Listing apartment FSBO: Welcoming opinions...

You have done a great job on the website, probably one of the best I've seen. My only comment was under the contact us section, you ask those that have interest to fill out contact information so that you can contact them. I always hated that, especially not knowing where the questions were going. Not that it's a big deal, but you could create an internet address for contact/questions and have people use that.

But I salute your work. Good luck with the sale and with the new baby!

Nice work. Looks good.

Thanks Goldie. I'm going to see if I can add the contact info in. I listed my phone and email on Streeteasy, NYT, Curbed, etc, anyways.

Good website. I agree with Goldie. I never send my name/info to request info. You need to have a phone number for people to call. This is essential. I know I would not contact you this way.

Also, you say this is a "real" 1-bedroom. But the bedroom is only 10X12. That's pretty small for a real 1 bedroom. A full bedroom is typically at least 11X15. I would consider this size apartment a "junior" 1-bedroom.

Good Luck!!

For less than a $100 dollars you can blast your listing out to 12,000 brokers and let them know you are paying a 2% commission. This is very effective and a leading way that the big firms advertise their listings to other brokers. Use it to advertise your first open house, maybe offer some refreshments.
Good luck!

Be prepared though for a few brokers pitching for your listing (;

http://www.gothamphotocompany.com/Sample/

Keith
http://theburkhardtgroup.com/agents_details.php?agent_ID=7619

The photos are nice but you can't get any idea about the bedroom because all you can see is the bedspread. In person, I assume that spread takes focus also. Go get a plain white thin spread and make a tailored bed Georgia Armani style. White pillows and a folded demure blanket across the foot. It will make the room look bigger.

The building's original brochure: http://nyre.cul.columbia.edu/projects/view/17036#images

Looks v. good. I'd assume your likely buyer is liable to be a first-time buyer, so I'd mention a couple of things about 88 Bleecker on your landing page (as well as the building page) .. just in case they're not familiar with it.

Laundry in building, pets allowed with board approval would be my top two.

Good luck!

ali r.
DG Neary Realty

You did a nice job, only 1 critique if I may, you need to redo some of the photos.

I understand some things may be limited by type of camera,available light,wide angle abilties, but making sure the photos are level are essential. Compare pic 1 which is level to pic 2(to the right of #1). Pic 1 is level, Pic 2 has the ceiling line sloping down to the right.
Look at the bottom 2 pic s from the left. Pic 1 the top of the shower door is sloping down to the right, pic 2 is much better.

Hey everyone. Thanks for the constructive criticism. Obviously, it's the first time we've done this kind of thing, and who knows if it will work. I'll try to address everyone's stuff below:

Goldie and kar3f: I had the Contact Us page removed and put our phone number on the About Us page. You're both totally right about people feeling weird putting in their info, especially in this day and age.

kar3f: I thought a jr. 1 bed is a studio with a wall built to divide the space? The wall dividing the bedroom and living room is structural. It may be a small bedroom, but it's not a Jr. 1 Bed. I think (not certain.) Others can feel free to weigh in on this.

truthskr10: Yeah, I'm not a master photographer. I have an SLR, but it's tough to get the perfect angles on things. Hopefully the pics give a good enough idea, and people will want to see it for real. I'll check out the specifics when I get home tonight, if I don't pass out immediately. It's just the 2nd day back at school :-).

front_porch: I completely forgot I wanted a bullet list on the front. Need to add that to the website punchlist.

apt23: Agreed on the bed being too big in the photo, and also the sheets perhaps being too busy. I'll talk to the wife about something else for the open house. After all, our taste is kind of irrelevant at this point, and we should be going for more muted tones to enhance the size of the space. The wife makes me watch enough HGTV. Should have been all over that one.

NWT: I haven't had a chance to look thoroughly yet, but that brochure is nuts! How did you dig that up? I'm pretty sure the counters, blinds, sink, hamper, and a couple of other things were original when we gutted. Have some great before pics if you're interested.

Again, keep the comments coming folks. We really appreciate the critical eye of everyone here. How do people feel about the price? We looked at comps (both sold and unsold) and feel like we're in a good spot. Agree? Disagree?

Thanks again,
Mark

88 Bleecker is NOT in the "heart of Downtown Manhattan". It's in the heart of GREENWICH VILLAGE. "Downtown Manhattan" is considered below Canal Street.

I am a price per square foot person and since you asked, I think $499,00.

I always thought "downtown" was below 14th.

Nice website, btw.

Thanks Broadwayron. Streeteasy includes Grammercy and Chelsea in Downtown listings. Those stretch to 23rd Street. I guess it's how you define heart. I was thinking just centrally located, and easy to get to other neighborhoods, verses neighborhoods on the periphery.

KeithB: Yeah, there was that one in our building that was under 500k recently. But it was a complete gut job. However, it did face Bleecker, which most would find preferable. I'm more a back person myself. I'll take less view for less noise. Though of course I wish I could afford less noise and a view. One day. When I get home I'll try to put up what I think are good comps. And hopefully people can let me know if we're in the right neighborhood.

