Talking Manhattan

Today, Noah and John from UrbanDigs explore the state of the Manhattan real estate market with Stefani Berkin, President of R New York and real estate broker. Stefani leans on her extensive experience and leadership at R (over 800 agents!) to share valuable insights on current market conditions, the importance of staging, pricing strategies, and the evolving role of buyer's agents. In yet another insightful episode, she discusses the art of building trust with clients, navigating challenging conversations with sellers, and the secrets behind successful real estate transactions. Grab some coffee and take a listen! Highlights: 00:50 - Pricing properties correctly and the role of staging 02:00 - Managing client expectations and the industry's rapid changes 03:10 - The evolving role of buyer's agents 05:15 - Conversations with sellers and the dangers of overpricing 07:25 - Case study: staging to sell quickly and above asking 12:55 - The absence of desperation among sellers 14:55 - The characteristics and behaviors of successful agents 19:50 - Using data with confidence Stefani's page at R New York: https://www.wernewyork.com/Agent/27441/Stefani-Berkin Connect with Stefani on LinkedIn: https://www.linkedin.com/in/stefberkin/ ** Need a price cut? Want to wow a seller? Use UrbanDigs Advisor! ** Our customized pricing service closes deals faster and makes you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need! https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

Today, Noah and John from UrbanDigs dive into the intricacies of the mortgage market with superstar lender Melissa Cohn, Regional Vice President at William Raveis Mortgage. Melissa is an industry legend, and she shares her expert insights on the current state of mortgage rates following recent Federal Reserve actions, the nuances of fixed versus adjustable rates, and the impact of mortgage banking on consumers. Whether you're a home buyer, a real estate professional, or just a finance enthusiast, Melissa's perspectives on navigating the mortgage landscape in today’s economic environment are spot on! Highlights: 00:35 - Implications of the Fed's rate pause on the mortgage market 04:50 - Mortgage industry commissions post-NAR 07:50 - Warrantable vs non-warrantable in mortgage financing. 12:20 - Challenges in the mortgage lending process today 14:10 - Non-QM (Non-Qualified Mortgage) lenders 14:40 - The challenge of crypto 16:10 - Mortgage assumptions 17:35 - Melissa'a daily data routine Melissa's page at Raveis: http://www.raveis.com/mortgage/MelissaCohn/ Connect with Melissa on LinkedIn: https://www.linkedin.com/in/melissacohn/ ** Need a price cut? Want to wow a seller? Use UrbanDigs Advisor! ** Our customized pricing service closes deals faster and makes you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need! https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

In this episode of Talking Manhattan, Noah and John welcome Anna Kahn from Brown Harris Stevens. With over 28 years in the industry, Anna shares her invaluable insights on the current state of the market, including thoughts on the surprising effects of interest rates and the art of closing deals in a competitive environment. She also provides practical advice for preparing listings and emphasizes the primary importance of listening in client consultations. Anna's got what it takes to thrive in NYC's real estate scene, so listen in! Highlights: 02:00 - Current market activity and aligning expectations 04:45 - Qualifying buyers and being discerning with offers 07:15 - Advice on pricing strategies 09:53 - Costs and benefits of physical vs virtual staging 14:00 - Shifting from a 'listing pitch' to a 'listening consultation' 17:36- Strategies for new agents 21:04 - Renovated vs unrenovated Anna's page at BHS: https://www.bhsusa.com/real-estate-agent/anna-kahn Connect with Lisa on LinkedIn: https://www.linkedin.com/in/annamkahn/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

In this episode of Talking Manhattan, Noah Rosenblatt goes one-on-one with Lisa Chajet, a top producer from Coldwell Banker Warburg. They dive into the current state of the Manhattan real estate market, focusing on key insights for buyers, sellers, and agents. Lisa shares her expert perspective on the impact of pricing strategies, the importance of staging properties for sale, and navigating the complexities of the market amidst fluctuating interest rates and buyer preferences. With over 20 years of experience, Lisa's advice spans the art of making a property appealing, understanding market dynamics, and the critical role of agent collaboration in achieving success. Some good takeaways for anyone involved in NYC real estate! Highlights: 01:49 - Staging and pricing dynamics 07:00 - Preparing for sale with a look at ROI 08:47 - Challenges of selling units that need renovations 10:44 - Why content should focus on the property, not the agent 13:55 - Impacts from NAR decisions 17:20 - The importance of building relationships 20:34 - Manhattan's complexities require a collective effort Lisa's page at Warburg: https://cbwarburg.com/agent/lisa-chajet/ Connect with Lisa on LinkedIn: https://www.linkedin.com/in/lisa-chajet-505a9b186/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

