selling w. 69th st brownstone apt--broker?

Good evening Mom,

I have no problem tooting my own horn (especially the decent human being part) and if you would like to meet with me and and my colleague to see if we can assist you with the sale of your apartment, please don't hesitate to contact me. As for the professional photos, if your apartment is in showcase condition I see no reason not to insist on professional photos.

Althea Ffrench
Licensed Salesperson
Triumph Property Group
affrench@triumphproperty.com

Hi Mom,

Would love to meet with you to discuss the opportunity to market your apartment. I encourage you to find out more about my company at www.resnewyork.com (go to residential section). Also, I must point out that most of our listings get professional photos taken regardless of condition. Looking forward to hearing from you.

Dogan Baruh
President
RES Sales and Marketing Corp.

I am actually looking to buy a 1br in Lincoln Square. I live in the neighborhood. How about skipping the broker to avoid paying the extra 7% they will charge us just to show the apartment? Would you be willing to email me the pictures and the floorplan? If the apartment is bright and in good condition, we could have a deal. There is an obvious a shortage of nice 1BR in the market in Lincoln Square...

I like the usual suspects (and I don't work with, nor am I related in any way to them):

1) Doug Heddings, heddingsproperty.com
2) Elliman - Ann C Lenane, she's a top agent, would be good to hear her take on your apt
3) Brown Harris Stevens - Lisa Lippman
4) Halstead - Brian Lewis

I can discuss your options/outcomes. Ellen Devens, VP Stribling

Hi Mom -

I would like to recommend the broker that I used to purchase - and who I plan to use when I sell my existing apartment. Kathy Moosher at Brown Harris Stevens. I met with Brian Lewis from Halstead and found that I didn't care for his style.

Paul Anand at Sothebys Intl

".....and found that I didn't care for his style".

I have not heard that quasi polite society crack in years. That is what my older relatives used to say verbatim when they were speaking in a homophobic hyperbole. fhsack, I am sure you didn't mean it that way, but there was a time when that specific choice of words was used. The same thing when someone was restricted from a community due to religion and the sales agent would say, "Oh, they just wouldn't be happy here". And this folks is why I don't want to go back to the "good old days".

Mom, of course you can insist on professional photos. You can even insist that the broker adhere to a certain marketing budget -- just make sure that you get what you want written into your listing agreement.

You might find this article (which I wrote awhile ago, but it still holds up) helpful:

http://www.learnvest.com/living-frugally/home-and-decor/looking-to-sell-a-house-5-questions-to-ask-your-real-estate-agent/

ali r.
DG Neary Realty

Bill7284: My great-aunt preferred "a bit light in the loafers for my taste".

I think the OP's question is actually quite a difficult one. It's easy to pick a great broker for a classic eight on CPW or WEA. It's tougher to pick an agent for a lower-priced apartment in a small building. You have to balance the broker's star power with the amount of bandwidth you will actually get from the star. Among the excellent brokers 10023 listed above, Mr. Lewis might be my last choice for a $5MM listing, but he could be the best fit for this particular assignment. (Not that he'd be a bad pick for the prime gig either; it's just that I've been impressed by the personal attention he gives the bottom end of his dance card.)

i haven't spent nearly as much time looking on the UWS as some here, but when I have it has always been for more moderately priced units. i found greg kammerer at corcoran to be very present (and knowledgeable) at his listings, including those in the lower/mid price range.

Agree with West81st.

FYI, park-block 1br brownstone kind-a- outs you on 69th, if by park block you mean between Columbus & CPW. Not that it's a problem.

West81st; Totally right on target. I only know of Brian Lewis' track record from friends that have used him for a variety of listing types and all seemed to be thankful that they made that decision and would use nobody else. That is their take, I have never dealt with him but the word of mouth is usually good. The park block on West 69th is one that I have known for years and it is my experiance that the majority of brownstone one bedrooms tend to be small. There is an exception of a couple of buildings that are wider and usually do not come on the market. If this is what OP has, then that would be great.

Again, heavy on the broker-star-power, but:

Corcoran - Deanna Kory. She's repped a few brownstone apts on the south side of 70th.

I've been following UWS for a while and did notice Mr Lewis does seem to get decent priced listings. However, recently I noticed alot of 'overpriced' listings from him, which is not helping his reputation.

Thanks, all. West81st is absolutely correct about the trickiness of finding the right fit--someone with weight, but who also will work hard on a small listing. Brian Lewis seems the most recommended--but oddly, a little grudgingly??

Bill7284, you are right that it's small (ca. 630 sq. ft., front 1/2 of 3rd floor), but the building is wide enough--23 ft--that the bedroom has reasonable dimensions (I've seen bedrooms in brownstone apts. < 7 ft). We bought it for the beautiful origal features--esp. woodwork--and put in a new kitchen, w/d etc.

nyc10023--I'm surprised you mention Deanna Kory--isn't she a big star?

She is a star. It's hard to find someone who reps just your niche market who does a good job (professional photos, informed, smart). I would call at least Brian Lewis on the list and get his take.

Re: Mom, If it one of the few 23 wide that I remember and you are in the front with a street view, this will be a very welcome addidtion for the buyers who are looking in a market that needs something different. Although I do not know Brian Lewis personally, I can only attest to what reliable friends conveyed to me. If I was still living on that block and selling, I would at least call him. Also, it really helps to use someone who has good word of mouth and has sold in your sepcific area. Good luck to you!

