Monday, January 31, 2011 | Source: NY1
Online videos have now become the hottest tool for marketing properties. “Video has been the most powerful marketing tool. It’s honest, it shows the place for what it really is,” says Douglas Heddings of the Heddings Property Group.
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Monday, January 31, 2011 | Source: The Real Deal
Citi Habitats founder Andrew Heiberger’s well-funded new brokerage, Town Residential, made a splash when it debuted late last year. But the brokerage is far from the only new business in the city. The start of 2011 ushered in a flurry of new start-ups, many with innovative new business models related to New York City real estate.
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From New York Times writer Susan Stellin comes this always sensitive piece today on the 6% commission.
Doug Heddings, who started the Heddings Property Group in 2009 after working at Prudential Douglas Elliman, says commissions “have always been negotiable.” But now that he is an independent broker, he said, he has more freedom to set his fee than when he worked for a large firm.
Still, Mr. Heddings sees the 6 percent commission as justified by the money and time he spends marketing a property. And, he said, he is more likely to cut a deal on his commission during the negotiating process to bridge a gap between the buyer and the seller.
“If we’re $10,000 or $15,000 apart,” he said, “I’ll do what I can with a commission to make sure a deal happens.”
Well that is what I had to say but check out the entire piece for alternatives currently available to sellers.
Friday, January 28, 2011 | Source: New York Times
PRICES in the New York real estate market may rise and fall, and trends in housing may come and go, but one number has remained largely unaffected: the 6 percent broker commission.
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One of my agents reached out to me this morning regarding confusion surrounding the square footage of a property that he is bringing to market today. He is bringing apartment 5B to market and is concerned by the following data and pay particular attention to the B-line apartments which are ALL EXACTLY THE SAME:
| Apt. |
Size |
R/B/B |
SF |
Shares |
List Price |
Updated |
Status |
Confirmed Price |
Sold Date |
Source |
| 2-B |
CNV2 |
4/1/1 |
|
|
$175,000 |
11/11/1998 |
Sold |
|
|
|
| 5-D |
1BD |
3/0/0 |
750 |
|
$285,000 |
4/25/2002 |
Sold |
|
|
|
| 9-B |
1BD |
4/1/1 |
950 |
|
$349,000 |
5/1/2003 |
POM |
|
|
|
| 7-D |
1BD |
3/1/1 |
850 |
|
$353,700 |
6/8/2008 |
POM |
|
|
|
| 3-B |
2BD |
4/2/1 |
1000 |
|
$395,000 |
12/17/2001 |
POM |
|
|
|
| 1/D |
1BD |
3/1/1 |
650 |
|
$395,000 |
4/20/2005 |
Sold |
|
|
|
| 2-A |
1BD |
3/1/1 |
650 |
|
$395,000 |
6/9/2008 |
POM |
|
|
|
| PH-S |
STU |
2/0/1 |
|
450 |
$399,000 |
9/24/2006 |
Sold |
|
|
|
| 2-C |
1BD |
3/1/1 |
700 |
|
$425,000 |
3/19/2010 |
Sold |
|
|
|
| 9-C |
1BD |
3/1/1 |
700 |
|
$449,000 |
9/20/2006 |
Sold |
|
|
|
| 4-B |
1BD |
4/1/1 |
1000 |
|
$449,000 |
5/1/2003 |
Sold |
|
|
|
| 2-D |
1BD |
3/1/1 |
700 |
|
$499,000 |
11/17/2010 |
POM |
|
|
|
| 8-C |
1BD |
3/1/1 |
700 |
|
$519,000 |
3/30/2010 |
Sold |
|
|
|
| 4-D |
1BD |
3/1/1 |
|
460 |
$539,000 |
6/8/2007 |
Sold |
|
|
|
| 7-A |
1BD |
3/1/1 |
700 |
|
$585,000 |
2/12/2010 |
Sold |
|
|
|
| 5-B |
2BD |
4/2/1 |
900 |
|
$675,000 |
7/1/2007 |
Sold |
|
|
|
| 7-B |
2BD |
4/2/1 |
|
|
$699,000 |
6/14/2006 |
Sold
|
|
|
So as you can see for yourselves from this data, the conundrum lies in the fact that the EXACT same space has been marketed from 900 to 1000 square feet. So which is it? Note that 7B and 2B didn’t even quote square footage likely because they had no clue. Is it 900, 950, 1000 or some other number. This is precisely why we MEASURE ALL NEW EXCLUSIVE PROPERTIES and don’t rely on previous reported square footage.
