Search
 

Multiple Listing Service Comes to NYC, Finally

NEW YORK CITY-Those looking for a home in Manhattan will be able to survey a large portion of the market from one source. The rest of the country has been doing it this way for years.

By John Howe | Updated on August 03, 2000

The Corcoran Group, Douglas Elliman and the Halstead Property Co., which together control about half of the Manhattan residential real estate listings, are joining to form a multiple-listing service. Approximately $2 million will be invested in developing a database that will allow members to find out information about properties their competitors are offering for sale.

Such services are common around the rest of the country, but were never adopted in Manhattan. That has made it difficult for those hunting for an apartment, condo, co-op or townhouse to survey all the available properties without contacting a long list of brokers. Pam Liebman, CEO of Corcoran Group, headed by founder Barbara Corcoran, told GlobeSt.com that, “It’s really a revolutionary change for the market because for the first time ever both consumers and brokers have a one-stop shopping opportunity. Until now it’s been difficult for buyers to feel confident they’re getting exposure to the whole market by working with one broker.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.