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Need a broker to sell my coop

Started by HeenaSV
over 14 years ago
Posts: 1
Member since: Aug 2011
Discussion about
Hey guys, Looking for a broker who will negotiate down to 4% commission. Going to lose money in this market, so trying to minimize the hurt. I own a Co-op studio in Murray Hill. Appreciate any advice/referrals! Thanks!
Response by Hammy
over 14 years ago
Posts: 45
Member since: Mar 2007

Please email penn@tmo.blackberry.net

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Response by justin21
over 14 years ago
Posts: 21
Member since: Aug 2011

Hello,

I am a broker that lives and works in Murray Hill and would love the opportunity to speak with you. When you find a moment please email me at justin@bondnewyork.com or give me a call 347.371.6009. Thank you in advance for your time I look forward to speaking with you soon.

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Response by UESaptowner
over 14 years ago
Posts: 92
Member since: Feb 2009

I am a broker living in Murray Hill. you can email me at db@resnewyork.com

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Response by urbandigs
over 14 years ago
Posts: 3629
Member since: Jan 2006

me me me me me me me pick me...ehh, never mind

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Response by gcondo
over 14 years ago
Posts: 1111
Member since: Feb 2009

no you dont

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Response by jim_hones10
over 14 years ago
Posts: 3413
Member since: Jan 2010

bottom feeding will get you a nottom feeder. suck it and pay the full commission or do it yourself. these agents wont sell it cause no one will co-broke it with them.

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Response by RStenta
over 14 years ago
Posts: 3
Member since: May 2011

Hello Heena,
This might be blasphemous for an agent to say but you will have a greater chance of selling it yourself (and offering 3% to a broker for securing a buyer for you) than listing it with a broker for 4%.

You will be inundated with listing solicitations and requests for "previews" so get yourself a temporary cell # for the cause.

Good luck.

Ryan Stenta
Ryan@kwnyc.com

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Response by dmasonmd
over 14 years ago
Posts: 27
Member since: May 2010

Good luck. I am not sure how the Brokers in NYC have it so good compared to everywhere else in the country. The large brokerages refuse to back off their 6% and leasing agents command 12% of the year's lease, w/ the tenant paying. Commission elsewhere in the US are routinely adjusted down to 4-5%, and these are markets which are much less pricey than NYC. I guess you don't have to wonder why there are son mant Brokers in Manhattan. You can sell 3-4 properties a year and still make ends meet.

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Response by jim_hones10
over 14 years ago
Posts: 3413
Member since: Jan 2010

dmason, you can absolutely find an agent to take a listing for much less than the standard. do uou really want an agent that will give up 17 to 34 percent of their income because they're desperate for biz?

and the rest of this country is going to be the ruin of tbis country. we arent the ones defaulting on every other mortgage.

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Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010

What is the approximate price range for the apartment?

How much is 2% of it?

How does that amount compare to the lingering doubt you'll have in the back of your head during the listing and sale process, and for the next half dozen years, that you could have gotten a higher price if you went with a full priced broker?

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Response by columbiacounty
over 14 years ago
Posts: 12708
Member since: Jan 2009

sieg heil.

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Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010

Now that IS strange.

Are you having a flashback to your time in the Hitler Youth?

Let me help you out - the year is TWO THOUSAND ELEVEN. TWO THOUSAND plus TEN plus ONE. HITLER IS DEAD. COLUMBIACOUNTY IS BALD, NOT A SKINHEAD.

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Response by REMom
over 14 years ago
Posts: 307
Member since: Apr 2009

The previous owner of our co-op used a broker willing to accept 4%. The open houses were poorly attended. The place did not show well. Two accepted offers fell apart. I think you could find quality brokers willing to do 6% for a co-brokered deal and 4% if there's no co-broker.

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Response by vtc
over 14 years ago
Posts: 1
Member since: Jul 2009

When you pay only a 4% commission you actually hurt yourself by losing a higher amount of brokers who will be excited & motivated to show & ultimately sell your apartment. Brokers are sales people, and need to be motivated to do what is involved to get you the seller the highest and best deal on your property from a qualified buyer. If you take away the incentive to the brokers, you're the one who will lose in the end. Many people do not realize that the fee the brokers/sales agents receive is split with their firms and in many cases brokers/sales people need to pay for advertising and marketing to get your property sold. It's a costly endeavor to do it correctly. If you use the right broker and firm you benefit by having a much greater amount of potential buyers see your apartment, through their website, the various marketing tools a sharp broker and good firm can provide _ ultimately resulting in the highest and best offer from that qualified buyer. In the end you have a much better chance of not only getting your apartment sold, but having the deal actually go through and close.
Victoria
VTC@Corcoran.com

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Response by West34
over 14 years ago
Posts: 1040
Member since: Mar 2009

coop studio in murray hill is probably $350,000, so what you brokers are saying is that it's not worth the hassle to make a paltry $14,000?

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Response by West34
over 14 years ago
Posts: 1040
Member since: Mar 2009

You know the Mercedes salesman down the block probably earns an extra $500 for each S class he moves. That's $1500-2000 on $350,000 worth of cars.

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Response by w67thstreet
over 14 years ago
Posts: 9003
Member since: Dec 2008

Bottom feeder calling out bottom feeder. We got really young and hot girls behind our glory hole!!!!!!!

It's worth the extra $10 if yOu 'believe' channel your george costanza here.

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Response by jim_hones10
over 14 years ago
Posts: 3413
Member since: Jan 2010

West34
about 2 hours ago coop studio in murray hill is probably $350,000, so what you brokers are saying is that it's not worth the hassle to make a paltry $14,000?

Bad math. We're obligated to co-broke if we list it (rebny members). so assuming you took the listing at 4% and a buyers broker came in you'd be looking at 2%. Then split it with your firm. Worst case scenario is $3500.

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Response by Mets79
over 14 years ago
Posts: 60
Member since: Nov 2008

$14,000?? Most deals in NYC are a co-broke. So the buyer's broker gets half. Now we are down to $7,000. Depending on your company and experience, your split is anywhere from 40/60 to 80/20. Let's meet in the middle at 60/40. We are down to $4200. Taxes take another third and I have now made $2772 on that commission. Studios in particular are hard to move in this market: there's a lot of them out there, especially with softer 1BR prices. So let's assume that it takes 6 months to sell this studio. That's $462 per month.

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Response by er1to9
over 14 years ago
Posts: 374
Member since: Mar 2007

do brokers do 5 % for a property worth 800- 900 k?

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Response by StreetEasySupport
over 14 years ago
Posts: 300
Member since: Jan 2006

Since we just launched it, we figured it wouldn't hurt to put a shameless plug in here for our new Shop for a Broker tool--it's a cool way to find an agent in the area and price range you're looking to buy or sell your home in. Check it out, and let us know what you think!

http://streeteasy.com/nyc/shop_for_a_broker

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Response by jim_hones10
over 14 years ago
Posts: 3413
Member since: Jan 2010

er1to9
about 3 hours ago
ignore this person
report abuse do brokers do 5 % for a property worth 800- 900 k?

desperate ones, sure. or independants. but the co-broking issue.....

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