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21 Houses sold in Park Slope in last 6 months. None were ever listed on StreetEasy.

Started by kgg
over 17 years ago
Posts: 404
Member since: Nov 2007
Discussion about
I suppose that local brokers and insider/word of mouth is how homes get sold outside of Manhattan.
Response by nyc212
over 17 years ago
Posts: 484
Member since: Jul 2008

I recently had a lapse in judgment and considered buying in Brooklyn. There, I spoke to a realtor, who didn't even know what Streeteasy was. Of course, she wasn't at one of 'em major firms, such as Corcoran or Elliman; she was at a small agency with K-Mart furniture and brown carpeting from the 1970s...

Apparently, OLR is the only online system their office has access to--and they barely use it. As you say, kgg, it's a whole different world down there, it seems.

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Response by kgg
over 17 years ago
Posts: 404
Member since: Nov 2007

Still surprising. The Slope is filled with ex-Manhattanites. Not exactly Far Rockaway or Canarsie.

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Response by SourPickle
over 17 years ago
Posts: 1
Member since: Oct 2008

Just because it isn't on Streeteasy doesn't mean that a property is not advertised. There is no compunction for an agency to have listings appear on Streeteasy.

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Response by kgg
over 17 years ago
Posts: 404
Member since: Nov 2007

Just a heads-up, particularly for anyone looking for a townhouse in Park Slope.

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Response by abrokernyc
over 17 years ago
Posts: 21
Member since: Oct 2007

I would think that a home owner would want their home marketed as widely as possible...

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Response by Lucid
over 17 years ago
Posts: 68
Member since: Oct 2008

I know of a single family brownstone in Park Slope right off the park which will be on the market (unrenovated and for the first time in a while) in the next few months. From what I gather, it will be given to a local broker. I think this is common there, and don't know why.

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Response by kgg
over 17 years ago
Posts: 404
Member since: Nov 2007

Are you going to buy it Lucid?

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Response by tina24hour
over 17 years ago
Posts: 720
Member since: Jun 2008

Brooklyn is different, it's true. Many of the small firms are not members of REBNY, and don't automatically upload their listings to Streeteasy. And some properties change hands without any advertising at all - owners selling to family members, investors changing holding companies, sponsors selling to former renters. That's true in Manhattan as well.

People list with small local brokers - who may have little or no web presence - because those brokers know how to price and sell properties within their own neighborhood. They've been doing it for decades, through boom and bust. They don't have ridiculous overhead expenses to worry about. They know everybody. They put the listing up in their storefront windows and potential buyers walk by and see it, go to the open house, decide whether or not to buy. It's not as crazy as you might think.

We also have a guy who drives around in a red panel truck ringing his bell. He sharpens knives and scissors while you wait. I don't think he advertises on the internet, either.

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Response by Lucid
over 17 years ago
Posts: 68
Member since: Oct 2008

kgg, I wish I could afford it, but my guess is that, even in this market, it's worth $5-6 million at least, and I'm not. I'm just watching it to see when it actually goes on the market, and what happens then. I'm a pretty dyed-in-the-wool Manhattanite, though the Slope is sometimes tempting. I sometimes have business out there, so it's a neighborhood I keep an eye on, and I also watch Wash Hts, nearby Queens and Riverdale.

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Response by VM1
over 17 years ago
Posts: 14
Member since: Jul 2008

Tina, I was interested in a prewar walkup condo in Park Slope earlier this year that was listed by a local broker, and it was complete amateur hour. They couldn't answer the simplest questions (like "how many units in the building?" and "what are the taxes?"), and they tried to convince me that the prices in the Richard Meier building were appropriate comps! I thought the place was overpriced, they wouldn't negotiate, and I passed; they never sold it and finally took it off the market last week. I'd like to start looking again in a year or two when things settle down, and I'm dreading it, because dealing with so many little brokers who don't advertise widely, refuse to co-broke, and have so little info on their Web sites seems like a miserable experience. If anyone has any tips, I'd love to hear them.

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