REBNY sets co-brokerage rule.Beginning this year residential brokers who belong to the Real Estate Board of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of must offer to share their apartment listings within 72 hours of obtaining them--unless their client objects--with colleagues from other firms who are members of the board. Since REBNY REBNY Real Estate Board of New York member brokers handle 99% of Manhattan Manhattan, indigenous people of North America Manhattan (mănhăt`ən), indigenous people of North America of the Algonquian-Wakashan linguistic stock (see Native American languages). apartment listings, the new "universal co-brokerage system" presents consumers with the maximum choice from apartments on the market. the policy was set by a resolution of the REBNY Residential Brokerage Division's Board of Directors and ratified rat·i·fy tr.v. rat·i·fied, rat·i·fy·ing, rat·i·fies To approve and give formal sanction to; confirm. See Synonyms at approve. by the organization's Board of Governors. REBNY president Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Spinola pointed out that "Under the new REBNY 'universal co-brokerage system,' many more brokers and, therefore, many more potential buyers and renters will be made aware of an apartment's availability. As a result, owners' properties will have far greater exposure to the market." Spinola emphasized that using a REBNY residential broker is the only guarantee of having such service. |
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