Hi guys a question from watching HGTV's selling New York... We all know that sometimes in order to sell a property, it may be a good idea to beautify the property before putting it on the market. It can be minor things like re-painting the apartment to major renovation work that involves updating the bathroom/kitchen, etc. Now, some brokers from the show seem to be willing to spend their own money... [more]
Hi guys a question from watching HGTV's selling New York...
We all know that sometimes in order to sell a property, it may be a good idea to beautify the property before putting it on the market. It can be minor things like re-painting the apartment to major renovation work that involves updating the bathroom/kitchen, etc. Now, some brokers from the show seem to be willing to spend their own money to hire stagers, interior designers, get furniture/paintings/decorative art pieces in, etc. to beautify the apartments. One broker even went as far as using part of her commission to fix the apartment herself, since the seller refused to spend a penny on fixing the very outdated apartment.
Is this real?? I have sold a few apartments in the past few years and every time I had to pay from my own pocket to re-paint the apartment, order new draperies/window treatments, install new appliances, and do all sorts of things, before putting an apartment on the market. One time I had to hire the service of a stager too, and no the broker did not pay for it.
I wonder if these kinds of cosmetic work, to be paid by the seller's broker, is something that can be negotiated before I list my next apartment with a broker? To get an interior designer to bring furniture/works of art in, probably costs nothing to a broker who is well connected. But I wonder if I can request all these to be done before signing up with my next broker?
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Response by caonima
about 14 years ago
Posts: 815
Member since: Apr 2010
especially in nyc, brokers should pay for all these. coz price is too high, brokers do nothing for their free money.
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Response by front_porch
about 14 years ago
Posts: 5320
Member since: Mar 2008
Peninsula, everything in a listing is negotiable, but I think generally broker behavior depends on market segment. I know one very high-end broker who basically has a warehouse full of furniture that he uses to stage apartments, but he's not going to exercise himself over a $750,000 property.
What I tend to do is to suggest a list of things that need to happen to show the property in its best light, and then negotiate with the seller as to how to get those things to happen.
My guess is that in the case of the TV show, the show budget is actually covering some of those costs.
Certainly I would not ask an interior designer friend to work for free any more than I would ask a baker friend to make me a free cake.
ali r.
DG Neary Realty
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Response by huntersburg
about 14 years ago
Posts: 11329
Member since: Nov 2010
>What I tend to do is to suggest a list of things that need to happen to show the property in its best light, and then negotiate with the seller as to how to get those things to happen.
This from the broker who has stated that price doesn't matter to the broker, only volume of apartments sold.
especially in nyc, brokers should pay for all these. coz price is too high, brokers do nothing for their free money.
Peninsula, everything in a listing is negotiable, but I think generally broker behavior depends on market segment. I know one very high-end broker who basically has a warehouse full of furniture that he uses to stage apartments, but he's not going to exercise himself over a $750,000 property.
What I tend to do is to suggest a list of things that need to happen to show the property in its best light, and then negotiate with the seller as to how to get those things to happen.
My guess is that in the case of the TV show, the show budget is actually covering some of those costs.
Certainly I would not ask an interior designer friend to work for free any more than I would ask a baker friend to make me a free cake.
ali r.
DG Neary Realty
>What I tend to do is to suggest a list of things that need to happen to show the property in its best light, and then negotiate with the seller as to how to get those things to happen.
This from the broker who has stated that price doesn't matter to the broker, only volume of apartments sold.