My thoughts on square footage have been posted everywhere across the internet including our 5 part video series on this blog, the New York Times and even on NY1News. Why oh why can’t there be some standard of measure that is policed by someone?
And by the way, the place measures at 890 square feet so we feel comfortable listing it at approximately 900 because that is the number at which it was last listed. Makes you wonder from where 1000 square feet came?
The following is a great piece on finding a moving company and although it was written by a company in the Seattle area, it applies to all:
You have found a real estate agent, put an offer in on a house, and now it is time to find a mover. But whom do you trust to move everything you own? Unfortunately, there is no easy answer. There are, however, three steps that will ensure that whatever choice you make, will be a good one:
When finding a moving company, start with the BBB:
The Better Business Bureau has made it their business for the better part of a century to ensure that the professionals in your area, well, stay professional. They monitor complaints as well as post customer service ratings on their website (just Google “BBB + your city, your state” and it will pop right up in the search). The BBB is a great resource for finding trusted moving and storage companies in your area. Just look for those that have A to A+ ratings in the last 36 months. All complaints should have been successfully resolved and they should be in good standing with the BBB.
When finding a moving company, check out Moving Scam.com:
You’ve found a moving & storage company that is doing well with the BBB. But, since not all people report their bad experiences to the BBB, it is good to look in multiple places. As a “just in case,” go to movingscam.com. The founder of the site got scammed by rogue movers years ago and decided he was going to hold scam movers accountable, single-handedly. He has done a pretty good job of informing the public of the naughty as well as the nice since then. You can look a mover up to see if anyone has posted good or bad comments about them. Just know that these are people’s raw opinions… And we all know: “opinions are like armpits, everyone has one and most stink.” I would look for patterns. If there are one or two negative complaints, it’s probably nothing. If there are three or more, time to reconsider the mover. If someone took the time to write a positive post, that holds huge weight! People are ten times more likely to share a negative experience than a positive one.
When finding a moving company, get a written estimate:
The BBB and MovingScam.com both give the moving company their seal of approval. It’s now time to get an estimate. Make sure the moving company is will to put any and all charges in writing before they start to move your belongings. Any reputable company will want to tell you what they charge before they do the job. Now the problem with an estimate is that it is an estimate. It does not mean that the price is set in stone, it is their best guess, based off of experience, of what the price should be. Keep in mind; any estimator worth their salt will be within 15% +/- of the estimated price. In fact, in many cases you can request a not-to-exceed estimate – the price may go down, but not up. This protects you and it keeps the honest guys honest.
There is the short list of finding the mover that is right for you. Here is to making the next chapter of you life the best one yet.
For more information on picking a great mover where you live or getting a Seattle, Bellevue, & Renton area moving quotes, please visit the above link.
Consider this article from Crain's the next time you post on facebook, twitter, your blog or anywhere on the Web for that matter: Sarah Palin learns Web has no undo feature.
And if you think that people aren't checking out your social media and Web presence to gain insight into who you are, you are sadly mistaken.
My doorman just told me that he ran into
Chris Mullin on the street. Mr. Mullin shook the doorman's hand and when asked what he was doing on the Upper West Side he replied, "looking for a 2 bedroom apartment." Does this mean that he will in fact be announced as the
Knicks next GM?
Sunday, January 09, 2011 | Source: Crain’s
Real estate broker Douglas Heddings did something radical last summer. He started his own firm using a drastically different business model, one that not only pays brokers higher commissions but also a share of the profits. So far, so good.
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