April Newsletter

YES, this is an April fools joke and NO, prices aren't crashing. But it is amazing how much misinformation is out there. The fact that the some folks at the New York Times are suggesting that the difference between a 4%, 5% and a 6% commission rate is somehow is going to make buying a house "significantly" more affordable is very interesting to me.... Did we completely forget about supply and demand?

On a serious note, everyone has seen or heard about the huge NAR (national association of realtors) settlement. While brokers in NYC  are not actually part of NAR and do not have an MLS, I would like to take this opportunity to present you with some key facts-from the field-and separate the myths from reality.

So here it is:

1. MYTH - Many huge changes are coming to how real estate is bought and sold.  
REALITY - Buyers have always had an option to purchase a home on their own and navigate the intricacies of the market and co-op boards. But the majority of buyers choose to work with a broker, understanding the value of having a trusted advisor who represents their interest when making one of the most significant financial decisions of their lifetime. 

2. MYTH - We can now FINALLY negotiate the 6% commission.
REALITY - as long as I have been in this business, sellers in NYC have always had an option to go with "low cost" or "discount" brokers to represent them in the sale of their home. 

3. MYTH - Sellers now are prohibited from offering buyer agent's commission.
REALITY - offering how much to pay a buyers agent has always been up to the seller. Thankfully, most of our clients are intelligent enough to know that incentivizing buyer's brokers and their clients is simply smart business, and prefer to focus on results, not ideologies. 

Lastly, I have to admit, I do believe that the changes that this will bring are good for the consumer - it will weed out the "bad actors" in our profession and the agents who simply think that all it takes is posting a few videos of fancy apartments on TikTok and suddenly you are sipping champagne while on your private jet to meet a "buyer' in Miami.

It will leave the agents who truly provide value to their clients and strive for outstanding customer service and will force buyers and sellers to be more selective when choosing the right agent to represent them. 

Happy Spring!
Yours 

Daniel 
 

77 Greenwich Street
Full-Service Condo | Financial District 
Where: 77 Greenwich St, New York, NY 10006
 

I am happy to announce, The Daniel Kramp Team along with Calvin Xu and Reuveni Real Estate are taking over sales at 77 Greenwich.

77 Greenwich is a LEED-certified condominium featuring direct water views from every unit. Designed by Deborah Berke, details include stunning wide plank white oak floors, expansive floor-to-ceiling wraparound glass windows, 11-foot ceilings, custom-crafted millwork, radiant heated marble floors, and Poliform kitchens with fully-integrated appliances from Wolf, Sub-Zero, and Miele. 77 Greenwich offers one- to four-bedroom residences.

Happening Around the Boroughs

From blooming cherry blossoms in Central Park to vibrant outdoor festivals and cultural events, April offers a captivating glimpse into the diverse tapestry of life in the Big Apple. Whether you're a visitor exploring the city for the first time or a seasoned New Yorker looking for new adventures, April promises an unforgettable journey filled with endless possibilities.

4/20
Earth Day
Cherry Blossoms
Whitney Biennial 
The Solar Eclipse
Macy's Flower Show
Botanical Garden's Orchid Show 
Much More...