BrokerageIndustry News

NYC Web portal draws fire from some brokers

Petition calls for more discussion, general vote

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A group of brokers is protesting the process through which the Real Estate Board of New York trade group approved a public home-search Web portal, and is calling for more discussions and a general vote of all brokerage-company members. In a petition that the brokers' group plans to submit to REBNY this week, the group states that the portal "appears to serve only the interests of the largest member firms" and that the decision to launch the portal "was neither transparent nor democratic." Also, the petition calls upon the REBNY board to "immediately cease plans to implement this portal and instead seek further discussions with the members, after which the proposed plan would be approved or rejected by a majority vote of all member firms." In a public announcement Nov. 1, REBNY officials announced plans to develop "a Web-based, user-friendly searchable database of residential properties in New York City." The announced portal represents a shift for a real estate market that has been sl...