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March 2014
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May 2014

April 2014

New York agent uses Chinese social app to snag $13 million deal

According to the Wall Street Journal’s China Real Time Report, New York-based agent, Yue (Emma) Hao, with Douglas Elliman, received an unsolicited message on WeChat, China’s popular social media and messaging app, from a Chinese entrepreneur who had questions about the Baccarat Residences condo tower under construction across from New York’s Museum of Modern Art in Manhattan.

After gathering information from the building’s sales center and forwarding it to her prospect, Hao followed up by phone the next day and then negotiated two sales -- a $10.25 million three-bedroom apartment on the 39th floor and a one-bedroom unit on the 21st floor for about $3 million.

LogoHao used a confidential WeChat group among the buyer, the attorneys, and herself to facilitate the purchasing process. Active on WeChat for two years, Hao estimates she’s closed seven transactions using WeChat.


Are Your Listing Photos Swipeable?

If you don't have professional quality photos that tell the lifestyle story of every home you are marketing, you are doing yourself and your sellers a disservice.  End of story.

Have you looked at the key role that GOOD photographs play in connecting with buyers on Realtor.com/Move's new Doorsteps Swipe app?  You should.  Especially if you are looking to connect with Gen X, Gen Y, or Millennial buyers. 

Doorsteps Swipe is a good example of the changing ways in which buyers and sellers are being exposed to and interacting with your marketing information. 

Doorsteps


What’s up in Manhattan? Number of sales and prices!

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According to the just released EllimanReport: Quarterly Survey of Co-op and Condo Sales, the Manhattan market is going strong.

Highlights:

Most first quarter sales in seven years as listing inventory stabilized.
There were 3,307 sales, 34.6% above the same period last year, marking the highest first quarter total in years. Listing inventory was essentially unchanged at 4,968 after three years of declines.

Average price per square foot set a 25-year record.
The average price per square foot of a Manhattan apartment reached a record $1,363, 23.6% above the prior year level. Median sales price increased 18.5% to $972,428 from the prior year level, but remained 5.1% below the record set in the second quarter of 2008.

Days on market and listing discount tightened. 
The time to market a property was 17 days faster than the same period last year, falling to 115 days.  Listing discount decreased 2.6% from 4.3% in the same period last year.

For more information on the city’s real estate market, check out the EllimanReport and a recent article in The New York Times.