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.
Tuesday, June 23, 2009
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
NYC - website
Tuesday, June 16, 2009
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.
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.
Tuesday, April 28, 2009
Monday, April 27, 2009
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.
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.
Tuesday, April 7, 2009
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
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)
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)
Friday, March 20, 2009
Tuesday, March 10, 2009
11 Riverside Drive
16RW - is now working with buy side brokers...
Enjoy abundant light and a spacious master bedroom in this high floor corner apartment located in one of the most sought after co-ops in Manhattan. This Junior 4 converted to a two bedroom features hardwood floors, crown molding, and stainless steel appliances in its newly renovated kitchen. Southern and Eastern exposure from the 16th floor provide plenty of light and great views. Riverside Park, Fairway Market and the subway are all one short block away. The building also includes many additional amenities such as a gym, elevator men, library, roof deck, a children’s playroom, and a brand new lobby.
Enjoy abundant light and a spacious master bedroom in this high floor corner apartment located in one of the most sought after co-ops in Manhattan. This Junior 4 converted to a two bedroom features hardwood floors, crown molding, and stainless steel appliances in its newly renovated kitchen. Southern and Eastern exposure from the 16th floor provide plenty of light and great views. Riverside Park, Fairway Market and the subway are all one short block away. The building also includes many additional amenities such as a gym, elevator men, library, roof deck, a children’s playroom, and a brand new lobby.
Monday, March 9, 2009
Coming Soon
Gotham Photo Company - will be offering members exclusive photography packages for aide in the sale process. Check back soon for the details.
Wednesday, March 4, 2009
Another Benefit of No Brokers Please
Since you are eliminating the listing broker - you do have the flexibility to work with buyer's brokers, at a set percentage, and still net more money than if you used an exclusive broker.
Flexibility is at the heart of the concept.
Some examples:
45 Park Avenue, Apt 1601
77 Park Avenue
425 East 79th Street
121 east 23rd St.
Flexibility is at the heart of the concept.
Some examples:
45 Park Avenue, Apt 1601
77 Park Avenue
425 East 79th Street
121 east 23rd St.
Newest Member
319 E. 50th St, Apt. 2A
Architect designed total renovation, includes new electrical and plumbing. New Skim coated walls and refinished hardwood floors. Open, loft like floor plan, one bedroom and dressing area. All marble bathroom and rain shower stall. Abundant closet space and hook up for washer dryer unit in one closet. Designer kitchen with Caesar Stone countertops and stainless steel appliances. This is a beautiful pre war building with a doorman-operated elevator 24/7. Small pets allowed. Very convenient neighborhood with great restaurants, Dos Caminos and the Palm. Contact 941-456-1067 to make an appointment.
Architect designed total renovation, includes new electrical and plumbing. New Skim coated walls and refinished hardwood floors. Open, loft like floor plan, one bedroom and dressing area. All marble bathroom and rain shower stall. Abundant closet space and hook up for washer dryer unit in one closet. Designer kitchen with Caesar Stone countertops and stainless steel appliances. This is a beautiful pre war building with a doorman-operated elevator 24/7. Small pets allowed. Very convenient neighborhood with great restaurants, Dos Caminos and the Palm. Contact 941-456-1067 to make an appointment.
Thursday, February 26, 2009
New Members
We have some new members coming on the market:
11 Riverside Drive - Schwab House
2728 Thomson Ave - Arris Lofts
120 Riverside Blvd - Trump
235 East 87th St.
11 Riverside Drive - Schwab House
2728 Thomson Ave - Arris Lofts
120 Riverside Blvd - Trump
235 East 87th St.
Thursday, February 12, 2009
Market Conditions to think about
Sales absorption has not risen and now we are hitting the seasonal cycle, Q2, where inventory and sales traditionally increase. So far only inventory has increased and that is a bad sign for over pricing on the market place.
FSBO sellers will need to utilize that 6% cushion they have to be more aggressive in their pricing if they want to garner deals. If they don't they will go the way of broker listings or FSBO listings that aren't being accepted by the public.
It isn't a matter of exposure - it is a matter of price.
FSBO sellers will need to utilize that 6% cushion they have to be more aggressive in their pricing if they want to garner deals. If they don't they will go the way of broker listings or FSBO listings that aren't being accepted by the public.