-Mark

As an FYI, if your willling to give out a 1% or more commission to a buyers broker, you can access the MLS system through the backdoor. You only have to pay $300-$500 depending on the services you select, to get an MLS listing up and running. I used www.flatfeelisting.com, which then assigns you to a local sellers broker so you can work through their license to get onto the system. I really thought I would have to pay more than $300, think I was at $425, I selected the GOLD level of exposure, but the sellers broker gets a cut of the $425 and that's it. Lots of paperwork to go through the process, and takes a little understanding of the process, but the phone really rings. I don't work for flatfee and I'm not in the RE business, so, this objective.

This apt was bought at the peak. What makes you think the apartment has appreciated by 20%, while the overall market has fallen 15%?

for better or worse:

"Apartment 5R, on the 5th floor, is a 650 square foot, true 1 bedroom, 1 bathroom which was gut renovated in 2007."

Pawn_Harvester: It was gut renovated since then. We're not just selling it as it was. I think peak would be the renovated one beds that sold for $650k in our building. 15% on that is $565. We're selling under that.

It's lovely, but tiny. The bedroom is nearly non-existent, with not enough room for a proper grown-up bedroom suite of furniture. The living room isn't much better, and the kitchen is barely there.

I can't imagine more than one person occupying this apartment.

And nearly a THOUSAND DOLLARS in maintenance for NO DOORMAN?? I don't think so.

$385K tops. Asking more than half a million for a glorified dorm is obscene.

Well, I guess NYCMatt isn't buying our place :-)

http://streeteasy.com/nyc/sale/540250-coop-32-downing-street-greenwich-village-new-york

I think this is a good comp. Others agree/disagree?

Not really.

This one is much nicer.

I'd go $425K on this one.

Price it right and it will sell. Otherwise, you will be wasting your time and end up cutting the price down and down and down until you get to the right price, or just give up.

it to where you bought it and it will potentially sell. you don't understand the market at all.

Simba, not having been in your apartment, I think the light is better at 32 Downing, but it looks like your pricing is reasonable.

Here's the test: get 15 people through and see what your offers look like. If you have 15 visitors and no offers, either your marketing or your pricing is wrong.

ali r.
DG Neary Realty

what was the cost of the gut reno (or someone else, what does gut reno typically run for this type place)?

front_porch: Going to agree that the light is better on 32 Downing. However, it's also 150 sq ft. less space.

The best sold comp is probably:

http://streeteasy.com/nyc/sale/492053-coop-88-bleecker-street-noho-new-york

Same floor of our building but front, so better light. But, 5J has no dishwasher and a good chunk of original finishes from what I can see in the pictures. Also the layout is worse due to the closed off kitchen. They listed for $565 and closed for $545 three months ago, and entered contract only 1 month after the cut to $565.

Simba, point taken, although I find it kinda tough to comp 88 Bleecker onto itself since none of the layouts really match.

#8R in the St. Mark might be good for you to look at too.

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1950953

Similar layout in 1960s building in similarly slightly off-beaten-path location. List $565K maint $683. It's sold but I don't see the contract price.

The St. Mark has a doorman, of course, but on the hand the floors are the original parquet, which some buyers don't like. So in my mind this comp implies you'd come in around $525K, which I assume from your pricing is about where you want to be.

ali r.
DG Neary Realty

Is anyone else curious how Simba bought (and gutted) this $550,000 apartment as a 3rd year teacher making $50k+? That sounds more interesting than his listing! Was there exotic financing? Is the wife the breadwinner? Was there money saved from a prior career? Parents gave money? Wedding money? What is the plan to handle the pregnancy and her possible loss of income?

captive- not really our business (or yours). Why don't you just concentrate on finding yourself your
"weekend date crash pad"

Captive, I was wondering the same thing, but didn't have the nerve to ask.

Thanks.

bump

I was looking for a 1br for years, so my thoughts:

On the plus side, it's a great location. Your website doesn't seem to be pushing the benefits of the area. Whole Foods is nearby, a "lesser" market is just 1 block away, lots of subways nearby, Wash. Sq. Park, SoHo shopping, etc. Probably anyone looking will be familiar with the area and its benefits, but it wouldn't hurt to say a little something.

On the minus side, it's a smallish 1br, I estimate around 525 sq ft. So even if you came down to $525k, that's still $1000/sq ft, which I think is on the high side these days. But it's possible that the location will be enough of a draw for someone to justify the slightly higher cost.

Good luck!

Hey there. I think your website is one of the best I've sen as well. How did you build it? Have you had any offers yet?

My sister is a budding WordPress guru, and she whipped it up for us. I took the photos, including the banner shot. I don't want to jinx anything, but in terms of offers, it's gone well. If/when things finalize I'll post details about the process for others who are interested in going FSBO.

-Mark