HGAR and LIBOR Prepare Groundwork for Creating New Regional Multiple Listing Service
Friday, February 2, 2018
Westchester and Long Island, New York— February 1, 2018 — The Hudson Gateway Association of REALTORS® (HGAR) and the Long Island Board of REALTORS® (LIBOR) have recently agreed on the framework for forming a new Multiple Listing Service (MLS) to serve the New York metro area including: Westchester, Putnam, Rockland and Orange Counties, as well as the Bronx, Manhattan, Brooklyn, Queens, Nassau and Suffolk Counties. The newly formed regional MLS would consist of approximately 36,000 Realtor® subscribers.
In June 2017, leaders of HGAR and LIBOR, along with their multiple listing service leadership, met to discuss the possibility of forming a regional MLS to serve the New York metro area. The group agreed to explore a structure that would achieve several key goals prompted by evolving broker expectations mandating that MLSs change their strategies to satisfy member needs for more accurate and robust data across a larger geographic area. “A primary objective is to create a seamless flow of data for brokers and agents within the New York Metro area,” said Richard Haggerty, HGAR CEO.
Both Realtor® groups look forward to obtaining final approvals from their Boards of Directors within the next six months. “The new MLS would improve services resulting in operational efficiencies, increased economies of scale, and enhanced technology, that will enable members to better serve the buying and selling public.” said Joseph Mottola, LIBOR CEO.
The Hudson Gateway Association of REALTORS® (HGAR) is a not-for-profit trade association consisting of almost 11,000 real estate professionals doing business in Westchester, Putnam, Rockland, and Orange counties as well as the Bronx and Manhattan. The Hudson Gateway Multiple Listing Service (HGMLS) is owned by HGAR. The Long Island Board of Realtors®, Inc. (LIBOR) is a not-for-profit trade association consisting of 25,000 real estate professionals working in Nassau, Suffolk, Queens and Brooklyn. The Multiple Listing Service of Long Island, Inc. (MLSLI) is a subsidiary of LIBOR.
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