It isn't a matter of exposure - it is a matter of price.
Newest Members
322 East 14th St
129 East 82nd Street
201 East 25th Street; Apt 8J
Open Houses this weekend:
129 East 82nd Street
201 East 25th Street; Apt 8J
Open Houses this weekend:
Open house
starts Sunday, February the 15th at 11:00 am, ends at 02:00 pm
Open house
starts Saturday, February the 14th at 01:00 pm, ends at 03:00 pm
Open house
starts Saturday, February the 14th at 11:00 am, ends at 03:00 pm
Open house
starts Sunday, February the 15th at 02:00 pm, ends at 04:00 pm
Open house
starts Sunday, February the 15th at 01:00 pm, ends at 03:00 pm
Open house
starts Sunday, February the 15th at 01:00 pm, ends at 03:00 pm
Open house
starts Sunday, February the 15th at 01:00 pm, ends at 03:00 pm
Wednesday, February 11, 2009
New Package offerings
From today on - all packages with come with Free New York Times online ads, a $260.00 value.
1 month consulting comes with 1mo free NYT online ad a $260 value.
3 months consulting comes with 2mos free NYT online ads a $520 value.
Life of listing consulting comes with 3mos free NYT online ads a $780 value.
1 month consulting comes with 1mo free NYT online ad a $260 value.
3 months consulting comes with 2mos free NYT online ads a $520 value.
Life of listing consulting comes with 3mos free NYT online ads a $780 value.
Tuesday, February 10, 2009
Newest Members
Membership is up over 27 properties and we have some action with a contract signed on one unit and offers on some others.
New Members:
407 Park Ave South
121 east 23rd St.
345 West 70th, Apt 5C
15 Broad St.
129 East 82nd Street
225 Fifth Avenue
237 East 88th St
322 East 14th St Apt 4F
245 East 25th St, 8L
332 E.84th St; 2B
New Members:
407 Park Ave South
121 east 23rd St.
345 West 70th, Apt 5C
15 Broad St.
129 East 82nd Street
225 Fifth Avenue
237 East 88th St
322 East 14th St Apt 4F
245 East 25th St, 8L
332 E.84th St; 2B
Saturday, January 31, 2009
Biggest obstacle
Most FSBO's are very concerned with exposure yet they miss their number one starting point, proper pricing. Without proper pricing, apartments sit on the market and nothing happens leading to frustration and the feeling of the need for more exposure. When in fact it isn't the exposure but how they are priced. I'm not saying exposure isn't important, but if you aren't priced right no matter how much exposure you get nothing will happen.
If you looked at starting prices compared to prices that people got a signed contract - there were massive decreases from original pricing. (based on brokerage sales) This shows that there has been over pricing and slowness to respond to the changing market.
Forget about the past and what you think it's worth and price accurately off older comps from 2007 or a comparable with a contract signed in late October and forward.
If you looked at starting prices compared to prices that people got a signed contract - there were massive decreases from original pricing. (based on brokerage sales) This shows that there has been over pricing and slowness to respond to the changing market.
Forget about the past and what you think it's worth and price accurately off older comps from 2007 or a comparable with a contract signed in late October and forward.
Wednesday, January 28, 2009
Marketing
Marketing can't offset improper pricing or the consumer's reactions to an apartments or lofts offering. There are no tricks or more websites to post on because proper pricing is the key now to any sale.
The ability to offer a strong apartment for a solid price will beat out any marketing gimmicks.
You should look at comparables from 2006/2007 and use these figures to come up with starting prices. 2008 comparables are out of the picture in terms of proper pricing. (remember: like kind comps - same building and same apartment line.)
The ability to offer a strong apartment for a solid price will beat out any marketing gimmicks.
You should look at comparables from 2006/2007 and use these figures to come up with starting prices. 2008 comparables are out of the picture in terms of proper pricing. (remember: like kind comps - same building and same apartment line.)
Friday, January 23, 2009
Newest Members on No Brokers Please
Today we have four new members on No Brokers Please...
142 East 16th, 350 West 42nd, West 127th and 520 East 72nd
and
a price reduction at 200 East 24th - a high floor renovated 1 br - 600sf for 505K.
