Why do so many of the ads list the property as a condo but describe the unit as a coop in the main body?

Asked by Joseph, New York, NY Sat Aug 27, 2011

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Elena Ravich, Esq.’s answer
Elena Ravich,…, Agent, New York City, NY
Mon Jun 3, 2013
It may be by mistake or it may be a marketing trick by a listing agent, since condos are more popular and their price is in general 35-40% higher.
To make sure the apartment is a condo, you should see 2 separate monthly charges there in the listing, common charges and real estate tax. Coops only have maintenance charge.
You can also ask your agent to verify all the info. This is what we are for. Would be glad to help you in your search.

Elena Ravich
Rakita Realty
646 593 7297
0 votes
Jenet Levy, Agent, New York, NY
Sat Aug 27, 2011
If it is a condo, it should be described consistently as a condo, and the same for a co-op. They are very different animals. If you are referring to here, on Trulia, I am in complete agreement that there is a lot of erroneous information in the listings. That is because Trulia "scrapes" other webites, and does not check the content.
If you are serious about buying, the best thing would be to work with a skilled, experienced agent. We use the agent database (and as you can see in my signature, can give you a window into that database), streamline your search, negotiate on your behalf, and take you through all the steps of the buying process.
Sellers all have agents and so should you to level the playing field.

Jenet Levy
Halstead Property, LLC
212 381-4268
http://jenetlevy.halstead.com for all NYC listings
1 vote
Marjorie Dyb…, Agent, New York, NY
Sat Feb 2, 2013
There are very few markets with a significant amount of coops available and as a result national sites often don't include COOP as a property type. If you see RET (Real Estate Taxes) broken out as a separate monthly cost, or if the ad refers to common charges (not maintenance), then you are probably looking at a true condo. If they ad refers to MTC (maintenance) and there is no mention of RET, you probably have a coop on your hands. About 80% of our inventory in Manhattan are coops, so assume its a coop unless you see otherwise...
0 votes
David Benjam…, Landlord, New York, NY
Wed Aug 31, 2011
A good tip would be to look at the agent's remarks at the bottom of the listing. they would almost certainly be right regarding whether a unit is a coop or condo..

In the past, I've closed a co-op in less than a month before, by the way. Co-ops can be easy to deal with sometimes.
0 votes
Joseph Hasti…, Agent, Bayside, NY
Mon Aug 29, 2011
Hi Joseph. I've not encountered what you refer to on Trulia. As for other sites, it may just be a glitch as many ads are loaded in from other sources that the listing agent themself.

If you are currently looking to purchase in Manhattan and you want a Condo, they are not hard to find. If you are serious to purchase, you should absolutely be working with a real estate professional.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Aug 28, 2011
Unfortunately, not all sites give the option to choose condo, or co-op; in some instances it may not have been specified by the listing agent, etc.; if looking to buy/rent, consider working with an agent of your own, he/she will be your best guide.
0 votes
Armen Meschi…, Agent, New York, NY
Sun Aug 28, 2011
Hi Joseph,
General perception is that a real estate aget goes to each individual site and plugs listing information. The fact is that in most cases it's plugged once into an ad engine that pushes the listing out to various sites. The code on each site is set up differently however, so data is not read and posted the same way. Even though the web had given a consumer agreat tools, it still leaves much to be desired.

If you do searches for condos only on a site and a lot of results come up, expect to find coops and condops
among them.
0 votes
Egen Warner…, Agent, New Rochelle, NY
Sat Aug 27, 2011
Most websites wont allow the choice of coop. The choice is usually condo or other. Using other will stop a realtor from reaching qualified buyers since other is so vague. I usually list my coops under the condo section and make sure that in the headline it states its a coop.

Coops are popular in New York and Chicago. So choice for them on sites are always limited. I know of many Realtors that have complained about the choices but the websites that are based out in CA and usually west coast states still dont see the benefit of having coop as a choice.

For me its not a bait and switch and I know of other Realtors that also dont do this. I dont speak for all Realtors however. But any realtor paying for advertising trying to get a coop sold like myself doesnt want to waste money their time and the buyers time so we make sure we mention enough times in the body that the property is a coop.

That was a great question thanks so much for asking it.

at your service,

Egen Warner
Associate Broker
Coldwell Banker
Web Reference:  http://www.EgenWarner.com
0 votes
Jennifer Chi…, Agent, New York, NY
Sat Aug 27, 2011
That's probably because they are trying to do a bait and switch on you. This is why you need to be careful on these open sites.

You now have the opportunity to search approximately 20,000 exclusive listings, representing the entire database of residential listings available through the membership of the Real Estate Board of New York (REBNY).

These are the most accurate listings you can find in NY because they come from the brokers themselves; there is no bait and switch, no duplicates, and no opens; and are updated every hour.

Jennifer Chiongbian
SVP/ Associate Broker
Rutenberg Realty
0 votes
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