We had some great meetings this week with local data shops here in NYC. After 3 months of due diligence, meeting after meeting I am still in awe that New York City and collaborative NY Real Estate Brokers have operated without a NY MLS for all of these years.
Slowly but surly there is a database growing (aggregating) clean listing information that 90%+ of NY real estate brokerages are subscribing too (after you sign up and pay your dues to REBNY of course).
So what does this all mean to YOU?
On a basic level it means that very soon (now) you will be able to confidently search ONE website and view all NYC real estate listings from almost every brokerage (90%+). Yes the big boys (Corcoran, BHS, PDE & Halstead) have agreed to play too.
Late last year (2009) REBNY formally announced to allow public access to this NY MLS via something called a VOW (virtual office website). The technology/compliance aspect is “kinda good, but kinda bad”. You may have been following the article published in The Real Deal or other NY Real Estate publications. So…the GOOD news is that YOU (the un-licensed) public is now allowed to view what NY Real Estate Brokers once could only view. The not-so-good news is that we have LIMITED ability to serve up the information to you (make it clean, simple and useful) and you to add to that aggravation you have to sign-up to legally gain access to the information. (Name & Email address only).
As much as this is a step in the right direction, its far from where it needs to be in comparison to the rest of the U.S. As some of you know, we operate our company and “Reduced Commission Business Model” in more than 20 cities pulling a RAW IDX MLS feed allowing us to create a GREAT user experience and value to our clients/readers/viewers of the website. We mash-up “sold comps” data, mapping and other important decision making information and even with all of this data our clients DO NOT have to sign in to our website to view listings, photos or other basic information.
The bottom line here is that we have leveraged technology in so many other cities so that we could provide a great tools to the public (our clients). These tools help us LOWER COSTS and improve efficiencies which is the back bone of our “Cash Back” business model. And without stepping out too far…this kind of technology has allowed us to compete in new markets and has ALLOWED us to reduce commission to our clients.
All negativity aside we are very excited to launch our version of the NY MLS in the next few weeks and VERY EXCITED to bring our “Reduced Commission” Brokerage model into Manhattan. Why you are waiting…contact us to ask us how you can save up to $25,000 CASH BACK from our commissions!