Hi Bill -

The comment was more for the way that Brian was trying to talk me into thinking that a listing that he was representing would be worth substantially more with a gut renovation. His valuation was based upon another unit in the same building with a beautiful renovation, a far better layout, and much better light - which ultimately sold for less.

And yes, I'm sure if you were the owner of the apartment that he was representing you would want him to really "sell" the place. However, I have a feeling that he may sell too hard and turn potential buyers off. My sense is that he inflates the estimated value in order to get the listing and then has to chase the market down to find a buyer.

I met Kathy at a listing that she was representing in a Candela building. Her style was a breath of fresh air and although I didn't purchase that apartment, within a year I bought another unit in that same building and she represented me as the buyer.

BL:KM = Apples:Oranges. Both good. Polar opposite styles.

Hi fhsack; Thanks for clarifying and as I said in earlier post, I was sure you did not mean it that way. Most important is the fact that you met Kathy, devoloped a good business relationship and did business with her a year later. That in my estimation is the way to go. Everyone seems to have different experiances with different brokers and finding the right fit is an accomlishment.

Hi Bill - all good, and you are correct, working with a broker is all about finding one who suits your personality. As per West 81, I'm clearly an orange and not an apple.

Another question: is August so slow a month that it's better to wait til Sept. to put the apt. on the market so as to have a fresh listing? If there's not a huge difference, I'd rather list it right away....

mom: you have one huge advantage in your pocket, which is that you are clearly a pleasant/not-crazy person.

You also have one huge disadvantage, which is that the property you have to sell is in a market segment -- the starter segment -- that isn't really moving.

There are a number of reasons for that which we could get into off-line, but let's just start with one, which is that mortgage lending is so tight that your potential buyer is probably going to have to pay all cash.

So I think the deal you're offering a broker is to pay them $25-$30K, of which maybe only $7K -$10K is going to end up in their pocket, and that probably after a fairly long haul.

Many of the people who will take this deal will be high-volume "power" brokers (I'd add Fran Katzen and Robby Browne to the above lists) who will be very pleasant to deal with, but probably ultimately managers who offload the majority of your showings.

If it were me, I would take the opposite route; I would want a hyperlocal broker who is dying to have your listing because it maintains their position as the Queen (or King) of XX street.

This is not me, since I live in the 90s, but I think that's the agent you'll get the most attention from. Pick someone with a track record who lives within five blocks of you, and will be able to convincingly gush about the micro-neighborhood for a year.

And yes, wait till Sept. to hit the market.

ali r.
DG Neary Realty

Many thanks, Ali, for your comments, trenchant as always.

But a year to sell!?? Oh geez....

Do you have a suggestion for a hyperlocal broker for us?

I'm afraid it might be a while -- I just took a buyer into contract on a cute little 1-BR in the West 80s, and that broker had it sitting for about a year.

As far as referrals, can I have your address, either here or to my work email {ali (at) dgneary (dot) com}?

If you email me at work, please put "streeteasy" in the subject line so I can find it.

ali r.
DG Neary Realty

mom, is there anything more you can share about your place? Anticipated list price? Maintenance fee, sublet policy, views, amenities, etc. I may be looking for a 1 BR.

front_porch,

"your potential buyer is probably going to have to pay all cash.."

I'm assuming you're referring to those 6 co-op unit brownstones. Do you really see many all-cash deals for 1Brs from local buyers for these types of units?

condos or large 2BR co-ops, yes from foreign or wealthly bankers.
1 BR co-op, I just can't imagine many cash deals

Hi, I would like to give my opinion, I think Brian Lewis is exceptional at his job, I can't imagine anyone not being thrilled by his enthusiasm and professionalism, I really like him and I have only heard great things about him, in particular one of my girlfriends sold her small 750 sq ft 1 bedroom (apt 10k 51 west 81st st) at the absolute horror of the bottom of the market on the 5/2009. All the brokers she spoke to gave a much lower price, Brian ended up being her broker as he will always be going forward (her 3rd property with him) and sold it on the 5th weekend for $827,000 slightly less than the asking of $859,000.

Yes, my friend is an interior designer and did a great job on the renovation and still whenever the conversation moves to brokers...she waxes on about him.

I totally agree with nyc10023, they are my favorite 4 brokers plus I would add Deanna Kory, very classy, and my all time favorite Daniella Schlisser at Corcoran (I can not speak highly enough of her capabilities, hands on determination and sheer pleasure to deal with). [ Disclosure, Daniella has been my selling broker and I believe in giving praise where it is due.]

I would give Daniella and Brian, both a ring and see how you connect to both of them.
Interesting I know Brain does live in the low 70's in the UWS, because he does rave about the area.
Good luck
Please let us know how it goes.
Gabrielle

"your potential buyer is probably going to have to pay all cash.."

Huh? I just purchased a starter home with 25% down...

bugelrex, I would regard Sunny Hong as the expert, not me, but the last three deals I've been involved in have been all cash. One was a townhouse co-op where the buyer tried to get a mortgage, the bank was tough on the building, and then the buyers just said "screw it" and paid cash.

How can people in the starter space afford to do that? Well, they bum the money off their parents. Remember that the government just opened a giant tax loophole so that the transfer of, say, $500K isn't as taxable as it was a couple of years ago.

ali r.
DG Neary Realty