What Is the REBNY RLS Listing Service in NYC: https://www.hauseit.com/rebny-rls-nyc/
Calculate Seller Closing Costs in NYC: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/
The REBNY Listing Service, commonly known as the REBNY RLS, is the de facto Multiple Listing Service in New York City.
The REBNY RLS is not technically a Multiple Listing Service because REBNY (also known as The Real Estate Board of New York) seceded from the National Association of Realtors in 1994.
An MLS is defined as a broker-to-broker shared listings database operated by a local Realtor association. However, real estate agents in New York who are members of REBNY are not called Realtors, which is a trademarked designation for agents who are NAR members.
As a result, the REBNY RLS is not technically an MLS, but rather a private, inter-broker shared listings database for REBNY residential brokers and agents which functions in a similar manner to an actual MLS.
The RLS in New York City operates like the hub of a wheel. Data is sent back and forth from brokers who interface with the RLS either through third party data software vendors like Perchwell, Nestio or RealtyMX, or through in-house systems operated by brokerage firms such as Taxi and Limo.
Data is sent to public search websites such as the New York Times, StreetEasy, Zillow and Homes.com either from the RLS or directly from the RLS software vendors.
Can I List My Home on the Rebny RLS For Sale by Owner?
The RLS in NYC is meant for member firms and agents only, and it is not accessible by the general public. As a result, you cannot post your home For Sale By Owner on the REBNY RLS.
This lack of access to buyer brokers is especially harmful for FSBO sellers in NYC because of the fact that over 75% of buyers are represented by buyer brokers. Not listing your home in RLS is akin to advertising your listing to only a quarter of the potential buyer base, and this obviously impacts the amount of traffic and number of offers which you may receive.
However, it is possible to advertise your listing and offer commission to buyers’ agents on the RLS NYC through an Agent Assisted FSBO, otherwise known as a Flat Fee MLS Listing in NYC.
In an Agent Assisted FSBO listing, your home is listed on the RLS and dozens of popular websites like The NY Times all at once for a small, flat-fee through one of Hauseit’s brand name partner brokers - without having to pay a traditional listing agent percentage commission.
If you find an unrepresented buyer through the service, you’ll save the full 6% in broker fees on your sale. If you accept an offer from a buyer who is represented by a buyer’s broker, you’ll only owe the percentage commission to the buyer’s agent which you listed in RLS.
List with a Full Service Agent for 1%: https://www.hauseit.com/agent-managed-listing/
#hauseit #hauseitnyc
https://www.hauseit.com
Calculate Seller Closing Costs in NYC: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/
The REBNY Listing Service, commonly known as the REBNY RLS, is the de facto Multiple Listing Service in New York City.
The REBNY RLS is not technically a Multiple Listing Service because REBNY (also known as The Real Estate Board of New York) seceded from the National Association of Realtors in 1994.
An MLS is defined as a broker-to-broker shared listings database operated by a local Realtor association. However, real estate agents in New York who are members of REBNY are not called Realtors, which is a trademarked designation for agents who are NAR members.
As a result, the REBNY RLS is not technically an MLS, but rather a private, inter-broker shared listings database for REBNY residential brokers and agents which functions in a similar manner to an actual MLS.
The RLS in New York City operates like the hub of a wheel. Data is sent back and forth from brokers who interface with the RLS either through third party data software vendors like Perchwell, Nestio or RealtyMX, or through in-house systems operated by brokerage firms such as Taxi and Limo.
Data is sent to public search websites such as the New York Times, StreetEasy, Zillow and Homes.com either from the RLS or directly from the RLS software vendors.
Can I List My Home on the Rebny RLS For Sale by Owner?
The RLS in NYC is meant for member firms and agents only, and it is not accessible by the general public. As a result, you cannot post your home For Sale By Owner on the REBNY RLS.
This lack of access to buyer brokers is especially harmful for FSBO sellers in NYC because of the fact that over 75% of buyers are represented by buyer brokers. Not listing your home in RLS is akin to advertising your listing to only a quarter of the potential buyer base, and this obviously impacts the amount of traffic and number of offers which you may receive.
However, it is possible to advertise your listing and offer commission to buyers’ agents on the RLS NYC through an Agent Assisted FSBO, otherwise known as a Flat Fee MLS Listing in NYC.
In an Agent Assisted FSBO listing, your home is listed on the RLS and dozens of popular websites like The NY Times all at once for a small, flat-fee through one of Hauseit’s brand name partner brokers - without having to pay a traditional listing agent percentage commission.
If you find an unrepresented buyer through the service, you’ll save the full 6% in broker fees on your sale. If you accept an offer from a buyer who is represented by a buyer’s broker, you’ll only owe the percentage commission to the buyer’s agent which you listed in RLS.
List with a Full Service Agent for 1%: https://www.hauseit.com/agent-managed-listing/
#hauseit #hauseitnyc
https://www.hauseit.com
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