NAR announces branch for Manhattan brokers.

Seeing a void in services available to Manhattan real estate professionals, a group of industry members has formed the Manhattan Association of Realtors.

The group, a local chapter of the National Association of Realtors, has over 600 members and 36 firms from residential, management and mortgage brokerage businesses. It was approved May 19 in Washington, D.C. by the national organization's board of directors.

"With this decision by NAR, we are now part of the national real estate scene, instead of an island unto ourselves," said David Michonski, president of the Manhattan Association of Realtors and chief executive officer of Coldwell Banker Hunt Kennedy.

The Manhattan association first organized and elected officers last fall. It then requested that the Bronx-Manhattan board relinquish the Manhattan territory, which it had assumed in 1995. Initially the Bronx group refused and the association had to petition NAR to reassign the territory, but before a panel that would have decided the issue convened, the two sides reached a compromise. Under the agreement, the Bronx group relinquished territory south of 145th Street and changed its name to the Bronx-Manhattan North Board, board members said.

Current board members are Michonski; Steven Leader, president of Leader Realty; Cornelia Netter, head of Netter Real Estate; Cynthia Crowley, a broker and relocation specialist with Olshan Realty, Inc.; John Wollberg, head of ATCO Residential Group, Inc; Jed Garfield, of Leslie J. Garfield & Co. Inc.; Matthew Halloran of Massey Knakal Realty Services; and Ellie Johnson, director of relocation of Fenwick-Keats Realty. Also involved in the effort are Laura Rubinfeld, vice president of corporate affairs for Coldwell Banker Hunt Kennedy, who serves as administrative executive and Edward Sumber, who serves as legal counsel to the association.

With the formation of the new group, it will be the first time Manhattan has had an NAR-affiliated organization since 1993, when the Real Estate Board of New York terminated its relationship with NAR. Board members insisted, however, that motivation for forming the group did not stem from dissatisfaction with REBNY. In fact, many members will hold memberships in both organizations, board members said.

"This was done with REBNY's blessing, this is not a riff with REBNY," Michonski said.

REBNY president Steven Spinola said the board terminated its relationship with NAR because NAR wanted REBNY to pay higher membership dues than the board was willing to pay.

He said there were discussions about reestablishing an affiliation with NAR, but the board of directors for the residential division of REBNY decided against it. However, he welcomed the formation of the Manhattan association.

"They've all told me that they plan to keep their REBNY membership. We welcome their participation in REBNY and the new entity," Spinola said.

Board members said the decision to form the Manhattan association was unrelated to industry efforts to create a multiple listing service, but they admit that a prime motivation for creating it was so that members could place their property listings on realtor.com. The website is maintained by the National Association of Realtors and would give listings nationwide exposure.

"Realtor.com is the most heavily trafficked real estate website in the world, with an average of 120 site visits per listing per month," Netter said.

Crowley said another advantage is the worldwide referral network among NAR affiliates.

"To be in the relocation business and not be part of the largest group of real estate brokers in the world makes no sense," she said.

As a commercial broker, having an NAR affiliation is required for membership to professional organizations like Counselors of Real Estate and the Society of Industrial and Office Realtors. Before the Manhattan association was created, real estate professionals were forced to join NAR-affiliated groups in Westchester County, Long Island, or other locations. About 40 percent of the Manhattan association work in the commercial sector.

"To be in the financial capital of the world and not have an affiliation was incomprehensible to me," Leader said.

Other advantages to being a member of the Manhattan association are group discounts and participation in the industry standard trade shows held twice a year by NAR.

"Members will be active in the New York Association's lobbying efforts and be part of the mainstream rather than off on the side. There is just too much happening in our industry today to think we are an island unto ourselves here in Manhattan," Wollberg said.

Members of the Manhattan association will also subscribe to the National Association of Realtors ethics code.

"For me, it is ethical standards that are most important. Members will now subscribe to a national set of standards and thereby distinguish themselves from others is our marketplace. I think that's powerful," Garfield said.