“The ABC procedure is the most efficient, responsible and responsible path for writing,” Lock Unlock MLS told Inman in a statement. “It provides a structured pathway to migrating Remine’s assets while creating the best opportunities for acquisitions.”
Founded in 2015, Remine faced financial instability, labor reductions and controversy over the use of MLS data. When MLSTH acquired the company, it had around 60 employees and served nearly 60 real estate agents associations and MLSS, representing 1.2 million professionals. These figures have since dropped to 40 mlss and 600,000 real estate professionals, Inman said.
MLSTH’s ABC petition shows that Remine has never made a profit.
“Since then, Remine’s revenue has been reduced by more than 25% due to customer wear and cost reductions have not compensated for the loss in revenue,” Filing said.
The petition also cites losses for major MLS clients. California Regional MLS (CRMLS), Bright MLSand Star MLSserving 292,000 subscribers together.
