Saturday, August 07, 2004

Controversy in Chicagoland real estate heats up

MLSNI management on the ropes
A bitter and controversial political fight among real estate brokers, large and small local trade associations and a cast of other characters in the Chicago area has turned ugly, and could lead to the dumping of the management team of the Multiple Listing Service of Northern Illinois, according to Inman News sources.

The Chicago Association of Realtors yesterday voted to recommend the ouster of certain MLSNI management, including CEO Jay Huffman, sources said. However, the shareholder meeting scheduled for Monday ultimately will decide the outcome and the Chicago association may well change its plan before then. A spokesman for CAR would not comment on its actions, and neither would CAR CEO Darcy Dougherty.

Shareholders at Monday's meeting also will discuss the results of a recent forensic audit of MLSNI and Huffman that was ordered in April. The results were handed out at a meeting earlier this week, but no action was taken at that time. A forensic audit is different from most audits in that it involves auditing, accounting and investigating.
Read the entire article HERE

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