REBNY Successfully Transitions to Stratus RLS Engine

Long-planned Upgrade to RLS Operating System Will

Help Brokers Better Serve Clients

 

New York, NY – September 19, 2013: The Real Estate Board of New York (REBNY) has successfully completed the much-anticipated upgrade of its REBNY Listing Service (RLS) to a new state-of-the-art “engine” operated by Stratus Data Systems, one of the nation’s leading providers of listing systems.  Having worked meticulously with each of the RLS vendors on the transition to the new engine for more than a year, participating RLS brokerage firms will now be able to take advantage of a powerful tool to improve their day-to-day business operations and help brokers better serve their clients

REBNY’s RLS, which is used by thousands of participating New York City residential real estate agents to share sales and rental listings, now operates utilizing RETS (an acronym for Real Estate Transaction Standard), the national industry standard for the exchange of real estate listings data. The RETS-compliant system, will enhance the compatibility of the RLS with other real estate technology applications. The new engine will enable the RLS and member firms to integrate the newest marketing and transaction management software and applications available nationwide. The Stratus transmission engine also provides RLS participants with real-time access to real estate listings, provides each vendor with real-time audit controls, and improves the reliability and integrity of listings data.

“After much planning and preparation, the switchover on September 18 to Stratus’ improved and RETS-compliant system was overwhelmingly successful and went off without a hitch,” said Steven O. Goldschmidt, Senior Vice President of Warburg Realty and co-chair of the RLS board. “The new system provides participating firms with a state-of-the-art transmission engine in an increasingly technology-savvy market and will help brokers do business more efficiently. We are confident that the Stratus system will bring us into a new era for REBNY and the RLS.  Participating firms will quickly realize the value of the enhanced compatibility.”

"I am very excited for the transition to the new RLS system,” said Daniel Eaton, Listings Department Manager for Douglas Elliman, who manages the in-house listings system used by Douglas Elliman’s approximately 2,000 brokers in New York City. “It looks to be a dramatic improvement over the existing system with a much higher degree of accuracy and reliability. We expect to see a much larger percentage of listings coming through this system and that the listing information will be more comprehensive and useful to our agents when they run their searches. Agents will no longer need to scour multiple sites and with the addition of an audit tool, it will make it easier and faster to track down issues and support our agents."

REBNY has established an RLS board to oversee the operations of the RLS, which includes Mr. Goldschmidt and Stephen Kotler, COO of Douglas Elliman, as co-chairs.  Freddy Sarabia, who joined REBNY in late 2012 as Real Estate Listing Service Director, will manage the operations and technical aspects of the new platform drawing from years of experience working with sophisticated listing systems in other markets.

Goldschmidt added that completing the transition was the result of constant communication and interaction with multiple vendors used by participating member firms.  “The RLS board, working in close coordination with Stratus and Freddy Sarabia, addressed and successfully resolved technical issues and questions that arose during the transition to ensure the changeover would be completed with no negative impact on the day-to-day work of brokers who use the system,” he added.

"We applaud the effort and commitment of all those involved in this process, said Jonathan Greenspan, President of OLR, one of the largest listings system providers serving New York City brokerage firms. "Hopefully we're looking at a game changer in the way the community shares and transmits information."

Stratus Data Systems was selected through a competitive bidding process that commenced in late 2010. Founded in 1982, the company is the technology provider for some of the largest Multiple Listing Services in the U.S. and Canada.

“We’re thrilled to add REBNY’s RLS to our diverse client base which includes major multiple listing services throughout North America,” said Carlos Grass, President of Stratus Data Systems. “Our constant research and development initiatives ensure that our clients benefit from the most current and reliable technology to exchange listings data, which is central to every broker’s business.”

About The Real Estate Board of New York  

The Real Estate Board of New York is the city’s leading real estate trade association with more than 13,000 members.  REBNY represents major commercial and residential property owners and builders, brokers and managers, banks, financial service companies, utilities, attorneys, architects, contractors and other individuals and institutions professionally interested in the city’s real estate.  REBNY is involved in crucial municipal matters including tax policy, city planning and zoning, rental conditions, land use policy, building codes and legislation.  In addition, REBNY publishes reports providing indicators of market prices for both the residential and commercial sectors. Please visit us online at www.REBNY.com.

About Stratus Data Systems

Headquartered in Katonah, New York, Stratus Data Systems® (Stratus), established in 1982, is the technology provider for some of the largest Multiple Listing Services in the U.S. and Canada including the Toronto Real Estate Board (TREB) with 30,000 agents and the Multiple Listing Service of Long Island (MLSLI) with 21,000 agents.

Stratus' ongoing research and development keeps its systems at the forefront of MLS technology and has resulted in systems that are recognized for technical excellence, reliability, and exceptional system performance. For more information visit www.stratusmls.com.