In this episode of Talking Manhattan, Noah and John welcome James McGrath, co-founder and broker at Yoreevo, to discuss recent trends in the Manhattan, Brooklyn, and New York City real estate markets. James talks about an unexpected surge in market activity during February, attributing it partly to a slight decrease in mortgage rates which reinvigorated buyer interest. The conversation also touches on the affordability challenges, particularly with co-ops, leading to a noticeable shift of buyers towards condos. James also shares his insights on building successful client relationships in real estate, emphasizing the importance of trust, value, and the strategic use of data to guide clients through their purchasing decisions. He advocates for honesty and the necessity of admitting when further information is needed, underlining these as key factors in establishing credibility and long-term client loyalty. Another good one! Resources mentioned: Property Taxes - https://a836-pts-access.nyc.gov/care/search/commonsearch.aspx?mode=address Flood Zone - https://dcp.maps.arcgis.com/apps/webappviewer/index.html?id=1c37d271fba14163bbb520517153d6d5 Noise Map - https://maps.dot.gov/BTS/NationalTransportationNoiseMap/ Highlights: 00:42 - Uptick in activity 02:11 - Impact of interest rates 04:00 - Coop vs condo: affordability 11:45 - Strategies for turning leads into clients 14:26 - Building credibility with data 17:15 - Significance of admitting when additional research is needed James' page at Yoreevo: https://yoreevo.com/agent/james-mcgrath Connect with James on LinkedIn: https://www.linkedin.com/in/james-mcgrath-52b93913/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

Today, Noah and John sit down with Ari Harkov, seasoned NYC expert and co-founder of the powerhouse Harkov Lewis team at Brown Harris Stevens. Ari shares his observations on Manhattan and Brooklyn and provides an in-depth analysis of current market dynamics. He discusses the complexities and variabilities of the market, touching on topics like the impact of interest rates, seasonality in buying and selling patterns, and the nuanced behavior of different submarkets. Ari's insights shed light on the challenges and opportunities within the real estate landscape, offering a comprehensive view that combines data-driven analysis with on-the-ground experience. Ari is an expert's expert, so highly recommended! Highlights: 04:04 - Market Dynamics and Seasonality 05:30 - Impact of Cash Buyers 09:10 - Election Year Uncertainties 11:40 - Reflection on a 'Lost Decade' 15:30 - Basic math for Nervous Buyers 21:10 - Future of NYC Real Estate 27:10 - The Human Element in Real Estate Harkov Lewis Team Page: https://harkovlewis.com/ Ari's Page at BHS: https://www.bhsusa.com/real-estate-agent/ari-harkov Connect with Ari on LinkedIn: https://www.linkedin.com/in/ari-harkov-54a7216/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

Today on Talking Manhattan, Noah and John sit down with Trove founder and Compass powerhouse Ian Slater. Ian is another member of the $1B+ club, and his wealth of experience is on display here. He discusses the Manhattan real estate markets as they transition into 2024 and, hopefully, a nascent recovery. Ian shares his unique perspective, having experienced his best year in 2023 against a backdrop of varied market conditions. He addresses the challenge of low inventory, the impact of interest rates, and the shift toward luxury and off-market properties. Additionally, Ian emphasizes the importance of data analysis, trustworthiness, and providing valuable advice to buyers and sellers to navigate the market's complexities. Good stuff, as always! Highlights: 01:50 - 2023 Market performance and its impact on business 03:25 - Challenges with low inventory and hesitant sellers 06:00 - Trends in new dev for 2024 07:50 - Renovation challenges and market dynamics affecting decisions 10:10 - The psychology behind buyers' preference for off-market properties 15:00 - The role of data in advising and gaining trust from clients 20:25 - Importance of knowledge and relationships in real estate Trove's Page: https://www.trove-partners.com/ Ian's Page at Compass: https://www.compass.com/agents/ian-slater/ Connect with Ian on LinkedIn: https://www.linkedin.com/in/ian-slater-53688124/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

