(To read more on the multifamily market, click here.)

NEW YORK CITY-The Real Estate Board of New York plans to open its REBNY Listing Service to the public by the end of the first quarter 2007, allowing non-real estate professionals access to condominiums and apartments for sale or lease. The board will do so through the creation of a 'comprehensive' website that allows anyone to search properties and locate listings.

REBNY' s 319 members were informed Wednesday of the impending feature and the company hopes to have an RFP issued by Monday, according to REBNY President Steven Spinola, who introduced the concept during a press conference this week.

To get the word out, REBNY plans to spend more than $1 million dollars on an advertising campaign to alert the local real estate and residential communities. The board will also spend at least half a million dollars to create and maintain the site.

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