Competing residential firms unite to electronically exchange information

Real Estate Weekly, Feb 19, 1997

According to the chairperson, JoAnne Kennedy, a principal of Coldwell Banker Hunt Kennedy, "Finally, our industry will catch up with readily available technology. It's a winning idea for everyone - the brokerage firms, sales agents and most important, our clients and customers whose needs we serve."

Presently co-brokerage information is transmitted by fax and the mail. There is no central multiple listing system in New York City.

All the founders of this new service are members of the Real Estate Board of New York, which will be hired to house and operate the exchange. Research and development of the listing exchange began two years ago by several of the founding firms and has been spearheaded by Christopher Costello, treasurer of Ashforth Warburg Associates, who will continue as Technical Director of the exchange. According to Costello, "The listing exchange should be up and operating within the next four to six months. SST Computer Services, Inc., has been selected as the vendor for the system. SST is already noted for providing many firms with their in-house computerized listing systems."

"The listing exchange should not be confused with a typical multiple listing service," said Esther Kaplan, president of The Corcoran Group, and vice chairperson of the exchange. "The voluntary basis of co-brokerage of listings that now exists in the Manhattan market will continue, enhanced by this endeavor."

Hall Willkie, executive vice president of Brown Harris Stevens and secretary-treasurer of the exchange, said "Now we will not only be more confident of the accuracy of the information that hits our data bases, but we'll also be able to send and receive photos, floor plans, financials and even audio descriptions of properties."

According to Shah Goodstein of the Goodstein Organization, Ltd., who serves as head of the Membership Committee, "REBNY members and non-members will be encouraged to join the exchange to bring everyone into the same communications network. In a very short time, we expect every established residential brokerage firm in the city to become a member."

Other members of the exchange's Board of Directors include Barbara Fox, Fox Residential Group; Kay Brover, Douglas Elliman; and Nancy Packes, Feathered Nest, Inc. The other founding firms are Bellmarc Realty; The Clayman/Itzkowitz Realty Group; Charles H. Greenthal & Co.; Gumley Haft Kleier; The Halstead Property Company; D.J. Knight Company Ltd.; Wm. B. May Co. Real Estate, Inc.; Olshan Realty Inc.; Prudential MLB Kaye International Realty; Sloane Square, L.L.C.; Sotheby's International Realty and Stribling Associates, Ltd.