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"Under our scenario," Mr. Spinola said, "you will still have to go through the listing broker to get into an apartment".
Of course, that poses a problem for buyers who don't want to go through the listing broker to see the house.
Since there is no Multiple Listing Service in Manhattan, and since the only way to see most apartments, even with your own broker, is to go through the listing broker, many Manhattan brokerages will include whatever information they have on a particular Internet listing, including, in some cases, the address.
Virgin Money is planning to raise about £150m through the listing.
Last week, R.B.S. raised $1.3 billion through the listing of its insurance division, Direct Line, which it was also required to sell as part of its government bailout.
Globally there have been over $21 billion worth of canceled or postponed flotations, double the amount raised through the listing markets.
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