REBNY’s revamped residential listing service

By Steven Spinola

For more than three decades, The Real Estate Board of New York has actively sought to encourage collaboration among its members in the residential real estate market through the broker to broker Residential Listing Service (RLS). After years of planning and behind-the-scenes work, the RLS underwent a major upgrade last fall and exemplifies the residential real estate industry’s technological advances.

The REBNY RLS has, since its launch in 2003, allowed all residential REBNY member firms – both large and small – to view and share their exclusive listings. Within a year of its launch, the number of participating residential brokers and agents more than doubled. Governed by the rules and regulations of REBNY’s Universal Co-Brokerage Agreement and Code of Ethics, the RLS allows thousands of residential real estate agents throughout the City to work together and ensure the best results for their customers.

In September 2013, 10 years after its launch, REBNY successfully completed a two-year process to upgrade the RLS’s technology to operate on RETS (Real Estate Transaction Standard), the national industry standard for the exchange of real estate listings data.

The new RLS, operating on RETS, has improved the day-to-day business operations of participating brokerage firms and enabled them to operate more accurately and efficiently and better serve their clients. The addition of real-time audit controls is but one new feature that now makes it easier to track down issues, improve accuracy of shared listing data, and provide technical support for agents. The ultimate beneficiary is the consumer – both seller and buyer – by having access to information that is speedy, timely and, most importantly, accurate.

REBNY now has an RLS Board of Directors to oversee the operations of the RLS, with Co-Chairs Steven Goldschmidt, Senior Vice President of Warburg Realty, and Stephen Kotler, COO of Douglas Elliman.

Freddy Sarabia, who joined REBNY in late 2012 as Real Estate Listing Service Director, manages the day-to-day operations and technical aspects of the new platform, drawing from years of experience working with sophisticated listing systems in other markets.

Technology for the now state-of-the-art RLS engine is provided by Stratus Data Systems – the technology provider for some of the largest Multiple Listing Services in the U.S. and Canada and recently voted the top real estate technology provider at Clareity Consulting’s annual MLS Executives Conference held March 6-7 in Scottsdale, Arizona.

Over the next 6 to 12 months, the new RLS hopes to introduce nationally recognized products and services to continue to allow the RLS to keep its residential members at the forefront of technological advances that can help them improve their business.

For more information, please contact RLS Director Freddy Sarabia at fsarabia@rebny.com

In other REBNY News:

  • On April 9th, we are starting a seminar series: “Legal Line LIVE!” with REBNY Broker Counsel Neil Garfinkel. This seminar will take place quarterly. The seminars are open to Residential Principals and Managers. RSVP to adonovan@rebny.com.
  • April 10th is deadline for submissions for the Retail Deal of the Year 2013 Awards. For official contest rules visit rebny.com.
  • April 25th is REBNY’s Rental Clinic Seminar, “Ten Things Agents Should Do Daily To Build Their Business,” led by Jeffrey M. Shleider of Miron Properties, LLC, and “Rentals For Sales Agents (Who Don’t Usually Do Rentals)”, led by Luciane Serifovic of Douglas Elliman Real Estate. The event is from 9:30 to 10:30 a.m., free for REBNY members, and limited to 100 people, to make a reservation visit rebny.com
  • On May 6th, the Sales Brokers Committee will present its Most Ingenious Deal of the Year Award at the 70th Annual Cocktail Party at 101 Club. The event will take place from 5:30 to 7:30 p.m., and tickets are $60. For more information and to register, please visit rebny.com.

  • On May 29th, REBNY is holding its 11th Annual Commercial Management Leadership Breakfast at the Hilton NY in the Grand Ballroom. Coffee will be served from 7:30 a.m. to 8:30 a.m., and the program will take place from 8:30 a.m. to 10 a.m. For more information contact Cindy Ramotar at cramotar@rebny.com.

  • On June 10th, the winners of the Retail Deal of the Year 2013 Awards will be announced at a cocktail party hosted by the Retail Committee. The deadline to submit award nominations is Thursday, April 10 at 5:00p.m. For official contest rules visit rebny.com.