I've been busy, here's a cheap re-post!

 Spring is(almost) here and that means I start getting busy which will explain the lack of a post in a very long time! Nothing really new to report other than what I have said a million other times; if you are priced right and have everything else going for you, chances are bids are coming in fast and strong. I have been involved in two very recent battles with one last minute bid hitting the ask, we came to the game a little late and the seller decided to accept a lesser bid and stay with the "bird in hand".  Don't worry, still many delusional sellers out there and some of them are enabled by brokers who insist on on telling them their homes are worth X when they are worth Y....why do you do this? I was almost thrown out of one house last week after suggesting a price, but late 2006ish pricing is not going to work; sorry. wasn't there a show on HGTV about getting real with your price? How about a show that revisits some of the 2005-2007 "House Hunters", you know the repeats we watch now in places like Florida, Arizona, California where with our 20/20 hindsight we know they are going to get hammered! I watched in pain as a couple bought at peak in Florida, I was almost yelling at the TV, "don't do it, just wait 6 months and see what happens!" Oy.

This post below is copied from an online forum where I was asked if rebates are legal. I also went into some detail to clarify a few things. It may be time to roll out some marketing now that we have some new players coming to town. I am pretty busy with the referrals I have been receiving and with a few new deals going into contract things are only going to get busier. I am preparing for another summer of not so much beach/surf time! lol.

                                                             Are Rebates Legal?


Yes it is legal in New York as well as 40 other states and this is addressed on the DOJ website. It is also considered an adjustment to price by the IRS, not taxable and no 1099 or other paperwork has to be filed.
I have been offering rebates for over a year, with our firm the rebated amount is determined based on the level of service the client requires. The rebates run from 33%-67% of our buy side commission and you receive your check at closing(as long as we are paid).
First thing I would like to clear up is that we are not a discount broker and our model is NOT based on Foxtons. We are a full service company that offers the client choices. We don't have a fancy office or any exorbitant marketing costs, we do use current technology to make our business model highly effective. This is what allows us to operate the way we do. I actually don't earn less money, on the contrary I am earning more due increased business. On most deals I earn the equivalent of my counterpart in the transaction due to the way the commission is split among agent and firm. But this model allows me to share the commission with my clients without disturbing the "normal" flow of the commission.
There are other firms that utilize this model and at least one that is in Manhattan. What I can offer is 20 years of experience in Manhattan Real Estate, I have done transactions from $300,000 up to $3.6mm with a variety of clients in business and the entertainment world. It is this experience that my clients come to rely on as well as honest, transparent service. My clients are cc'ed or forwarded all emails that are exchanged with either the listing or buy side agent/broker. You can also terminate our relationship at ANYTIME with no hard feelings or grief.
Last week I wrote a check out for $21,150. I can assure you the client not only thanked me for the rebate but also for being their "voice of reason" and helping them successfully navigate a smooth transaction (that was not always quite as smooth as we all would have liked.)
Sorry this got a little long (:
Keith (Broker)
http://theburkhardtgroup.com/agents_details.php?agent_ID=7619