Since these Manhattan based firms control the “brownstone” Brooklyn real estate market (areas like Williamsburg, Park Slope and Brooklyn Heights), there’s no need for them to also subscribe to the BNYMLS because most of the listings on BNYMLS are in Southern Brooklyn.
Moreover, joining an additional broker organization is expensive. For example, REBNY charges each additional licensed real estate salesperson $250 for the first year of REBNY membership. The cost for associate brokers and principal brokers is over $1000 per year.
Therefore, it doesn’t make sense for many of NYC’s largest real estate brokerages to also pay to join BNYMLS because of the even higher cost of joining that organization. Member firms are required to buy stock in BNYMLS which is estimated to cost between $10,000 to $20,000. Additionally, each licensed real estate salesperson must pay $160 to join.