More Information on the Legality of Commission Rebates in NYC

This section from the DOJ is specifically about New York. There is a letter from the DOS to the DOJ clarifying the statute regarding commission sharing in New York.

"Real Property Law section 442 prohibits real estate brokers from sharing commissions obtained as a result of a real estate transaction with individuals or corporations who are unlicensed. The purpose of this prohibition is to prevent licensees from compensating unlicensed individuals for services rendered that would otherwise require a real estate license. Insofar as the statutory intent of Real Property Law section 442 is to discourage unlicensed activity, offering cash or promotional gifts, such as a cash rebate, in order to attract a new customer or client does not run afoul of the statute."

This is important as it clearly defines the difference between a "kick back" and a rebate to a purchaser. We utilize our firm's structure and legal right to rebate a portion of our commission to the buyer to facilitate deals. This benefits the seller, buyer and BOTH brokers as deals get closed smoothly and efficiently, leaving the buyer feeling fully satisfied emotionally and financially!

Read the full story here from The US Department of Justice

Team Burkhardt Delivers Again!

Like I have said before, the model brings them in but the superior, transparent service keeps them with us.


"Christian, thanks for your immense help.  Joe touted your resourcefulness during yesterday's walk through.  You have been a pleasure to deal with.
Keith,  your model deserves praise.  We get a check and didn't experience a degradation in service level.  The dedication and guidance was all well placed and helpful. Much further success to your firm."

From Two Wonderful Buyers!

"Just wanted to add my heartfelt thanks as well. It's funny because before you guys, we were dealing with a very nice and well-known broker, but they were completely unresponsive.  At times, they didn't call us back for over a week at which point we decided to find someone else. Then I remembered reading about your company in the NY Times and thought, "why don't we just call and see what the deal is?"  I have to say we are extremely happy with how everything worked out.  Keith, your honest insight, guidance and thoughts throughout made the entire process pretty painless - in fact, it was easy and almost fun. :)

One thing I wanted to share was we were a little surprised at how happy the seller seemed to be.  Even though he's selling at a loss, he seemed eager to move forward and was very pleasant. XXXXXX and I felt a little bad about the price and were worried he would be upset, especially considering where others are listing their units etc.  But I think it turned out to be a win-win situation for everyone, which is great.  

I think the business model you guys have set up is quite unique and we really enjoyed working with you both. We wish you guys all the best and hope we can do business again in the future. I'm totally telling all my friends if they want to buy a place, you should be their first call. Take care

EL"

Haus Design

Some great design ideas or help if you need it.  Also check out all the wonderful home accessories!

Haus Interior

Some People Think we just Rebate

Quite frankly, we do so much more and our clients quickly realize this. We guarantee our service 100%. If at any time, right up to signing a contract, you want to "fire" us...go ahead. You are never obligated to use our services, no matter how much time and work we have put in, if you have not been satisfied with the level of service provided to you.

"Thank you Keith. As always, your opinion is rational and believable."

-And this is from a Scientist! Lol.

Redfin Coming to Manhattan?

Redfin has been doing commission rebates along with providing transparent business practices for many years outside of NY. But a few years ago they started offering their services in New York but not Manhattan or Brooklyn. This is going to change, according to their website's forum, they are looking to set up shop in Manhattan. This could be a game changer for the buyers and sellers of NYC property. I have referred many buyers/sellers from outside of NYC to Redfin.

The Burkhardt Group has certainly changed the landscape by offering the once-unrepresented buyer a business model to suit their particular needs. But Redfin is a much larger company with quite a bit of resources. It will be interesting to see how they do here. 

Our focus has been more of a boutique-approach, solely servicing buyers (we no longer list homes) with a very hands on, analytical approach tailored to the sophisticated client base of NYC. We understand that buyers need and expect an equally sophisticated, knowledgeable level of service. I love what Redfin has been doing to offer an alternative model for buying/selling real estate. I'm just not sure how they will do in the Big Apple. Guess we may know sooner than later. I welcome their arrival as I truly believe that the more options the consumer has, the better it is for all players in the game. Competition drives creativity and the creation of more efficient models!

Why do Listing Brokers/Sponsors Love us?

That's an easy question to answer: we deliver satisfied clients that close with a smile on their face. We make even difficult deals easy from start to finish. We have developed a streamlined digital co-op application process and can easily share details of the application online in real time to make it easy to make changes on the fly.

We also believe in cooperating 100% with the listing broker and their team. Which includes conference calls with our client to discuss and review the application as well as open access to the client via email to discuss the board application process or for a transparent review of any information relevant to a successful deal. It's a team effort all the way.

"Otherwise, one of the best packages I've seen in a while, and I am really picky."  
-Broker after reviewing a draft of a recent board package.

We look forward to working with you to get your listing sold!