GlobeSt.com reported back in March that David Machonski of Coldwell Banker Hunt Kennedy, the president of the Manhattan Association of Realtors, was getting a group of commercial and residential brokerages together to start a Manhattan chapter of NAR. In theory, the idea seemed wonderful, but the problem was that the Bronx had an existing NAR chapter that controlled the Manhattan territory.
"To resolve the dispute, we've worked out an agreement with the Bronx where we would control the territory south of 145th Street under the name the Manhattan Association of Realtors," Netter says. "This was really the only obstacle in our way to forming a Manhattan chapter. As a result, we expect NAR to accept our bid in a vote to be held this Saturday, May 19th."
At present, the group is in the fledgling stages, but is actively recruiting members. "As of this past Tuesday, we had 595 members," Netter confirms. As time passes and the group becomes more established, more members are expected to come on board. One big selling point to joining is the impact of REALTOR.com, NAR's web site of commercial and residential listings that reaches 1.4 million real estate associates globally.
"We have some housekeeping issues and software quirks to work out before we can get an MLS together to get on REALTOR.com, but we're getting there," Netter explains. "However, once the chapter is voted in and we establish ourselves on REALTOR.com, it'll put this area on stream with the rest of the country, who have been doing this for decades. We truly have a lot to gain."
In reaction to the pending decision, other members of the Manhattan Association of Realtors are reflecting on how this will impact how business is done here. "We'll have to see what changes it's going to make as it becomes more established, but for those of us that belong, we'll have access to REALTOR.com and NAR, an organization that anyone would be proud to be a member," says Donna Olshan, president of Olshan Realty and a member. "This isn't about some religious conversion in the world of Manhattan real estate, it's about adding a degree of professionalism to our area."
Actually, the effect is already being felt. The Corcoran Group, the second largest residential firm here and the biggest reason, next to Douglas Elliman, that a local MLS effort died, is excited to join the new NAR chapter. "This is great for New York," says Scott Durkin, COO of the Corcoran Group. "The Corcoran Group has tried to join NAR for years but because REBNY was not a member there were always too many obstacles to overcome, but now that NAR is expected to be here again, we look forward to joining."
The move doesn't surprise Netter, who is happy to hear Corcoran may be signing on but is reluctant to call them a member until it's official. "What's going to take place is that brokers are going to be excited to join this chapter of NAR as we become more established," Netter explains. "We're already growing and we don't expect to stop."
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