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Home Selling in 10007 : Real Estate Advice

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  • Home Buying2
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Activity 260
Wed Aug 15, 2012
Gary Geer answered:
Lenoard,
Interview at least three agents and discuss your situation. They will either show you justification for the commission they charge or offer you alternatives.

All the best,
Gary Geer

www.GaryGeer.com
... more
0 votes 32 answers Share Flag
Sat Apr 9, 2011
Jenet Levy answered:
Hernie,
I'm not sure where you are getting the formula from, but I had an HFDC listing that sold at market price. It is the income of the buyer that has a cap. I had an HFDC walk-up alcove studio listing on the Lower East Side. We listed and sold it at market price. The original price in the offering plan was $7,000. Believe me, we did not sell it for only 3% above that. It was more like 500% the initial price. ... more
0 votes 4 answers Share Flag
Sun May 29, 2011
Matt Pickett answered:
I wish I had more to go off to help you on this post. Ill have to leave it to your local trulia agents for comment
0 votes 9 answers Share Flag
Thu Apr 14, 2011
Terri Vellios answered:
There are more than one type of listing agreement. Your listing agent should be able to explain to you the difference. To get maximum exposure of your property the listing agent will list on the MLS to do so a commission needs to be offered to a Buyer agent.

You hire the listing agent to market your property this includes to buyer agents who have buyers looking for an apartment and these buyers want to have an agent on their side.

Commissions are negotiable, understand what you may be giving up when you change the commission structure.

All the best to you.
... more
0 votes 15 answers Share Flag
Tue Apr 12, 2011
Bill Eckler answered:
Leonard,

There are typically two sides to a real estate transactions...listing and selling.

Simply stated, if you expect a full service agent/agency to list and sell for 3% professional fees, you will likely be embracing a process that will require an eternity. One of the benefits of the multiple listing service system is being able to reach out and include all agents, making them aware of the opportunity your home has to offer.

With overhead, professional fees, and advertising, it entirely possible for a agent/agency to spend 1.5% on this alone. Which leaves 1.5% to be split between the listing and selling sides.

Additionally, these are expenses that agents and agencies have to absorb "up front" with no guarantee that you are going to remain committed to them to the end.

Although your expectation may make sense to you....I wouldn't expect a crowd gathering at your door. Would you entertain a business opportunity in which you stood a very good chance of losing money...I think not!
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0 votes 9 answers Share Flag
Wed Apr 16, 2014
Jim Lanfranchi answered:
This is an "HDFC" building and may have resale restrictions. They would be found in the offering plan. Those restrictions typically limit the profit an owner may realize after selling and also restrict sales to purchasers who make less than a set amount. ... more
0 votes 2 answers Share Flag
Wed Apr 6, 2011
Anna M Brocco answered:
When selling a property, review comps with your agent--recently sold similar properties in the immediate area, then make a determination on a fair listing price--be competitive in your pricing, don't chase the market...a home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions.... ... more
0 votes 19 answers Share Flag
Tue Apr 12, 2011
Gail Gladstone answered:
If you are interested in a referral to someone I refer to in the city quite often, send me an email so I can give you the information.
0 votes 33 answers Share Flag
Thu Mar 10, 2011
Christopher Pagli answered:
Hi, Depending on how anxious you are you can meet them in the middle, one shot. Typically when a negotiation goes backj and forth more then 2-3 times the deal doesn't happen. It's impoirtant for you to know how bad the buyer wants the place because that will help you decide how to move. Always be gracious and keep the negotiation pleasant and keep in mind both parties want to feel like they have won. Good luck!

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
... more
0 votes 9 answers Share Flag
Wed Feb 9, 2011
Fern Hamberger answered:
NotSOSURE,
Please contact brokers in person. It is not enough that you have requirements, you have to be qualified or in other words be pre-approved for a purchase or a rental here in NYC.
You should find out exactly how much you can afford before going out there and looking...
Fern Hamberger
fhamberger@citi-habitats.com
... more
0 votes 2 answers Share Flag
Sun Sep 21, 2014
Eugene Kopman answered:
Dear Notsosure,

There are a lot of desired areas in Manhattan. Near the Civic Center, you're looking at Mostly Tribeca, Nolita, Financial District and Lower East Side. These are all popular areas. As far as renting them out before you relocate, it is not a bad idea so you don't lose money, but keep in mind most building do not allow sublets for less then 6 months. Usually it is minimum 1 year,

I will be happy to assist you in buying a home in Manhattan. Having an experienced real estate agent is a good way to have somene look out for your best interests. I can also rent the unit for you if/when needed.

