Brokerage firms not rushing to eliminate titles

A new opinion letter from the New York Department of State about the misuse of corporate titles by real estate agents has drawn a muted response from the city’s brokerages.

Peters

The one-and-half-page letter said the use of titles such as “vice president” was dishonest and misleading, amounting to prohibited false advertising unless the holders of real estate licenses actually were corporate officers.

“We’ll wait and see what unfolds,” Continue reading

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Experts weigh in on ‘why’ of numbers, but how?

Jonathan Miller of the Miller-Samuel appraisal firm released the latest statistics in his report for Prudential Douglas Elliman on Friday.

So did Greg Heym from Halstead.  And Pamela Liebman from Corcoran.

Housing price and sales statistics are regularly released by a number of others, including Case-Shiller, Radar Logic, the National Association of Realtors, PropertyShark.com and CoreLogic.

Invariably, the experts also explain the numbers.  My advice is not to put an excessive amount of stock in what they say, Continue reading

Hard to ignore, VOWs face uncertain future here

Boston-based CondoDomain, a Web-based discount real estate brokerage, is now a member of the Real Estate Board of New York, offering offers a VOW (Virtual Office Web site), reports the Real Deal. That means that customers who log onto the company’s New York site can browse through the listings in REBNY’s database, which is far from comprehensive.

CondoDomain founder and  told the Real Deal that the appearance of VOWs in New York City has opened the floodgates for new companies like his to penetrate the lucrative New York City market.

“The VOW will lay the groundwork for companies like ours to come in and compete,” CEO Anthony Longo told the publication. Continue reading