SOURCE: Realcomp II Ltd.

 

FARMINGTON HILLS, MI--(Marketwire - November 5, 2008) - Realcomp II Ltd. -- the state's largest real estate Multiple Listing Service (MLS) provider -- is adding the Grosse Pointe Board of REALTORS® as its newest shareholder.

Under the terms of the agreement, the Grosse Pointe Board will receive two (2) seats on Realcomp's Board of Governors, three (3) seats on Realcomp's MLS User Committee and will participate in governing the corporation. Shareholder status will also give Grosse Pointe REALTORS® a definitive voice in the direction of Realcomp's MLS rules, regulations and technology adaptations.

"Grosse Pointe REALTORS® will have an official voice as Realcomp shareholders and users," said Karen Kage, CEO of Realcomp II Ltd. "Direct communication with their board allows us to better tailor our services for REALTOR® and consumer benefit."

"With such a large percentage of our members also members of Realcomp, we felt it was important to be involved," said Bobbi Sexton, CEO of the Grosse Pointe Board of REALTORS®. "Grosse Pointe REALTORS® now have a voice and a representative vote in an organization vital to their success."

The Grosse Pointe Board of REALTORS® will officially join Realcomp as its 8th Shareholder once the Realcomp Board of Governors ratifies the decision during their November 21, 2008 meeting.

The other seven (7) shareholders include the: Dearborn Board of REALTORS®, Detroit Association of REALTORS®, Eastern Thumb Association of REALTORS®, Livingston County Association of REALTORS®, Metropolitan Consolidated Association of REALTORS®, North Oakland County Board of REALTORS®, & Western-Wayne Oakland County Association of REALTORS®.

Currently, Realcomp provides approximately 12,000 REALTORS® with access to more than 1 million on-market, off-market and historical (i.e. more than 2 years old) listings for Southeast Michigan.

Realcomp is headquartered in Farmington Hills, Michigan and has continuously operated as a full-service provider to the real estate industry, offering Multiple Listing Services, real property data, products and training since 1994.