Status update

We have 2 more contract signed and 2 new offer accepted.

So in 5 months of operation:

3 closed and sold

2 contract signed

2 offer accepted

We have covered Brooklyn, Queens and NYC.

Coming soon - membership in the LI MLS, web improvements and fractional RE services.

Maps from NYC.gov with tons of info

NYC.gov has just revamped their maps section. Now not only can you get regular and aerial map views, you can also get tons of information concerning topics from F.A.R. to neighborhood information.

NYC - website

Sales Results of NBP

Sold units = 3 in 4 months (savings - $117,525)

Deal 1 – Direct Deal (no brokers) (saved $50,250)
425 East 79th; sold for 837,500 - 25% down co-op w/tough board (board package service provided by NBP)

Deal 2 – w/buy side broker (originally a Corcoran exclusive) (saved $50,625)
45 Park Avenue – sold for 2.025MM; Condo

Deal 3 – w/buy side broker (originally a PDE exclusive) (saved 16,650)
West 75th; co-op 20% down

1 contract signed + 2 more listings are going into contract this week (accepted offers).

www.nbpny.com – allows sellers flexibility to create better deals and also allows to work with direct customers, as well as, using buy side brokers if they so choose. This allows for a more cost effective approach and nets the seller and buyer a better deal. With our exclusive consulting model we are able to help owners get their property sold and save money.

In NY Magazine

Ah some press...

Article

They didn't get everything I said 100% but it was decent.

Market

Currently it is all about pricing. With most units on the market at 2007 or 2008 prices nothing will get sold. A lot of people are tricked into thinking that if they hire a broker or get into the RLS, that will change their results with bad pricing.

Well the only way to change your results is to price effectively and that is near or below 2005 levels. No matter the exposure, bad pricing will only result in a lack of tangible results. Their is a a big gap between sellers and buyers and the tepid market will continue until that gap is closed. With market reports showing drops in prices approx 21% and sellers holding their ground, we have an arduous road ahead in 2009.

2010 should bring more clarity as the gap will narrow.

The Story of 45 Park Ave

This unit was represented by Corcoran and it never sold. So the owner decided to sell on his own and utilize the flexibility in price without the listing broker. He further enhanced his marketing by working with buy side brokers - which still lowered his costs from using an exclusive broker.

Within 1 month he was able to get an offer and shortly after that the contract was signed.

45 Park Ave

Member Status update + New Feature

We have upped the tally to 3 contract signed by members. 2 on their own and 1 with a buy side broker.

Our newest feature is inclusion in the RLS, OLR, Trulia and Street Easy for one low fee. (you must be working with buy side brokers and offering 2.5% or more commission)