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Can you list an apartment for sale

Started by cmist
about 16 years ago
Posts: 56
Member since: Jul 2009
Discussion about
With several different Brokers at one time ?
Response by mimi
about 16 years ago
Posts: 1134
Member since: Sep 2008

Do you really want to deal with more than one

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Response by kharby2
about 16 years ago
Posts: 279
Member since: Oct 2009

Yes, it's called an Open Listing when you do that.

You can't get your apartment listed on Street Easy unless it is a broker exclusive, according to my best information.

{Manhattan real estate agent.}

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Response by cmist
about 16 years ago
Posts: 56
Member since: Jul 2009

No, i don't really want to deal with more then one broker, i would however like to get the most exposure possible. Had an exclusive which is about to expire, wondering what my next step should be. Any thoughts about using a large Brokerage as opposed to a Private Broker?
Thanks~

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Response by kharby2
about 16 years ago
Posts: 279
Member since: Oct 2009

One question is, why did the listing expire with the property unsold?

When a listing expires unsold, the most common reason is the price is too high, but there can be other reasons.

I'm with a large company (4000 agents nationwide) but I don't think size is as important as how hard the particular broker/agent is willing to work for you--that means marketing efforts, helping buyers get financing, holding open houses, showing it on short notice to qualified buyers, etc.

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Response by cmist
about 16 years ago
Posts: 56
Member since: Jul 2009

KH- thank you for your time and response. I think my price but be slightly too high, i'd like it to move but left a small margin for negotiating. Broker, held an Open House pretty much every Sunday and he was always available to show the listing. I'd hate to sign another 90 Day contract, could i sign one for 30 instead? Not sure how the apartment was marketed, is there anything i should ask specifically?

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Response by kharby2
about 16 years ago
Posts: 279
Member since: Oct 2009

I certainly do 30 day exclusive listing agreements. My brokerage, Charles Rutenberg LLC, also allows us the freedom to negotiate commission rates.

It takes 2 weeks for a marketing campaign to fully roll out. Some ads, such as an online New York Times ad, appear same-day or next day, but other web sites take 7-10 days to run my posts. Mailings and fliers of course take time as well. So the marketing tends to peak at approximately week 6.

Pricing is tricky, because if it's too high, your real target buyers will never see the apartment, thinking incorrectly that they are priced out. But if the price is too low, people are suspicious or think you're desperate, neither of which is desirable for you. I like to study actual recent sales prices of comparable properties and then price just a bit above this.

I would make sure that your apartment appears on Street Easy as a featured listing, which requires an exclusive broker/agent listing. I do apologize for promoting Street Easy, I don't approve of everything they do by any means, but nothing works as fast or as well as Street Easy right now, in my experience.

If I can help you, feel free to give me a shout...you can click on my name to go to my Street Easy page.

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Response by takkyamaguchi
about 16 years ago
Posts: 45
Member since: Feb 2009

It's generally recommended to interview a few brokers from different companies first. Ask them if they're familiar with the building, managing agent, closing department, co-op board, etc. and what types of landlords and/or properties they've worked on in the past. Take notes on what exactly their marketing plans are, and which media outlets they will reach out to in achieving maximum exposure online. (this site is obviously one of them, but does not quite cover half of what's out there.) A 30 day agreement would be very difficult with some brokers, especially since the holidays are fast approaching. Kharby2 is right, in terms of listing services that we use, it takes generally a week or so to get the listings uploaded on certain media platforms. Owners also cannot advertise their listings on streeteasy.

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