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REBNYS ResidentialNYC.com Ready to Launch in New York City

September 25, 2007

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ResidentialNYC.com is a free consumer facing real estate listings site that is scheduled to launch this Friday - September 28, 2007. The portal was created by the Real Estate Board of New York - REBNY - and is powered by the Trulia search engine. The goal of the site is to create one comprehensive destination where consumers can go to find all the current active exclusive real estate listings in the New York City market. But will it?

Not at first. Three of the largest players in the Manhattan real estate market, Corcoran, Prudential Douglas Elliman and Bellmarc, have decided not to participate. The same goes for many other smaller real estate firms. So, is this a bad thing for Manhattan home buyers? Maybe not.

Once we see who the participating real estate companies are, we can then check them off our list as independent sites to search. Then you can either go directly to the non-participating sites or use real estate search engines such as Trulia, Streeteasy, Natefind or PropertyRover. Using this long winded method, you should get a much better understanding of active listings on the market. Ideally, is this the best solution for DIY NYC home buyers? Of course not.

Ideally, from a consumer point of view, all real estate brokers would enter all their listings into one site. Ideally! So why haven’t all Manhattan real estate brokers elected to participate? Good question my dear Watson.

  • Could it be too costly?
  • Maybe it would it dilute the brokers brand?
  • Maybe some brokers would get more exposure than others.
  • How the heck will it be promoted to consumers?
  • How fresh will the data be?
  • How detailed will the search be?
  • Will it be lead capture free? - i.e Will I have to submit my contact info to see property details?

These are some of the thoughts expressed from some local brokers on the street. The list goes on. Time will tell how the new site will pan out. Exciting for sure!

In my humble opinion, the best solution for any NYC home buyer is to work with a competent NYC real estate broker. They will do all the legwork for you and then some. Need a referral? :)

But I think I’ll build on that thought in a follow up post….stay tuned.

More News on ResidentialNYC.com

Brownstoner - 21st Century, Ahoy: REBNY Rolling out Web Listings
NY Observer - REBNY Readies It’s Web Portal - Where’s Corcoran and Elliman?
The Real Deal - REBNY to Launch Free Web Portal

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Posted by Rudolph D. Bachraty III | Filed Under NYC News, Real Estate Blog 

Comments

One Response to “REBNYS ResidentialNYC.com Ready to Launch in New York City”

  1. Can I Have Fries With That Shake? on September 25th, 2007 5:24 pm

    [...] I was writing the REBNY post, I was thinking about some of the reasons buyers like to shop for homes - ALONE. So here goes [...]

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