Where is the square footage?

Thread apparently got hijacked by Russians!!

Here is the link.

https://streeteasy.com/building/new-york-county-national-bank/203

I would recommend reading this article on how square footage is measured in NYC, if there can ever be a "standard:"

https://www.hauseit.com/how-measure-square-feet-real-estate-nyc/

Bulking up that SEO are ya hauseit?

Urban, Are they just a go between the customer and whichever real estate broker will take the business? Or do they employ real estate brokers? While it is good for the consumer to get lower commissions or buying rebates, how does a customer know who and what quality they are getting?

Is there a securities brokerage equivalent or would that be illegal?

@ 300_mercer: Good one and I believe it is illegal to pay a commission to non brokers as part of a real estate deal as a finder's fee or marketing fee. As an example Open Listings, an Internet-based brokerage that helps homebuyers “shop without an agent” in California, was recently offering to pay $500 to anyone referring a client who then bought a home with the brokerage. The company has since ceased offering the “finder’s fee. This shed light on a client acquisition strategy was illegal under federal and state law.

Nicole

Also, as far as I am aware, all officers in the company must be licensed as brokers.

I do not think that is the case. They seem to be just a go between without name of any individual listed on their website. Again, there is nothing wrong with the discount model which is completed legal but the broker name I would think has to be transparent.

"The services marketed on Hauseit.com are provided by licensed real estate brokers and other third party professional service providers. Hauseit LLC is not a licensed real estate broker nor a member of any multiple listing service (MLS)."
- from https://www.hauseit.com/how-counter-offer-real-estate-deals-nyc/

This makes me wonder how they are collecting fees legally.

@ 30yrs_RE_20_in_REO: to make it legal they need to collect a fee wether a deal happens or not, in other words they need to sell "leads" to brokers but if they collect a fee per deal this is illegal. Any way to hide that is just putting lipstick on a pig

So it is really a lead generation platform? They get paid per lead regardless of whether a customer who goes via them gets a good service or not (understandably the broker is licenced). So they work for the broker rather than broker working for them.

Makes you wonder how much they could charge if they are referring 1% deals which are at risk (i.e. the broker isn't even guaranteed to get that). And also makes you wonder if customers are actually getting "the best brokers" because I don't know how many of the best brokers are going to work for "potentially 1% but definitely minus a referral fee whether they consummate a deal or not." Or am I missing something?

I do not think so. Good brokers do not need to go to Hauseit. They may choose to offer rebates as the work for the broker is less than in the past due to increased information transparency due to Streeteasy for the buyers and sellers. There are still many people who need a lot of handholding and they will continue to pay full commission.

Good brokers do not need to work with discount brokers, period. So please go back in your hole and continue fighting each other. We'll keep setting spam filters for when you try to email us. Oops! Works for us!