From The Real Deal, December 21, 2009:

“This summer, Manhattan got its first VOW, an online brokerage known as CBS 2 Real Estate Market, located at CBS2REM.com. Halstead is the first of the city’s major brick and mortar firms to go through the process of adding VOW capabilities … and is now just waiting for the official paperwork. The change comes in conjunction with new individual agent Web sites the company recently unveiled.”

Will new virtual firms pave way for full MLS?

With online brokerages now allowed to advertise other firms’ exclusives, some say listing sharing is next

December 01, 2009 07:00AM by Candace Taylor

“At Manhattan’s first VOW, which is known as the CBS 2 Real Estate Market, visitors to the site, CBS2REM.com, see a detailed map of the New York area. They can click on a neighborhood and scroll through a series of brightly colored sales and rental listings, including exclusive listings from firms like Prudential Douglas Elliman and the Corcoran Group.”

A new breed of online brokerage is springing up in New York, altering the landscape of real estate sales in Manhattan and worrying traditional firms, who fear the changes may hurt their business.

In the past, New York firms have contended with Web aggregators like StreetEasy and Trulia, which gather and post information on local brokerage listings.

But thanks to a recent settlement between the federal Department of Justice and the National Association of Realtors, the Real Estate Board of New York is now sharing all of its members’ listings directly with online brokerages, known as “Virtual Office Web sites.”

These VOWs, as they are called, allow consumers to view those listings — including those from other firms — online.

Read the full article from The Real Deal here.