"The real estate industry is undergoing a rapid transformation, driven by shifts in broker perspective, a changing business environment and rapid advancements in technology, Tim Dain, the CEO of NorthstarMLS, said in a statement. Our priority is to ensure NorthstarMLS moves ahead as a vital asset for the licensed real estate professionals who rely on MLS services. This new governance structure is a proactive, forward-thinking move that will strengthen the organization. Under this new model, NorthstarMLS's board of directors will be reduced from 20 directors to 11 directors, which the firm said will help streamline decision making."
"Of the 11 directors, six will be recruited and chosen from outside the real estate industry. These independent directors will bring subject matter expertise in critically challenging areas such as law, technology, and marketing, the MLS said in a statement. The remaining five board members will be licensed real estate professionals who are actively engaged in NorthstarMLS's service area. In addition to the board restructuring, NorthstarMLS is also going to establish a small, nimble executive committee, which the MLS said will work together to address new opportunities. The MLS added that the new structure requires its outside legal counsel to attend all board and executive committee meetings to address legal concerns."
NorthstarMLS is restructuring governance to respond to industry transformation and technological change. The board of directors will shrink from 20 to 11 members to streamline decision-making. Six of the 11 directors will be independent recruits from outside real estate, bringing expertise in law, technology, and marketing. The remaining five directors will be licensed real estate professionals active in NorthstarMLS's service area. A small, nimble executive committee will be established to pursue new opportunities. Outside legal counsel will be required to attend all board and executive committee meetings to address legal concerns and support governance decisions.
Read at www.housingwire.com
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