All Forum Posts by: Brandon Cohen

I think I'd probably walk away as well...maybe this person will have a successful rehab and recall you were gracious and will want to bring you back to sell the next one.  

@Melvin Galloway $2.4m seems advantageous for Bed Stuy 2 fam.  In this current sales market in NYC I say your safest strategy would be to sell as is and let the buyer take the risk.   

@Aneury Evangelista ah that's a shame, though I've learned the town can be backwards.  No need for a handyman at the moment but thank you! 

@Aneury Evangelista did you ever find anyone?  I'm looking for someone in Oneonta as well.  I hear the reliable ones are hard to come by 

@Jinyu Shao @Jason Lee said it all very well.

my best advice for picking an agent is to make sure that you trust them, you should feel confident that they are properly representing you and trying to get you the highest price.  Also, if you’re hiring on a team, make sure you’ve met the person who will be responsible for showings/open houses/etc.  Often times you'll hire a team lead and then they disappear.

Posted this another thread so I figured I'd put it here to, which I see echoes everyone's sentiments :)

@Jinyu Shao granted I'm an agent, but I truly think this is a bad idea. If you're out of the country, you're going to need to pay another agent to show the apartment for you, handle the listing, marketing, open houses, etc. You're spending time and money to not only get your license, list, advertise, but then you have to find a broker who will hold your license only for you to sell your apartment, and that broker will require a commission as well. Like my clients and others who use agents as well, you'll find that a good agent is worth every penny. With all that said, you could still sell as for sale by owner but will still need the above.

1) Can I represent myself to sell my co-op in NYC? (I know it's possible in some states, not sure if it's the same in NYC) - Yes you can. You just have to disclose that you are the owner.

2) Can I do so while residing and working in a different country? (I can fly back for closing or other events that requires my presence) - Yes, though you don't even have to be at closing...you can grant power of attorney or pre-sign documents.

3) If both of the above are okay, when do I need to be physically present? - showing, open houses, broker tours, etc. or pay someone to do it for you.

4) Once I take the class online and pass the exam, what's next before I can represent myself to sell my property? - find a broker who will hold your license for you, though they're going to require fees from you and part of the commission.

@Jinyu Shao granted I'm an agent, but I truly think this is a bad idea.  If you're out of the country, you're going to need to pay another agent to show the apartment for you, handle the listing, marketing, open houses, etc.  You're spending time and money to not only get your license, list, advertise, but then you have to find a broker who will hold your license only for you to sell your apartment, and that broker will require a commission as well.  Like my clients and others who use agents as well, you'll find that a good agent is worth every penny.  With all that said, you could still sell as for sale by owner but will still need the above.

1) Can I represent myself to sell my co-op in NYC? (I know it's possible in some states, not sure if it's the same in NYC) - Yes you can.  You just have to disclose that you are the owner.

2) Can I do so while residing and working in a different country? (I can fly back for closing or other events that requires my presence) - Yes, though you don't even have to be at closing...you can grant power of attorney or pre-sign documents.

3) If both of the above are okay, when do I need to be physically present? - showing, open houses, broker tours, etc. or pay someone to do it for you.

4) Once I take the class online and pass the exam, what's next before I can represent myself to sell my property? - find a broker who will hold your license for you, though they're going to require fees from you and part of the commission.

@Aymeric De Conde I think it depends what type of apartment you're planning to buy and where.  Like some on this thread mentioned, a co-op can have a strict sublet policy.  Mine does, however in my building there were some amazing comparable sales that I was able to re-fi my loan and pull out cash.  All depends on the deal you're getting/when/where.  

@Kenneth Hartog I have someone though feel free to PM

@Ashfaq Sheikh I believe it's possible to cash flow in the Bronx and other outer boroughs however I've never done any deals there. The NYC investors I've worked with (in Manhattan and BK) are mainly appreciation plays. I sold a 5 unit house in Manhattan last year that was operations at a 3% CAP but I sold it for $2m+ than what the owner bought it for not so many years prior. Really all depends on your strategy.