Answers Depend on Who, Where You Ask

I got two, very different answers to that question in New York City yesterday, barely 2 hours apart.

“Terrible,” said the owner of a Forest Hills title company, who noted few transactions, and a stalemate between owners who are in disbelief about current prices — and buyers who expect them to fall more.

“Great,” said a broker in Brooklyn Heights.

She focuses on rentals, which are booming.

Easier Way to Make $5k?

The rental math did seem compelling – at least if you use New York numbers.

So, if apartments rent for $3,500 a month (they do, in Brooklyn Heights), and agents collect a 12% commission, paid by the renter (they do in NY) . . . that comes to about $5,000.

And that’s without multiple showings, inspection issues, financing hurdles, complicated closings, etc.

Hmmm . . .

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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