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New York

Corcoran, Elliman spurn REBNY site

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The city’s two largest residential brokerages, the Corcoran Group and Prudential Douglas Elliman, said today that they do not intend to participate in the public listings portal that the Real Estate Board of New York is developing. Corcoran and Elliman executives cited the portal’s proposed joining costs–which REBNY recently announced would cost larger brokerages more than smaller ones–and the fact that both have developed their own comprehensive Web sites, as the main reasons they decided against participating. Sami Inkinen, co-founder of Trulia.com, which was picked to develop the portal, told The Real Deal there was no firm deadline for firms to join the portal. “There’s no such thing as black and white,” he said. “You might join today. I might join tomorrow.” more [NYT]