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On-line Exchange Registers 1,500 Apartment Hunters in First Week

NEW YORK CITY-CityRealty.com allows renters and buyers to indicate what buildings they would like to live in. When something appropriate becomes available, a broker can contact them electronically. It can also facilitate scheduling of an appointment to view the property.

By John Howe | Updated on November 09, 2000

NEW YORK CITY-More than 1,500 people searching to rent or buy an apartment here have registered with CityRealty.com, the residential real estate exchange, after a week of operations. The company expects to register approximately 7,500 active, pre-qualified renters and buyers in about a month, which the firm says would make the site the largest single aggregation of apartment buyers and renter in this market. Information about over 1,000 apartment buildings is available at www.cityrealty.com, which translates into 200,000+ units

Unlike a multiple listing service, which is a data base of properties that brokers and buyers search, this site uses patent-pending, reverse-listing technology that enables those looking for a new home to list themselves anonymously and receive offers electronically from participating brokers.

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