T
he New York Residential Agent Continuum, a trade group founded in 2018 by a handful of residential agents, is integrating into the American Real Estate Association. The deal, which did not involve any financial transactions, will allow NYRAC to operate under the umbrella of AREA, a rival to the National Association of Realtors. As part of the agreement, NYRAC's nearly 200 members will gain access to enhanced resources and expanded networking opportunities.

    American REA, co-founded by Jason Haber and Mauricio Umansky, aims to establish itself as a leader in the real estate industry, with over 5,000 members nationwide. The association is planning to expand its local chapters across the country, including one in New York. NYRAC members will not be required to join American REA, but they are encouraged to do so.

    The partnership between NYRAC and American REA is seen as a significant step towards challenging NAR's dominance in the industry. The two groups plan to host a town hall meeting in February to discuss the impact of "City of Yes" on the real estate market. Haber and Umansky, who launched American REA last year, are seeking to create an alternative to Multiple Listings Services, which currently boost NAR's position in the industry.