Industry NewsNews Brief

Will new virtual firms pave way for full MLS?

From The Real Deal
Published on Dec 1, 2009

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

A new breed of online brokerage is springing up in New York, altering the landscape of real estate sales in Manhattan and worrying traditional firms, who fear the changes may hurt their business.

In the past, New York firms have contended with Web aggregators like StreetEasy and Trulia, which gather and post information on local brokerage listings.

But thanks to a recent settlement between the federal Department of Justice and the National Association of Realtors, the Real Estate Board of New York is now sharing all of its members' listings directly with online brokerages, known as "Virtual Office Web sites."

Comments