At $3500 for firms with fewer than 19 agents and $7000 for larger firms, some with 1000 agents, there is no doubt that fees are disproportionate. A sole proprietor broker would pay $3500 while the per agent cost at a large firm would be $7. More troubling is REBNY’s standard modus operandi of REBNY and large firms making decision on behalf of all REBNY members.

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Hundreds of small brokers joined together in meetings, frantic emails and a petition criticizing the fait accompli announcement by REBNY of a planned portal to present broker exclusives to consumers. Universally, brokers criticized REBNY for undertaking a mandatory portal that included no participcation from 95% of REBNY’s broker members and the lack of a business plan. Buyer brokers especially expressed concerns that buyeres would not need or use their services.

More from Inman News.

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To the surprise of most of its members, the Real Estate Board New York (“REBNY”) announced a plan to launch a public portal of all REBNY member brokers’ exclusive listings.

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As an alternative to Multiple Listing Services, internet search engine spiders such as propertyrover.com and natefind.com scrape real estate websites to aggregate real estate postings. more… [Real Deal]

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