How Upstarts are competing for the New York Real Estate Market

New York is one of the biggest and most populated cities in the world. The demand for housing is higher than the available units. RE/MAX is a new player in the local real estate scene and has put place in plans that will see it take the market by storm. These plans entail powering up local brokers in bid to gain a footing across the city. The company is predicting that the success it had in other areas such as Pennsylvania and England will be duplicated in the state.

How other Startups are Fairing on

Over the past half-decade, several upstarts have experienced remarkable growth since they entered the state’s real estate scene. These firms include Keller Williams, Rutenberg Realty, BOND New York and Town Residential

Keller Williams uses an eccentric business and profit-sharing model that gives brokers a 70 percent split of the commission so that they can recruit other brokers. Rutenberg splits the commission by half. Agents also keep 90 percent of the commission but resident brokers pay a monthly levy of 99 dollars. In return, they get office stationery and benefits from advertisement services. They also benefit from the company’s extensive network. The BOLD has grown terrifically and currently has more than 80 employees in its fold. It is in charge of one on the city’s exclusive properties, Moinian’s SKY. The article was originally reported on the Real Estate Weekly and can be accessed through this link; http://rew-online.com/2016/03/04/all-eyes-on-suburban-workhorse-as-it-makes-fresh-push-into-new-york/

TOWN Residential in brief

The company was formed in 2010 by seasoned realtor Andrew Heiberger. It is affiliated to Citi Habitats. Town Real estate of NYC luxury real estate has adopted a model that is in total contrast with that embraced by other firms. It does not have commissioned agents but instead, it has offices in virtually all localities. It believes in spending huge on marketing. Opening many offices across the city is one of the ways it uses to market itself.

The firm uses representatives instead of brokers. These are experts skilled in the industry. They provide unparalleled services to clients. The company sells and lets out high end residential and commercial property. Currently, it is in charge of 1355 First Avenue and 201 East 71st Street, two of the most elegant properties in the city.

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