Manhattan MLS

Can you explain how sites like OLR, streeteasy, propertyshark fit in?

I also would recommend if you use a broker to stick with a large firm, we didn't and it was
a major headache. They didn't really know what they were doing. Maybe that was an isolated case, but I wouldn't do it again that way. I would stick with a seasoned professional.

Very good advice, #3, or you could do what so many on this board do & do it yourself & really muck it up.

#2 What is OLR, please?

Streeteasy is the Manhattan MLS, what are you talking about?

OLR is a company called online residential. They provide the MLS (multiple listing services) to most of the real estate firms - like citihabitats. OLR can lookup all info from the major three - corcoran, elliman, & brown harris stevens - and other small ones as well. The rule of thumb is that if the broker is a member of REBNY, they must post their listings - sale or rentals - on the MLS within 72hrs.

Streeteasy is not a MLS service. They only offer searches through brokerage firms that are affiliated with them - corcoron, elliman, citi-habitats, and small ones like nestseekers. They do not have the capability of searching other networks.

Streeteasy is the emerging MLS, as more brokers put their listings on the more central it will be. I dont think they are going to deny anyone from posting. Am I correct? there is no exclusive affiliation with any agencies, its open to anyone who signs up.

Sorry dude, business is business, and its a dog eat dog world. Why should successful companies help their competition get on their feet? My commissions are my commissions, I dont need help from another broker to sell my listings, why should successful brokers subsidize others? Only the losers want central mls. It doesnt benefit sellers, a fractured market lets sellers get higher prices.

Hurray for Elliman and Corcoran!!!!!

#8 You are correct no one will be denied posting their listings but the big firms do not need them as their sites are well known throughout the world and receive about 15,000 visitors per day. It's the small unknown firms that need help and it always amazes me why sellers chose to list with them.

perhaps a better commission %

better commission? no. it's about promises. I used to work for a small firm.. alot of lies, deceat, and definitely illegal incentives...

"Streeteasy is not a MLS service. They only offer searches through brokerage firms that are affiliated with them - corcoron, elliman, citi-habitats, and small ones like nestseekers."

You are kidding right? StreetEasy has listings from way more places than that? From what I have seen they have the most comprehensive coverage in the city.

Yeah #7 you dumb real estate industry cog, Streeteasy has very comprehensive coverage, better than I have seen on other MLS in terms of price per sq ft, increases, decreases, etc.

It is not a MLS. If it was, it would list complete details like commission rate and much more!

What about natefind.com?

Who cares about commission rates #16, its buying info that people want.

Well some people list with small companies because they have had very favorable referrals from trusted friends. I am a very very small company and am completely referral based both for buyers and sellers and have not served anyone who has anything ut the best things to say about me. Since you ask.

Agreed #19. I own a small firm and I feel that we are able to have absolute control on the quality of agent, and we provide a level of service and professionalism that is tops in the business.

whatever! those small companies con people. a bunch of liars... oh.. did i mention tax fraud? it'll be funny if Dateline NBC's Chris Hansen exposes the "SMALL COMPANY PREDATORS!" Take out all of their sales and rentals commissions and compare it with their end-of-the-year tax filings... wooo hoooo!

#3 can you elaborate on why using a small firm was a 'major headache'?

Also, I don't think agents from small firms can be any less ethical than from larger firms; I've run into some real doozies in my experience.

I think when people refer to "small companies" sometimes they are mistaking it with the smaller-midsize primarily rental companies. The really small boutique sales firms HAVE to know what we are doing as otherwise we would be eaten alive. We are not the ones who post false listings, we work almost entirely on referrals.And I do not have a state-of-the-art copy machine, I admit and I am happy to avail myself of kinkos for board packages :-)

#23, as a potential buyer, I'm not sure I'd feel comfortable with some clerk at kinko's being privy to my income tax returns. Keeping it in-house feels a bit safer to me.

#24--you know, I respect that point of view and have no answer to it. I will say that just yesterday a friend from Elliman said she was going to kinkos to pick up a board package.(who knows why--maybe she was working at home)--#23

Kinkos sells board packages?

