Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read aboutThe Big Apple, check out the other of today’s posts and look for Out and About early next week.
The garden I tended behind my rowhouse in Washington, D.C.
How tempting it is when you get an unsolicited offer to sell your home before you put it on the market.
Maybe you’ll have no, or at least a reduced, brokerage fee. There’ll be no open houses that require your preparation and evacuation. And forget about the anxiety of waiting for a buyer to bite, conducting fruitful negotiations and wondering, “What if?”
Don’t do it.
The situation arises more often that you might imagine. Hell, it happened to me when I moved back to Manhattan from Washington, D.C.
But don’t do it.
There is ample for reason for rejecting an early offer or equivocating should one surfaces: Continue reading →
There, I said it: Broker compensation is indefensible.
An independent broker who is a friend of mine and I were having — how to put it? — a robust discussion that centered on commissions the other day (without violating anti-trust laws, heaven knows).
I ventured an opinion that I hold strongly and have put on the record previously, that percentage commissions make no sense to me. So “Bill” asked me what was the origin of my “guilt,” adding that he had to support a family of six. (Nor should the choices he has made bear on his occupation and income.)
My rejoinder was that guilt had nothing to do with my position. Instead, said I, Continue reading →
A casual buyer to whom I’ve sent listings and shown apartments occasionally over the last year or two called me last week to say that he’s found the one he wants to purchase. It is in Fort Green, Brooklyn, and I have yet to see the studio.
But he wanted me to represent him. Terrific, except that he already had visited the condo in a new development called 96 Rockwell Place. Twice.
Worse, he has had substantive conversations with the sales associates there and even told them he wanted to make an offer.
The broker friend of mine I call Lily recently related an encounter of hers that bears retelling.
She has an old acquaintance who wants to list his two adjoining apartments totaling something like 10 rooms in a building on Manhattan’s Upper West Side. Naturally, he called Lily to see whether she would be the right broker to market the pre-war condo.
A highly successful broker for the last 27 years who seems to know every apartment in the neighborhood, not just every building, she spent hours analyzing comparable listings and visiting other large apartments that came on the market. Then she arranged to get together with the seller.
They met, they talked, they considered selling the apartments separately or as a package, and they wrangled about price in the $3 million to $4 million range. Continue reading →