Is there an official New York City Multiple Listing Service that all of the city’s brokers use? Is it possible for a FSBO seller in New York City to pay a flat fee to get his or her home listed on it through a Flat Fee MLS listing package?
Although there is a Manhattan MLS operated by the Manhattan Association of Realtors (MANAR), it is not very popular and a large portion of the major brokerages have failed to join. As a result, the primary inter-brokerage database is called RLS and actually operated by a non-Realtor entity called the Real Estate Board of New York (REBNY).
Over 75% of NYC home buyers are represented by agents in New York City. A NYC FSBO seller who do not list his or her home on RLS is therefore preventing the vast majority of buyers from seeing his or her home. This can be a deadly move which may result in a low sale price or the failure to find a buyer altogether.
New York City (NYC) FSBO sellers looking to fully market a property should actually be on the lookout for a ‘Flat Fee RLS’ listing package. NYC FSBO sellers can list on the New York City MLS (Multiple Listing Service), called RLS (REBNY Listing Service), through Hauseit. A NYC Flat Fee MLS listing package also posts your home on over a dozen real estate websites, including StreetEasy, all at once for zero percent listing agent commission!