Friday, June 23, 2017

Many Thanks to Our Wonderful Clients! #188 Agent Wall Street Journal/Realtrends!

It has been quite a journey. When I first conceived of the Burkhardt Group I was met with many naysayers and skeptics who thought it would never work in NYC.  That you could not operate a 'buy-side' brokerage and last, only listing agents succeeded over the long term.

The problem with that hypothesis is there was never a buy-side focused company that was tailor made for buyers and their specific needs. I also focused on all the complaints I received from buyers or read on those early Streeteasy forums. I tackled each one and made changes until I hit on a model that worked seamlessly and addressed these shortcomings. 

We have seen quantum leaps in financial services, transportation services, shopping (Amazon) and travel services that have made it easier and more cost effective to transact. I brought that concept to real estate. 

Thursday, June 22, 2017

10% Down on a NYC Condo? Yes!

Many agents will look at you like you have 3 heads if you tell them you are financing 90%. That said outside of NYC a large portion of homes sales are done with 90% financing, in many cases even 97%.

So here is some hope for those that want to buy, however don't have 20% down or would simply like to save some cash for renovations.

We have now completed 3 deals where our clients secured 90% financing and it was pretty smooth sailing. Now these were all on deals where the seller was willing to accommodate because other options were limited. The quote I have pasted below is from a buyer who just closed at 338 Berry street;

"Keith, Norman, Christian

It was a pleasure working with you!
Thanks for your help throughout the process, and answering all our newbie questions & anxieties.
We are all packed and moving in tomorrow!

We were able to go with 10% down.   
Sunny @ Citizens actually came through, and moved very quickly for us.  They did give us a bit of a fright with an underwriting document request Friday @ 6pm.  It freaked me out, but Sunny said it was not a big deal, and the file would clear on time.  Overall was very happy, and they were extremely responsive.

Guardhill was also offering 10% down, though moved a bit slower and had higher rates.  Beyond them, I believe PNC is also doing 10%.  

SoFi was too much of a blackhole, so I didn't bother proceeding with them once the other lenders came through.  

Interestingly it seemed like most of the banks that wouldn't do 10% really wouldn't do 15% either (except on sub-$1M).

All the best,
Steve & Cristina"

Saturday, June 17, 2017

This Says it All

Hi Burkhardt team

Shveta and I wanted to thank you for all your help in our long journey to find our apartment. We ultimately found something that we hope will be the perfect place for our family.

I must say that your business model is ideally suited for today's environment. As we discovered through the process, in the industry there is ample technology solution to the discovery of new listings, yet the bid and closing process remains very inefficient. Your firm is set up to focus on the parts of the process where it is most helpful, with a no-frills-when-not-needed style, which combined with the rebate model is exactly what the competitive NY market needs.

Also the team is lean yet offers the complimentary skills that is needed to deliver a complete service. Keith you have always provided very genuine advice. Christian - you have been an example of cool headed and efficient execution at crunch time. Lance you have diligently showed us to more than 50 apartments during weekdays and weekends.

Once again, thanks all of you. I will be more than happy to provide references if you should require.


Monday, June 5, 2017

This is What We Work For

Thank you very much for the warm wishes. It was truly pleasure to work with you, Christian, and Norman. We appreciate all of your guidance, expertise, and support throughout the entire process. The beautiful handwritten card with the check that Christian handed to us at closing was a wonderful surprise.

I also appreciate your recommendation for Weidenbaum & Harari. Barry and his team were great.

I will definitely be sharing the positive experience we had working with you and recommend you highly!
Best regards,