RISMedia's Real Estate Magazine

JUL 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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96 July 2019 RISMedia's REAL ESTATE T he New York City real estate market is truly unique, specifically revolving around the use and ownership of data. That was the major discussion among industry leaders at The State of Real Estate Data in NYC, presented by the Hudson Gateway Association of REALTORS® (HGAR) and RISMedia on Monday, May 20, at the Convene Meeting Center in New York City. Richard K. Haggerty, CEO of HGAR, started off the conver- sation by emphasizing the need for collaboration in order to streamline a fragmented data marketplace within the New York City real estate landscape, which does not cur- rently offer a central MLS. "In Manhattan, data seems to be weaponized—it's monetized like crazy. We all have a role to play to solve these challenges that every broker and agent are con- fronted with every day," he said. John Featherston, founder, CEO and publisher of RIS- Media, posed the question, "What is it that brokers are missing without having a traditional MLS?" Firstly, productivity, which trickles down to profitability. According to panelist Mitchell A. Skinner, attorney-at-law and managing member of Larson Skinner, an MLS pro- vides increased ROI through efficiency. "It seems to me that brokers and agents may be Data and the MLS: Diving Into the Unique Challenges of NYC by Liz Dominguez

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