No Brokers Please
New Trend emerges in New York City Real Estate Marker for Sellers
Conventional wisdom in New York City that sellers of apartments cannot sell on their own because of the complex systems of co-op & condo apartment approval process, an owner’s lack of resources & experience and marketing reach. Recent studies by the National Association of Realtors have opined that owner sales don’t get the same Net Dollar figure as broker sales. No Brokers Please is filling the void by creating a hybrid model between the brokerage system with high fees and the for sale by owner (FSBO) market with less success by offering a model without commissions, with broker consulting, and the tools needed to sell real estate.
Jason Halperin, the seller of 29 Tiffany Place, 3L, faced a daunting challenge as they decide to put their condo on the market and to eschew the service of a broker. What they decided to do was a FSBO sale in one of the most complicated real estate markets in America. «We were definitely concerned. Specifically, we were concerned about marketing the apartment, hosting prospective buyers and then negotiating without the assistance of our broker».
No Brokers Please solved their issues by combining FSBO selling with consultation from founder and active broker, Thomas Demsker. The No Brokers Please web site nobrokersplease.com provides packages as well as a la carte menu of individual services needed in a competitive market. «The web site is a brokerage for FSBO sellers without the huge sales commissions. It provided all the things we would need to sell like a broker, from professional photographs, floor plan and advice throughout the process», said Halperin.
After purchasing a photography & floor plan session, Street Easy Ad and one month of broker consulting from No Brokers Please’s a la carte menu, the Halperins embarked on getting their apartment materials and marketing ready. «We sent NBP multiple questions per day. They advised us from the outset on the language for our listing and then through the final negotiations. The process was actually fun and exciting».
Demsker and No Brokers Please guided the Halperins through the open house and bidding process, advising on the offers and bids received, and helping them receive $60,000 more than the most recent brokerage sale of an apartment in the same building – and No Brokers Please was paid $0.00 in commissions.
Demsker says, «This follows our overall trend with No Brokers Please members as our sales are averaging 3.17% over the asking price, and netting sellers more money than through brokerage sales».