Private ‘MLS’ permits statewide property search

Everyone selling real estate and most prospective purchasers realize that there is no Multiple Listing Service (MLS) in New York City.

That void results in brokers having to resort to their shared databases through systems such as OLR (OnLine Residential), though listings by many boutique firms never appear in them.

Still, the vast majority of listings are fed into StreetEasy.com, where many buyers check to see what’s available along with services such BuyFolio.com.  Both the New York Times and Craigslist can be sources of properties being sold by their owners without brokerage assistance.

It’s not a great system.

Little did I know until meeting Dawn Pfaff at a monthly dinner meeting of the Lucky Strikers Social Media Club that there exists something she has describes as a statewide MLS.  Sort of.  Continue reading

Before e-mail and texts, there was the telephone

Alexander Graham Bell and his handheld.

A friend who attended the most recent monthly dinner meeting of Lucky Strikers Social Media Club was telling me there about a price negotiation that had her in a fury.

The numbers were something like an asking price of $2.7 million and her buyer’s offer of $2.2 million.  This experienced broker said the market value probably doesn’t support as much as $2.3 million.  But the listing agent contended otherwise, stubbornly.

Teeth gritted, my friend, was punching a text message into her handheld arguing for her position, at which point I, being who I am, felt the need to interject my opinion that an e-mail or text message was no way to conduct a negotiation.

“But I’m afraid I’ll explode on the phone,” said she, whose Continue reading

States: Real estate agents are somehow special

656' custom Gigayacht can be yours for only $499,555,000.

What is a real estate agent, after all, but a salesperson?

Those well-dressed folks behind the counters selling million-dollar bling at Tiffany’s are salespersons too.  So are the glad-handing folks bounding after consumers in automobile showrooms.  If I were to wander into a yacht brokerage, I imagine I would find a salesperson or two there as well.

But as my friend, lawyer and real estate broker Scott Forcino, observed during the last monthly dinner meeting of the Lucky Strikers Social Media Club, only real estate agents and brokers bear the burden of fiduciary responsibility to their customers and clients.

I never noticed Continue reading