We need a way for buyers to name their price

I'll fight you for that space at 1.3 or 1.4. Why not try making an offer on a place that is listed for sale? Isn't that how buyers name their price? I would say that sellers who are not in the market, are enjoying their lives in their classic 7s, and are not looking for such offers.

Buyers can always name their price.

Buyer: "I'll offer you 2 million for that alcove studio."
Seller in a bull market: "Screw you! I won't entertain offers less than 3 million."
Seller in a bear market: "No! I will only accept 1.5 million, no more."

Etc.

We call this negotiation.

I hear you, snossel. It's a good point, a buyer's version of Zillow's "Make Me Move." It's a paradigm shift, so it may need to be fleshed out for others to understand. Is this what you're getting at?:

Why should buyers be limited to what's on the market? What a particular broker knows about? Why not allow potential sellers access to what a particular buyer wants? Maybe SE would be interested in a feature where you have a "listing" for the features you want and sellers or potential sellers can search for buyers. Sellers could pay for access to the info. This could save people a ton on brokers. It would work well in estate situations, where heirs may be happy to compromise on price to stop eating up the estate with monthly expenses.

It may be that regular negotiations can provide the same effect if sellers believe they cannot successfully hold out for a price. To me, however, what you are suggesting is a good use of the Internet to connect people on deals and lower the hassle factor and transaction costs. Develop this idea, take it to SE or start your own site. I would definitely consider it for a small fee or if the seller paid for access to the "listings." Go for it!

A classic 7 for $1.3 fully renovated? HA! THat's funny. Thanks for the laugh. Where the heck did you come from? Iowa? Whatever prices are in the 1 traffic light midwestern hell hole you came from, multiply them by 5 and that is what you will pay here.

ebay?

alpine292,
No kidding, what a joke, huh? I told the guy I would fight him at 1.3 and I am sure plenty of people would take it higher.

What is the use of setting up some database of unrealistic buyer expectations that can be searched by sellers? Buyers should look at what is on the market and settle for something that fits most of their criteria, making trade offs as they see fit. New York is all about living with trade offs.

I want to live in the Campbell Apartment in Grand Central Station for $300k but that's not happening either.

http://en.wikipedia.org/wiki/Campbell_Apartment

alpine292 and 407PAS you are hysterical! (in a "funny haha i agree with you" way) :-)

>>I for example would like a classic 7 or similar space with 3 bedrooms plus office or maids and would like to pay $1.3 or 1.4. <<

Another head-up-the-ass delusional buyer. Or else a joke. Can't really tell...

>>Maybe SE would be interested in a feature where you have a "listing" for the features you want and sellers or potential sellers can search for buyers. Sellers could pay for access to the info.<<

Get real. What seller in his/her right mind would waste time trolling for buyers in the CLASSIFIEDS for crissakes? If a seller wants to "save a ton" on brokers, he'll go FSBO. He won't PAY to peruse some wannabe buyer's out-of-touch-with-reality want ad for a $1.4M classic eight with direct Central Park views.

I am with Snossel. A while back I posted the thread
"Where's my 3br 2ba for $1.249 million in the UWS" and a number of people here made fun of me. I was told that I was delusional since the lowest this could be found at was $2.5 to 3.5 million.
Over time I learned that the Classic 6 was not what I wanted. I really meant the classic 7 with what I had in mind, since that is what I currently rent.

Today, there are a number of classic 6's in the UWS or fake 3br/2ba apts that can be had (not asking, but likely selling for this price)
I full expect that the classic 7 will follow suit. Alpine292 is clearly joking. He wants a buyer to offer him 800k for his Mcmansion in Alpine, so he can ski Colorado.

Sellers are still pegged to peak prices, in the 2br range between 1-2mil. I really think they are going to be shocked at what buyers will pay in 6-8 months, and wish they had been more flexible. I also think a large number of re brokers will be out of business during 2009--the same people now telling people that they will get their price if they just hold out...the house of cards is coming down with the new reality of wall street: no more significant leverage. A large part of this problem is due to uneducated re brokers who don't read the paper and don't understand economics. I've met with a few of them lately. They say things like "you never know" and "things are starting to pick up again." PLEASE.

This whole business will change in 2009, to one supporting the buyers, instead of feeding BS to the sellers about what they can get to lock up an exclusive.

given that there are many brokers here, it is very reasonable to set up a discussion on any properties someone wants to put a serious bid on, and let them at it. Then an enterprising broker who is hungry enough can jump in and offer to represent one of the buyers. Let the games begin.

Joe Davis, we just did such a deal on a development in Chelsea, I knew from a previous sale just how much the developer was willing to go down to sell their final units, and we took a good faith low bid and submitted it,and after a little negotation we reached terms contracts are out now, it is for about 400k less than the original asking price, plus the seller is paying all closing costsnow in the 1.5 range, was in the 2 mill range. Clients are happy and developer is glad to have one less to deal with. Client would have originally put in a muc higher bid had she gone directly to the sales agent, and I have saved her about 250k of assets.

>>given that there are many brokers here, it is very reasonable to set up a discussion on any properties someone wants to put a serious bid on, and let them at it. Then an enterprising broker who is hungry enough can jump in and offer to represent one of the buyers.<<

Are ye daft, man? Why would anyone want to attract a gaggle of 'hungry brokers' to pester them for business? If I want 'representation' from a buy-side broker (and generally I DON'T, preferring to use my own negotiating skills rather than relying on a third party) I'll go out and find a (competent) one myself. As it is most buyers already field endless updates and emails from brokers they've met along the way, all desperate for a deal.

Perhaps it's a 'game' for you, but no serious buyer would waste the time. Have fun!