David Schlamm

City Connections Realty has launched its own Virtual Office Website, or “VOW,” the company announced today. The firm’s decision to launch the VOW, which allows clients to see listings outside of the company’s exclusive properties, comes on the heels of a widespread VOW trend in the industry. Last week, Fox Residential announced its VOW, while Prudential Douglas Elliman and Century 21 NY Metro launched their own versions of the listing platform earlier this year. While numerous brokerages have the program, David Schlamm, City Connections founder and president, said that he thinks his firm’s version stands apart from others. “It would have been easier and a lot less expensive for me to simply put one VOW on our homepage, but I didn’t think it would benefit out agents as much,” Schlamm said of the VOW, which can be accessed from each agent’s individual page. TRD

The Real Deal has ranked the top listing agents of the week base [more]

  
From left: 1600 Broadway, Cipriani Club Residences and 555 West 23rd Street

From the March issue:One in every 13 homes is in pre-foreclosure. Half are listed for rent or sale. This predicament isn’t taking place in the outer boroughs. It’s happening in Manhattan at a luxury condo. The building is one of dozens in Manhattan where multiple owners have fallen behind on their mortgages. This month, The Real Deal put together a top 10 list of buildings in Manhattan with the most units that received a pre-foreclosure filing in the last year. [more]

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City Connections Realty has become the latest New York City firm to change its commission structure. The brokerage will now offer sales agents the option of receiving between 65 and 85 percent commissions, marketing support and no desk fees. The firm will also hang onto its current commission model, which offers agents 90 percent of the commission on transactions in exchange for a monthly desk fee of $825 for agents who choose to work remotely, or between $1,000 and $1,325 for agents who want to be based in the office in a “very large cubicle,” said Brian Huang, the company’s sales manager. The new commission structure is part of an aggressive recruiting campaign for City Connections, Huang said. According to the City Connections Web site, the company currently has nearly 100 agents. [more]