Aiming to increase its real estate presence, the largest independent brokerage in Brooklyn, Fillmore Real Estate, finally joins the Real Estate Board of New York (REBNY).
Fillmore President John Reinhardt shared in The Real Deal how the firm has come up with this unanimous decision to join the REBNY mainstream, which he had long been considering since 2011. He also shared that his offices around North Brooklyn had already joined REBNY last year.
Seeing how other firms like the Sheepshead Bay-based firm, which did about $500 million sales in 2015 and will add about 400 listings to REBNY RLS, have succeeded in joining REBNY, Reinhardt understood why the joining is a perfect move.
"In order to compete in [that] market our agents wanted to join REBNY, because that's where most of the listings were shared," Reinhardt added.
Previously a member of the National Association of Realtors, Fillmore counts 335 agents in 14 offices. But, it left NAR due to some business issues, including NAR and REBNY's disagreement on how much REBNY owed NAR which had led to REBNY's withdrawal of membership back in 1994. Reports show that Fillmore's decision to cut its ties with NAR is influenced by the irreconcilable disagreement between NAR and REBNY.
The Real Deal reveals that NAR requires all its brokers to be a member of the association. According to the CEO of the Brooklyn Board of Realtors, Rich Schulhoff, such requirement is an "all-in rule" which certainly explains why a lot of companies prefer not to join NAR.
In recent years, REBNY has been trying to expand membership in the outer boroughs in the hope of helping other real estate firms and the consumers in general.
"When we all work together, everyone wins," REBNY President John Banks said, implying that Fillmore's joining into the fold means a "long and mutually beneficial relationship."
Next week, Fillmore Real Estate will open its 15th office in Williamsburg.
