We Love Happy Clients!

Have a look at Keith's Blog for some wonderful praise for our service.  It has a been a very busy season  and I'm proud to have been able to help some really great people.

Latest from the DOJ

Following up on my earlier post, here is the link to the Department of Justice website outlining their thoughts on competition in the Real Estate Industry.  The Burkhardt Group is building a great reputation among NYC buyers embracing what is viewed by the government as a positive force for competition and ultimately a benefit to the consumer.

Here's a sample:

Other options available to consumers

In many parts of the country, the traditional full-service real estate broker now faces competition from a variety of real estate brokerage models, many of which use the Internet to reduce costs:

Fee-for-Service Arrangements

Brokers willing to sell a subset of real estate brokerage services, often called fee-for-service brokers, have emerged throughout the country. Fee-for-service brokers “unbundle” the package of real estate services typically offered by traditional full-service real estate brokers and charge a set or hourly fee for specific services, such as listing the house in the MLS, negotiating or closing contracts, and pricing the home. These brokerage models typically enable consumers to save thousands of dollars by allowing them to purchase only those services they want.

Learn more: Fee-for-Service Brokers

Rebates and Inducements

Some real estate brokers have increasingly begun to compete for customers by offering cash rebates or other inducements to home buyers and sellers. Rebates that go directly to buyers or sellers lower costs on both sides of the transaction.Cash rebates are usually calculated as some fraction of the broker's commission and can result in thousands of dollars being returned to the consumer.

New business models can save consumers money

Most consumers want to make as much money as possible on the sale of their home and spend no more than necessary when purchasing a home. In many cases, the standard broker’s commission can offset a portion of the equity value that has been building up in a seller’s home or push the price of a home beyond a buyer’s purchasing power. Consumers who want to perform some of the steps involved in selling a home can reap significant financial savings by purchasing only those real estate brokerage services they actually want.

Just as the Internet has made it easier for consumers to save money by directly purchasing plane tickets and stocks, it is now making it feasible for home sellers and buyers to do more of the work themselves and pocket the savings.

Learn more: The Internet’s Role in Real Estate Brokerage

OUR BUSINESS MODEL

Simply put, The Burkhardt Group is a full service brokerage that offers flexible fee schedules on the sell side, and commission rebates on the buy side.  I emphasize service because the personal attention and guidance we give to our clients is paramount.  By giving transparent, honest, and knowledgeable service we take a lot of the mystery out of the process.  The client is privy to all communication, makes all the decisions, and is never pushed or "sold" on anything.

The majority of the work we are doing now is representing our clients as their buyer's broker.  In the typical NYC real estate transaction the commission (usually 6% of the sale price paid by the seller) is split between the seller's & buyer's brokers.  Since today's buyer now has access through numerous websites to all available sales listings, and can do so much research on neighborhoods and specific building & unit information, we can reward them for the work they do by rebating 50 - 67% of that buy-side commission back to them at the closing. This is considered by the government a non-taxable event/reduction of the sales price and is championed by the Department of Justice.

Whether the client uses this rebate as a negotiating tool, to offset closing costs, or to renovate their new bathroom, it is a powerful thing.  Combine that with the service we provide and you get a lot of happy clients.  So how does it break down?  Here's a typical email from Keith to a new client:

"Good morning. Basically you just keep doing what you have been doing [searching listings], if you attend a public open house please sign me in as your broker. If you would like to see any listing at a private showing just email me the link with a few days/times that work and I will schedule the appointment. On most of these “private” showings the listing broker will expect someone from our group to be there, Christian Bari my associate is available for such appointments. If we are not available for some reason, as long as we schedule the appointment for you, generally the listing broker will understand if we tell him/her in advance that we can’t be there.

You should limit any direct communication to the listings brokers other than a basic inquiry, if a “conversation” ensues due to one email question about a property, you should let them know ASAP that you are working with a broker, at this point they will tell you to have your broker contact them J Any time we communicate with the listing broker you will be copied on the email, any emails we receive you will be forwarded. We do no initiate ANY substantive communication with the listing broker without you knowing in advance.

If you find an apartment you would like to bid on we will help you put together a bidding strategy as well as draft the initial offer letter, which you will review before it is sent off. After a contract is signed we assist you with the complete board package/condo application preparation including making all required copies.

You are NEVER obligated to use our brokerage services, right up to signing a contract. If at any time you feel you would be better served without us participating in a deal, just ask us to remove ourselves and it will be done, no questions asked, regardless of any work we have done on your behalf.

When you find a property you would consider purchasing you send me a link to the property and I will give you my opinion on its various characteristics and value before you tell me what you would like to pay.

There is also no limit on the amount of questions you can ask via email or phone. We offer rebates to help our clients maximize their buying power and compensate them for their work. We don’t search for listings for our clients, so never have an agenda (occasionally we will make suggestions). This model allows us to work efficiently without being bogged down and getting frustrated when a client “doesn’t buy”; take your time, we are here when you are ready.

This is it in a nutshell. Please feel free to contact me with any questions.

Best,

Keith"

I think a really key aspect of this is that, we are there when the time is right.  The process can take a few months, or a couple of years.  We work with you giving guidance and no pressure along the way.  

Hopefully that gives you a good idea of what our service is all about!

REAR WINDOW

Haven't seen this one?  Do, fantastic film.  One of the all time classic Hitchcock films sends a very strong message about the inherent curiosity in all of us.  Appropriately enough, the film takes place in NY, a suspenseful thriller, the story centers around Jimmy Stewart and Grace Kelly's characters curiosity, if not obsession, with the goings-on out the view of their back window and into the rear courtyard and the neighbor's windows.  Without spoiling it, they get a glimpse of all kinds of juicy stuff and eventually get personally entangled in the lives of those they're watching.

Anybody who has ever lived in a NYC apartment has experienced this (to a lesser degree!).  Even those of us who don't have that direct view out our window into someone else's life, get to watch it on TV, Real Housewives of this, other Reality show about that...  and now we get to watch NYC real estate brokers flaunt themselves in primetime as well!  While I have to admit to being curious, once I found myself watching the details of their dating lives I had to draw the line.  It was the curiosity within me though that had my wondering, what is behind those 12' windows of that Soho loft? or are the finishings inside that new Gehry building as smartly designed as the exterior?  Luckily, my profession allows me to satisfy these curiosities, to see a wide array of interesting properties, architecture, and design first hand. 

That is what I aim to share with everybody reading this.  I'm not just referring to how amazing one place was, how one apartment compares to another, or even what attributes can add/detract from a property's value (very good question), but how can the totality of what I see and experience on a daily basis help you as a buyer, seller or renter in this great city of ours?  I will ask myself that question and hopefully give you some valuable insight.

Now, I am privileged to work at a firm where one of the founding principles is transparency in the real estate world.  Working with Keith Burkhardt at The Burkhardt Group has taught me that the prospect of a NYC real estate transaction does not have to be a daunting, mysterious experience for the client.  Sharing the details of the communication, process, possibilities, and providing guidance, rather then "selling something" creates a positive experience.  Helping the client understand what we are seeing, concerning a specific apartment or building, or the market in general, allows them to make informed decisions, about what is usually one of the most important decisions in their lives.

So what will you find when you read this?  I will be sharing with you how we work, why it's different, and why it's appropriate for the marketplace today. There will definitely be some "real estate geek stuff" like property and market stats for those of you who like that (like me!). You'll get some great stories about deals that are, deals that were, and deals that could have been.  And most probably, you'll see some non-real estate related fun and food for thought.

Hopefully you'll join me looking through my "window."  Just don't expect to see any reality TV kind of stuff :)