Home Selling in Bensonhurst>Question Details

Sage, Home Owner in Brooklyn, NY

My preferred RE agent is with The Real Estate Board of New York, not the Brooklyn MLS.

Asked by Sage, Brooklyn, NY Wed Feb 22, 2012

He says that his firm has a larger reach than the small RE agent .

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Answers

5
Frank Pennacchi’s answer
I have been listing homes in Bensonhurst for over 24 years and I never, repeat never had a Buyer tell me they saw my listing on a REBNY web site or from back in the day, a local ad from a REBNY agent. I find it hard to beleive someone from the neighborhood feels more comfortable with someone from the outside. I was born, raised and breed on 18th Ave and 70th St and even when I moved to NJ with my family I looked for, and found a RE/MAX agent that came from Brooklyn. I just have more of a trust when I'm working with someone who went to the same different school as me. If you're from Bensonhurst you know what I mean, I travel every day from NJ to my Brooklyn office so If you need an ear call me.
Good Luck.
0 votes Thank Flag Link Sat Mar 3, 2012
Sage,

I see this is a continuation to your previous question. Both Kathy and Mitchell gave you great answers.

One thing I’ll caution you about and feel free to confirm this with your agent. From my experience dealing with small and large Brooklyn firms which belong to MLS, I quickly learned that not all of their listings are placed on MLS. I also talked to sellers who were absolutely clueless if their apartment is in fact on the MLS system or isn’t, they “assumed” it would be. You should double check this.

Being a REBNY member myself, I can assure you that all of our exclusive listings are automatically co-broke 50/50 between two brokers, no questions asked and are distributed to the entire brokerage community. Just as an example, in addition to our website we will immediately be indexed on Trulia, Zillow, StreetEasy, NYTimes, Optimum Online, etc…

I know that many agents will only rely on their internal database to gather inventory availability, which in my opinion is suicide and is a sure way to miss the boat. A good agent will scout their internal database and also other Real Estate engines as I’ve listed above and I suggest you be listed on at least the first four.

To sum it up. If you go with REBNY agent, you can rest assured your apartment will be indexed in the first 24 hours of signed agreement. Unless otherwise instructed by you. In 24 hours, everyone will know about your apartment. If you go with the MLS agent, I can’t comment on how soon after signing the listing agreement they are required to enter listing information onto the MLS database. Make sure that they do post it on MLS, also confirm that they will co-broke 50/50 with another agent, MLS, REBNY or non-affiliate. And also for both, have them email you links to various websites your listing will appear on to give you assurance you are being properly marketed in the manner you were promised.

And while it’s better to be on all possible sites that are real estate related, there are only a handful which are proven to be effective and drive most amount of traffic to them. At the end of the day, try to choose the agent which gives you most amount of certainty.

Good luck.
1 vote Thank Flag Link Thu Feb 23, 2012
Here's a little experiment for you to run to see what you think.

Google the word "Bensonhurst" with various other words and phrases--houses for sale, apartments for sale, home for sale, etc. Try as many as you like. Imagine that you're a buyer looking for new home.

Take a look at the results, and start scrolling page after page through Google. On what page do you find the Brooklyn mls website?

You will find links to multiple real estate firms on the first and second Google page.

Now, follow those links and see which firms are members of REBNY, and which belong to Brookly mls. Did you find any brokerages that belong only to the Brooklyn mls? Keep going page after page through Google. What do you find?

Below is a link to REBNY members to help you research this.

Take a look at the ads from the New York Times, Trulia, Zillow, HotPads, and many others on that first Google page. Who are those advertisers? Are they on the Brooklyn mls?

I advertise all my Brooklyn listings on 30+ websites, and I belong to REBNY, my firm belongs to REBNY, so all the agents who belong to REBNY have instant access to my Brooklyn listings.

However, Brooklyn mls firms also have instant access to my listings, and I happily work with such brokers and do so on a regular basis.

REBNY members are required to co-operate on sales and this is the very best thing that can happen to a seller. In parts of Brooklyn there is a tradition of "pocket listings," of not sharing listings with other firms, of refusing to share commissions with a buyer's broker, as we all must do in REBNY. That means fewer buyers for you. Fewer buyers means less competition, which almost always means a slower sale and a lower price.

One of the most common ways for me to get Brooklyn listings is from a seller who had a neighborhood real estate agent before me who didn't want to, or couldn't afford to, pay for advertising. So, the property didn't sell. They put a sheet up in their window, and a note on their website, and thought that would sell the property. That's not enough anymore, you need a firm that can afford to advertise where the buyers are.

This morning I found 39 listings in the RLS (REBNY Listing Service) in Bensonhurst alone.

Karla Harby
Lic RE Salesperson
Charles Rutenberg LLC
kharby@crrnyc.com
212-688-1000 x146
0 votes Thank Flag Link Thu Feb 23, 2012
Dear Sage:

I have been selling homes in Brooklyn since 1993 and believe the Brooklyn New York Multiple Listing Service (BNYMLS) covers a lot more of Brooklyn than the Real Estate Board of New York (REBNY). In a best case scenario, your agent should be a member of both data bases so as to best cover your Brooklyn needs (such as my company).

REBNY mainly covers the more northern parts of Brooklyn such as Williamsburg, Brooklyn Heights, Red hook, etc where-as BNYMLS mainly covers the south side of Brooklyn such as Sheepshead Bay, Marine Park, Mill Basin, etc. There is some overlap as well.

There are a lot more properties in Bensonhurst listed for sale on the BNYMLS than on REBNY. In the end, real estate is still a very localized industry. You just want to make sure that the agent who is helping you is an expert in YOUR area. Then you should be in good hands. If I can be of further assistance please let me know. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Wed Feb 22, 2012
If you are selling the property in Bensonhurst, for the best possible results you have to use the agent from Brooklyn MLS. 99% of all sales in Brooklyn are local buyers.
Give me a call at 347-524-2813 if you need help.
0 votes Thank Flag Link Wed Feb 22, 2012
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