Realcomp recently entered into shareholder negotiations with the leadership of the DRAR with many hopes. Among them, to serve DRAR’s members by providing them with Realcomp’s all-inclusive offerings, to consolidate Multiple Listing Services and fees for REALTOR® subscribers of both organizations, and to expand Realcomp’s shareholder base.

Although, we were disappointed to learn of DRAR’s decision, we appreciate their consideration of Realcomp’s earnest offer. At this time, DRAR has not indicated any plans to resume sharing data with Realcomp or that they would be willing to rescind their previous decision to restrict that access which ended the sharing arrangement.

Today, we are pleased to serve over 12,200 REALTOR® subscribers, over 515 of them from the Down River area. In recent weeks, Realcomp has welcomed over 30 REALTOR® offices from the Down River area. Realcomp has received a great deal of positive feedback from them and has made significant progress towards obtaining the on-market and sold listing inventories of our new offices and adding these to the MLS database. We are committed to continuing these efforts to provide the most complete database of listings for SE Michigan.

We know in these tough economic times that we must continue to look at all options for serving the best interests of our members. We will keep you up-to-date of our progress and appreciate your support. It is because of your encouragement that we look forward to the future with determination and positive expectations.

If you have any questions about this, please direct them to Karen S. Kage, CEO by phone at (248) 553-3003, ext. 120 or by e-mail. Thank you.