"make me move" feature

You can't make me.

You pretty much answered your own question, NYCNovice.

They'd be perpetually harrassed by bottom-feeding lowlife brokers, who will do or say anything to get a listing, including one that starts out at a wildly inflated price (to be "negotiated" way down later).

"Make Me Move" is just silly in any market, really.

HB - I suspect you could make this happen.
AH - Fair enough, BUT these guys would never list their place; they only want to be contacted if someone wants to directly offer them $X (and their X is considerably above the ppsf that the table thought was market for their place). If they are going to be harassed all the time anyway, why not just put it out there "don't call me unless you are a buyer who is going to offer me $X." Would save everyone a lot of time, and maybe that one crazy buyer out there under unique circumstances would actually offer them $X.

NYCNovice, lots of people do do this with their neighborhood brokers. I have one on Greenwich Street, one in Midtown East, one in my own building; I imagine that a big broker like Raphael De Niro has dozens. The problem is that these "Make Me Move" prices are usually 20% above market.

ali r.
DG Neary Realty

I read that 144 Duane is selling finally.

HB - Who's buying 144 Duane? State of Qatar ended up buying the Ellen Biddle Shipman mansion at 21 Beekman Place for 34 million.

Front_Porch - As always, thanks for the input. Works that way in DC too, and this is one of the reasons I value brokers.

I'd consider a make me move feature. I live in a small but architecturally distinct building where apartments typically trade quickly or close to/above ask with multiple bids. There's probably a latent market for our units, but brownstone buildings don't really have a "neighborhood broker."

If someone valued the architecture enough to pay for me to move into a comparably sized but nondescript apartment in a professionally managed building, I'd consider it. 20% above market is about right.

why would anyone in their right mind want to pay 20% over market?

lad, at some point let me know what you want for your unit and I'll put a bug in my sponsoring broker's ear.

A moving target

>why would anyone in their right mind want to pay 20% over market?

Moron.

The buyer is merely paying just over what the seller is willing to stay in at.

AH - quite possibly.
HB - exactly.

How many apple orchards to make me move? It's a moving target. Right now it'd take lots and lots of apple orchards. Btw my apple orchards are really architecturally designed. It's like called 'Rows.' It's Greek for rows. Stunning to behold. W67 is special. You are not.

Flmaozzz. Go Team RE! Ali is team leader!

^^There's your food^^, community organizer.
For your "thoughts".

stifle

Yay!

Explain why moving target is a problem; how is that different than any other negotiation where initial parameters can be overtaken by events? Owner can update their make me move price at any time, and my sense is that the bulk of participants in RE market do not engage in the sophisticated macro and micro economic analysis that appears to rule W67th's world. It's just not that complicated for many of us who are happy in our simplistic worlds. I am sure I will never have as much money as W67th, but somehow I will survive.

Moving target is a problem because those who list as Make Me Move are delusional, and want the winning satisfaction of selling significantly above market, rather than a set price for a specific goal (e.g. buying a fixed immediate annuity that will generate the $x per month that they need to live comfortably in retirement at their country house, or wherever).

As they see the market increase, and the nearby sales and asks approaching their Make Me Move price, they jack up their asking price so it remains way way above market.

I know I would.

Of course it's a moving target because, generally, selling one home means you have to buy another. If your home goes up in value, it's likely that the home you want to buy is also more expensive.

My "make me move" price is anchored by the cost of what I'd be willing to trade for.

Today, the "market" would demand X. If today you pay Y (which happens to be 20% above X), I'll sell.

Today in both those sentences is required in the "Make Me Move" situation.

I don't see delusional sellers as problem. I think there are buyers out there like me who don't pay a lot of attention to the bigger picture and just will pay for what they want if they can. I have no idea if I am ever getting a good deal on anything I buy and I know I am not unique.

Hit enter too quickly. What I see in Nyc real estate are units that appeal to me selling within days of listing. I am not in NYC enough to pounce on those listing. I could see myself paying above market to get what I want in this market, but I don't like being limited to those units that are listed.

because people wont move just for 20% over market.

we've renovated twice in 5 years (adding on additional apartments), not a chance i'd move for only 20% above market after the effort we've put in, would need to be a lot more in order for me to find something else in Brooklyn heights we'd prefer to live in.

Many people don't want to move at any price. However, New York is a huge city with millions of people under millions of sets of different circumstances with innumerable combinations of unique preferences. A "make me move" feature would be of absolutely no use to the vast majority of participants in the market. However, for individuals who are capable of buying and selling without brokers, who know what they want and are willing to pay prices that would make zero sense to parties with vastly different preferences, this would be a useful feature.

There is a sign in our neighborhood in DC right now tacked onto a tree that says "Please call this number if you are interested in selling your house. We want to live in this neighborhood." Maybe I should just try that.

Really, it is tacked onto a tree?!
At least, the interested persons/potential buyers ("we") could have sent that proposition by mail to the address of the homes that they are interested in.

Brilliant analysis, Einstein.

Did you know that some owls aren't that wise?