#13 You get what you pay for. A small firm cannot match the marketing power of mega firms like Elliman & Corcoran and they tend to employ people who are less experienced. They do not have the resources that the larger firms have and the direction of the market is on the web. Check their websites before listing and compare to the others, then see if you would return to the smaller site or the more prestigious firms with more listings if you were a buyer.

plevy you are generalizing to the point of silliness. really. no question that marketing wise, the bigger firms have more to spend. but to translate that into experience is just wrong. we all know that the "mega" firms hire scores of newbies. you're going to tell me that "small firm" like gumley or the others have agents with less experience? more listings doesn't mean anything. it just helps with perception of muscle.

and I'm very happy to see those boutique firms in streeteasy

What is this nonsense about large firms having more marketing power? The only reason this could be an advantage would be if they boycotted MLS, trying to keep buyers and sellers in the dark as to what is available. They know they provide little value other than information on what is for sale/rent. If MLS came up with everything, their value would decrease dramatically. While agents do provide some value, like making appointments and doing paperwork, I'd prefer to pay them by the hour for their time. Obviously, agents don't like that idea, but it's the direction the market is moving with the internet and MLS. They may be able to fight this trend for a while, but some day I'll be calling India to make my NYC coop appointments. And if it's anything like my investment fund's Bangalore call center, the service will probably be better than dealing with most brokers.

I don't agree that larger, better known firms, provide better service or information. I'm in the process of selling my apartment and is not having good experiences. Yes... we've had several open homes and have had people come by for private showings. But trying to get feedback from our broker is like pulling teeth. And we're using a top selling broker. I had expected feedback from our broker after every showing but that hasn't been the case. I almost think that a smaller, boutique firm might provide better service.

My experience (and I have worked at one of the 2 biggies and am now independent) is that there are great brokers and idiots both in large and small firms. The notion that alot of these brokers from the top 2 have where they think they offer so much more is silly. The branding and websites are unsurpassed, no doubt. And that is great for the company, but how does that make much a difference to the client???The one thing I know for certain is that the name "elliman" or "corcoran" is very helpful to the broker in getting exclusives. Some people like and are impressed by the name. And again, there are many excellent brokers in these companies, but also many who are pretty soft and have never been forced to think creatively or find an unusual solution--if I were as complacent as some of these brokers I would be eaten alive. I need to be on top of it all the time, I have no name or reputation to coast on but my own.

You just sound like the type of person who likes to micro-manage everything #32. If you knew what you were doing you wouldn't need a broker. While you broker is busy on the phone setting appointments, you're probably calling her every half an hour for an update. Selling real estate in New York is not a Ebay auction.

#33 You have got to be kidding if you don't know why our branding and websites benefit a seller or a buyer. First of all, the market trend is all about the web and if you are a seller you will want to be on a site that attracts over 15,000 visitors per day versus a no name that no one has ever heard of with no web traffic. Second, if you are a buyer there is a wealth of information available to educate people about the market, the buying process, closing costs, and neighborhoods. I just had an experience with a "small firm" who did not even have a decent copy machine and therefore it took them several days to make copies of a board package which ultimately delayed the closing for their buyer because they missed the board meeting.Meanwhile, the buyer has no idea but these are the types of things that go on. Another "small firm" was caught advertising Douglas Elliman exclusives on Craig's List to get customers. And yet another "small firm" did not have the database to run comparables for their appraiser and had to call me to help them. All the while, their customers have no idea what is happening. Shall I go on??

Do go on #35, you are presenting a good case...... continue with facts please.

Very interesting how a topic like this descended into a battle about big firms vs. small firms ... and honestly it seems like "anonymous" is the same person arguing back and forth in many of the comments.

Pretty sure if someone finds this thread, they're just curious whether there is a MLS for Manhattan and how to access it if they for example want to sign up for a flat fee MLS listing.

A couple things to keep in mind as NYC is a pretty unique real estate market.

1. There is no MLS in New York City. There is an equivalent called the RLS which is operated by REBNY.
Source: https://www.hauseit.com/nyc-multiple-listing-service/

2. A flat fee MLS listing is very different from a traditional For Sale By Owner listing for example on Trulia. The latter does not get you access to the MLS, i.e. buyers' agents

3. Discount brokers aren't exactly new. Unfortunately NYC brokers are too intelligent to fall for it usually, so you'll need to make sure the flat fee MLS listing service you work with is geared for NYC plus doesn't have a poor reputation with the traditional broker community.

Otherwise, your mom and pop bucket shop will just get boycotted by buyers' agents and compromise your sale! Notice how angry the above "big firm" brokers were at small firm brokers. Now imagine how much more angry they'd be at a boiler room operation trying to hustle their customers for flat fees and rebates!
Source: https://www.inman.com/2016/07/25/the-underground-for-sale-by-owner-movement-in-nyc/