Question: How did we come up with no brokers please as a name?
Answer: It came from the FSBO ads we read which the majority had listed No Brokers Please!. We felt it was a funny name and that is why we choose to call the consulting service No Brokers Please.
142 East 16th, 350 West 42nd, West 127th and 520 East 72nd
and
a price reduction at 200 East 24th - a high floor renovated 1 br - 600sf for 505K.
Question: How did we come up with no brokers please as a name?
Answer: It came from the FSBO ads we read which the majority had listed No Brokers Please!. We felt it was a funny name and that is why we choose to call the consulting service No Brokers Please.
Wednesday, January 21, 2009
The Purpose of No Brokers Please
The business is about consulting for sale by owners - so they get the benefits of an experienced broker without having to pay a 6% fee. The site, while in it's infancy, is generating traffic with a gradual increase from day to day. It is only 10 days old but still does offer fsbos more power because they are joining together in one place, utilizing their own marketing and our marketing.
It is not about eradicating people.
There will always be people that want full service - just as there will be people who want to do things on there own.
FSBO's needed some guidance and now they have a chance to get the necessary tools and information without having to pay large fees. It will have ramifications of allowing people who want to do the sale on their own to reap more money and price better in a tough economy.
Right now pricing and not marketing are the biggest aspect of getting sales. You do need to market but without a solid price all the marketing in the world won't save your efforts.
What is different - is that we are highly experienced and successful brokers consulting with sellers to ensure success. We have sold millions worth of properties and we're offering the expertise at a flat rate for membership. So you get the same instruction without the heavy costs.
It is not about eradicating people.
There will always be people that want full service - just as there will be people who want to do things on there own.
FSBO's needed some guidance and now they have a chance to get the necessary tools and information without having to pay large fees. It will have ramifications of allowing people who want to do the sale on their own to reap more money and price better in a tough economy.
Right now pricing and not marketing are the biggest aspect of getting sales. You do need to market but without a solid price all the marketing in the world won't save your efforts.
What is different - is that we are highly experienced and successful brokers consulting with sellers to ensure success. We have sold millions worth of properties and we're offering the expertise at a flat rate for membership. So you get the same instruction without the heavy costs.
Tuesday, January 13, 2009
Market conditions
Well, the market is still in a very slow mode with sales volume down each of the last 3 consecutive months. The information in the Q4 market reports looks at contracts that were signed before the end of September so it really gives an accurate picture of what Q3 was like. To really the effect of the slow down, we'll need to see Q1 and Q2 market reports to gauge the level of the market.
With conditions as they are it is very important when selling to:
1) Make sure you understand what someone will need to obtain a mortgage for your property. Speak with a mortgage broker and have them put something together for you so you can provide prospects with all the information. Greater transparency = greater sales.
2) Pricing - don't add appreciation on comps from 2007 as the market today is soft currently. Since you have some flexibility, you should use this to provide the best deals to buyers while still taking home more money. Price sharp and use the fact that you aren't paying a commission to differentiate your pricing.
3) Know the comps in your building and use them wisely. All buyers will be checking them out too so best to be informed and help people through the transaction.
With conditions as they are it is very important when selling to:
1) Make sure you understand what someone will need to obtain a mortgage for your property. Speak with a mortgage broker and have them put something together for you so you can provide prospects with all the information. Greater transparency = greater sales.
2) Pricing - don't add appreciation on comps from 2007 as the market today is soft currently. Since you have some flexibility, you should use this to provide the best deals to buyers while still taking home more money. Price sharp and use the fact that you aren't paying a commission to differentiate your pricing.
3) Know the comps in your building and use them wisely. All buyers will be checking them out too so best to be informed and help people through the transaction.
Monday, January 12, 2009
Launch + FSBO Property
We are fully launched at www.nbpny.com - No Brokers Please and have seen traffic growing to the site.
Here are open houses coming this week - 1/18/09.
200 East 24th
OH - 12pm - 3pm
425 East 89th
11:30 - 2pm
Here are open houses coming this week - 1/18/09.
200 East 24th
OH - 12pm - 3pm
425 East 89th
11:30 - 2pm
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