It seems the recently updated property search section of nytimes.com could soon have some competition for traffic. The past week has seen the launch of a new online brokerage for New York, and the release of another combined property and news portal is also on the horizon.
Specialist online brokerage condodomain.com has now established itself in New York City at ny.condodomain.com, four months after the Real Estate Board of New York announced its virtual office website (VOW) application.
A condodomain.com blog post says New York is "a market that has been known to be against this type of innovation," and goes on to explain the process of setting up in the new location:
"condodomain.com and its founder, Anthony Longo, hurried to New York last November as REBNY formally announced their new VOW opportunity. As the last standing city in the US which does not have a formal MLS (Multiple Listing Service), Longo realised that the VOW would allow him to expand his brokerage into New York offering the company’s competitive services and products and do it all while charging a lot less than the traditional 6 percent commission fee."
condodomain.com offers a property search across 18 other locations, with more US and Canadian cities listed as "coming soon".
"We've created efficient technology," Longo told therealdeal.com. "100 percent of our clients come from online. We don't need any retail offices."
According to a statement from the websites, ny1residential.com will replace residentialnyc.com when it is launched at the end the second quarter of this year. The website will combine news content from ny1.com with real estate information from REBNY members.
As ny1.com is part of Time Warner Cable's Local News Division, the new website will benefit from an advertising campaign on 54 Time Warner Cable channels.
residentialnyc.com, which added almost 10,000 listings from New York broker Corcoran Group at the start of this year, was first launched in September 2007 and says it has since received over 42 million "hits".
"In just a few years since its launch, residentialnyc.com has emerged as a vital, 'go-to' resource for New Yorkers looking for homes to buy or rent," said Steven Spinola, president of REBNY. "This expanded collaboration with ny1.com will deliver this essential real estate resource to a larger audience than ever before."