…is very similar to Manhattan.

Here, in the Hamptons aka “The Wild, Wild East”, it has been common practice for years, for agents and brokers to selectively co-broke their listings, not giving access to some agencies. It’s very similar to how cliques form in junior high   While it’s against the Realtor Code of Ethics it might even be considered a “restraint of trade” by the Department of State or the DOJ.  It has yet to be tested.  

Recently, RealNet Solutions, the local provider of a back of house listing management system that coordinates with Hamptons Real Estate Online (HREO.com), started offering an electronic listings exchange system called OREX (Open Realnet Exchange). 

For the first time, instead of faxing listings and co-brokes to each other, agencies who use RealNet can electronically share their listings. The question is: will they?

One step forward…

See this article, by Lauren Elkies about Manhattan co-brokering. Sound familiar?

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June 2007

Co-brokerage and commissions in conflict 

By Lauren Elkies

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