Got a good one today on Talking Manhattan! Noah and John sit down with Nicole Gary, Founder of the Nicole Gary Team at Keller Williams NYC, to discuss the market at the start of 2024. Nicole is no stranger to the NYC markets. She's one of the hardest-working brokers out there, and with operations in Miami, she can speak to what's happening outside our bubble. Nicole talks about the recent increase in market activity, especially in luxury properties, with a notable contract in Manhattan Central Park Tower hopefully leading the way toward a rebound, and shares insights on maintaining client relationships, differentiating her team, and the significance of broker-to-broker relationships. Spoiler alert: gotta be authentic, persistent, and focused on relationship building. Good stuff from one of the greats! Highlights: 00:53 - Market overview and performance in early 2024 02:04 - Impact of interest rates and buyer behavior in 2023 04:15 - Trends in the luxury real estate market 06:43 -Strategies for standing out in a complex market 09:15 - Addressing challenges with sellers in price negotiation 11:00 - Seller's mindset and market acceptance 12:57 - Importance of broker-to-broker relationships 16:06 - Building a luxury brand through high-end customer service. Nicole's Team Page: https://www.nicolegaryteam.com/ Nicole's Page at KWNYC: https://kwnyc.com/associate/nicole-gary/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

Got a good one today on Talking Manhattan! Noah and John sit down with special guest Ryan Tomasello, Managing Director at KBW, to delve into the transformative changes coming to the real estate industry with a particular focus on new commission structures and the implications of lawsuits against NAR and other major brokerages. We discuss the impact on agents and consumers with potentially more transparent and lower commission rates and the evolution of market structures with increased competition and more diverse pricing models. As a Wall Streeter, Ryan provides a unique, outside perspective on broader economic effects, and in this episode, he underscores the need for real estate professionals to be ready to adapt to changes while effectively communicating value. This is a good one to help you stay ahead and remain competitive in our rapidly evolving industry! Highlights: 02:06 - A high-level overview of what's happening 04:00 - Part of a much bigger storyline 07:50 - "There's a reset coming" 10:36 - Possible new revenue models 13:55 - The 80/20 rule 16:35 - Knock on effects 20:00 - Timeline 23:14 - Winners and losers 25:11 - Final thoughts Ryan's page at KBW: https://www.kbw.com/about-us/our-team/research/ryan-tomasello/ Ryan's page on LinkedIn: https://www.linkedin.com/in/ryantomasello/ ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/

Today on Talking Manhattan, Noah and John sit down with special guest Raphael De Niro, founder of the uber-productive De Niro Team at Douglas Elliman. With decades of experience, not to mention billions of dollars of sales to his credit, Raphael dives into the dynamic world of Manhattan real estate, discussing trends, market shifts, and even the future of housing in New York City. From the impact of renovations on property values to the intriguing trends in the luxury market, this episode has some great insider insights. Whether you're a newbie, a pro, an enthusiast, or simply curious about the Manhattan market, this episode is one to watch. Highlights: 03:23 - The growing gap between renovated and unrenovated properties 07:18 - Pied-a-terre is doing better than the primary user market in the high-end 08:02 - Discounts are all over the place 11:46 - Can lower rates get the traffic moving again? 15:13 - The bull case for Manhattan 16:19 - Lightning round thoughts on pent-up demand and what 2024 might hold 22:13 - No better time than a slowdown to up your game The De Niro Team: https://deniroteam.com/ Raphael's page at Douglas Elliman: https://www.elliman.com/newyorkcity/associate/527-a-556-rad/raphael-de-niro ** Want to impress a buyer or seller? Use UrbanDigs Advisor! ** Need data to anchor a listing pitch or support a price reduction? Our customized deep dives close deals faster and make you look like a hero. Plus, subscribers get a big discount so the ROI is literally OFF. THE. CHART. Email [email protected] and let us know what you need. https://www.urbandigs.com/advisor/ Got questions? We got answers! Visit our forum: https://www.urbandigs.com/forum/index.php?forums/main-forum.2/ Track the New York City real estate market with real-time data and charts: https://www.urbandigs.com/ Link to our overview of Manhattan or Brooklyn real estate stats: https://www.urbandigs.com/marketwide-charts/ For more Manhattan and Brooklyn real estate conversations: http://www.talkingmanhattan.com/