Wednesday, October 12, 2011

Buy-side Brokerage Re-Imagined

It's no secret that many people do not care for real estate agents, I think for the most part it's sales people in general. The perception with real estate agents is that they push you into either buying or selling based solely by their motivation to earn a commission. In some cases, in any business model this is certainly true. When you watch "Selling New York" you see this in action first hand by some of the players, (not all) and it certainly makes it hard to watch, even for a broker!

Besides some of the other characteristics of my business model, the fact that I do not specifically search and then   recommend  properties to buyers is a bit different than what a typical agents relationship with a client entails. I get involved after a buyer has located a property that they are interested in, then I work with them to understand value and develop a strategy going forward. There is never any pressure to purchase, never any animosity because  I have spent so much time with them; many buyers have been looking for a home for 1-2 years and I have maybe seen them several times. But when they do find "The One", then we spend a lot of time together (in cyber space) fleshing out the deal.

This formula is certainly not for everyone, but the clients who come to me are always very happy with the totality of the result, from honest analysis of the property to the follow through to close.

An email after a recent closing:

Hi Keith.
And thanks for all of your help and insight in this process.  When you and I first spoke on the phone in the spring, you described a process that sounded perfect for us -- and it turned out to be just that!  It really was a pleasure getting to work with you.  I indeed look forward to more opportunities, whether at our other closing, or sometime very soon.
Thanks for everything!
Warm regards,


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