, REcore requires entities that use MLS data to generate revenue without representing buyers or sellers to pay for the data usage rights."
CoStar Group and CRMLS continue their long-standing relationship with no interruption in the flow of CRMLS listings to Homes.com. A lawsuit filed Tuesday alleges CoStar and Homes.com failed to pay REcore the full amount owed for monetizing MLS data obtained from the vendor. REcore’s policies, aligned with DOJ 2008 consent decree standards with NAR, do not charge MLS participants who directly contribute to the MLS network effect. REcore requires entities that use MLS data to generate revenue without representing buyers or sellers to pay for data usage rights and then distributes profits back to listing brokers via CRMLS. CoStar did not immediately return requests for comment.
Read at www.housingwire.com
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