Sincerely,

Eugene Kopman
Associate Broker
BOND New York
Direct: 646-39-RE-NYC (646-397-3692)
eFax: 646-217-3737
E-mail: Eugene@BondNewYork.com
Twitter: REIronHorseNYC
... more
0 votes 14 answers Share Flag
Sun Feb 20, 2011
Jenet Levy answered:
Donna,
It's a little unclear what you are asking, but if you are asking if the buyer's attorney not setting a closing date could be due to the bank, it definitely could be. The banks these days are backed up and delaying closings. It has happened to me several times recently on my sales. The banks have more mortgages and refinances going on than they can close on. Also the underwriting depts. are asking for more things at the last minute. The buyer's attorney cannot arrange a closing until the bank's attorney tells them file is cleared to close. I wouldn't assume the buyer's attorney is "dragging feet." ... more
0 votes 4 answers Share Flag
Wed Feb 9, 2011
Jenet Levy answered:
Clinical,

The buyer's agent should request an appointment for a walk-thorugh through the seller's agent.
0 votes 8 answers Share Flag
Tue Jul 12, 2011
Jenet Levy answered:
Doesn't your company do that? If you are with a REBNY company, your listings will be in the REBNY listing system, and 90% of deals are co-brokered. As far as direct buyers, your company really ought to be doing that marketing. That's what their part of your split is for. ... more
0 votes 3 answers Share Flag
Sat Mar 1, 2014
Nick Rafello answered:
The Craigslist, back in the day, was a very useful tool. It is no longer that way. If you see an ad that has no address, it is probably an "open listing." This means many agents have access to this one property. If it is a fake ad, then this is illegal and considered bate and switch. ... more
0 votes 19 answers Share Flag
Sun Feb 6, 2011
Spirit Messingham answered:
If you have proof, provide it to Title to clear it. You can ask Title what is showing up, and what evidence you need to clear it.

It happens frequently when a bank lien is paid off, they (the bank) never takes the time to record the release. Call Title, get on it & close on your house. Really, your attorney should have told you this.

Best of luck & glad I could help.
... more
0 votes 10 answers Share Flag
Fri Jan 21, 2011
Gail Gladstone answered:
As a Realtor, my personal opinion would be that they had time to do their due diligence and their attorney should have searched title and history.

Are you liable? You need to ask your Attorney. ... more
0 votes 9 answers Share Flag
Mon Mar 21, 2016
Eugene Kopman answered:
Dear Hk,

I would recommend you stay there or list the apartment higher to compensate for the 6% and hope someone bites. You can also try selling it yourself with sometimes, but rarely works.

Hope this helps.

Eugene Kopman
Associate Broker
Bond New York
Eugene@bondnewyork.com
646-39-RE-NYC
... more
0 votes 19 answers Share Flag
Fri Jan 21, 2011
Eugene Kopman answered:
Demi,

Everyone has their own template, there really isn't a standard. Depending on what the type of building and type of apartment, certain things should go in there.

Feel free to e-mail me directly and I will gladly help you set one up for free.

Eugene Kopman
BOND New York
646-39-RENYC
eugene@bondnewyork.com
... more
0 votes 10 answers Share Flag
Fri Feb 4, 2011
Stephanie Drag answered:
Maria,

Staging has become quite popular. Studies show that it can help to sell a house faster. Check out the link I attached that describes the top 10 reasons to stage. (You will need adobe reader to read it though...if you don't have it you can download it for free from the Adobe website.) It can be very difficult for buyers to visualize the space with their things. They get distracted by the pictures, toys, out of date curtains, dirty couches, etc. Plus, having all those extra things around can make rooms seem smaller or more cramped than they are.

Staging can do more that just help a buyer to visualize. It can help to accent architectural features in the home. Rearranging the furniture can bring focus to a fireplace. Different curtains can increase the amount of natural light or show off picture windows. Accenting a wall, arranging furnishings or choosing the right window treatments can make a room look larger. The list goes on and on. Staging is all about making the house look the best it can so it can sell as fast as it can.

I have a feeling that the concept of staging (declutter, depersonalize, and neutralize) is going to be around for awhile. Especially in a market where every thing that you can do to help a house shine and stand out will help to sell the home a lot faster.

Stephanie Drag
Realty Executives, Pequannock
stephaniedrag@realtyexecutives.com
... more
0 votes 33 answers Share Flag
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