A NEW GUIDE TO SELLING A HOME IN NEW YORK WITH ALLISON DEUTSCH
THE ADVANTAGES OF LISTING WITH ALLISON DEUTSCH HER PASSION FOR NEW YORK CITY Dennis’s love for NYC Real Estate is cultivated by his 20+ years of experience as a real estate investor. He is passionate about his work, inspired by his clients and treats every deal as if it was for his own portfolio. Dennis brings trust, ethics and diligence to all aspects of real estate transactions. WE’VE GOT THE CITY COVERED Our offices are an essential part of the BOND experience and each office is part of the fabric of its neighborhood. In addition to our beautiful retail location window displays marketing our properties, we regularly hold events to promote our community and the culture within it. EXPERIENCED INDUSTRY LEADERS BOND New York was founded in 2000 and has since grown to become the largest independently owned real estate brokerage in the city with over 500 agents and 4 offices strategically located throughout the city. BOND is ranked among the top real estate firms in the city. CUTTING EDGE TECHNOLOGY BOND has a dynamic web presence with over one million hits a month, 60,000 unique users running searches in our database and up to 12 chat leads per hour at peak. We have a state-of-the-art portable database connected to top web platforms including Facebook, Twitter, Craigslist, NY Times, Trulia, Zillow and StreetEasy. We also have an automatic listing update feed sent to our customers.
ELITE IN-HOUSE MARKETING TEAM Our in-house creative team has over 19 years of experience in every media form. We have in-house copywriters and graphic designers as well as in-house public relations and social media teams. BOND has one of the highest Klout Scores in the industry for social media and has one of the top real estate blogs in NYC. GLOBAL REACH BOND New York is part of a select group of brokers in Manhattan servicing the largest global relocation network in the industry with access to hundreds of top qualified buyers from all over the world. PERSONAL TOUCH BOND was built on the lifelong friendship of its founders. The trust, support, and camaraderie they have relied on to sustain that relationship over the years is the backbone of BOND. It permeates every relationship at our firm from management to agent, from agent to client.
HOW PRICE IS DETERMINED Our brokers look at various aspects to determine the market value of your property. We take into account things such as: LOCATION Location plays a large role in determining price. Factors such as proximity to public transportation, development and desirability of a neighborhood and conveniences are taken into account when considering price. COMPETITION Buyers will compare and interpret the value of your home based on other available properties. I will provide you with accurate comparables of properties that have both recently been sold and are currently listed to help you understand the competition. I will also provide a detailed analysis of these properties to examine how long they have been on the market, if they have undergone a price drop and any other factors that will be necessary in determining the best list price for you. TIMING Market conditions change and cannot be manipulated. I will provide a pricing strategy based on when your property is listed. BOND’s in-house marketing team will create an effective and aggressive marketing plan to ensure we maximize the timing of your property entering the market. CONDITION Property condition directly affects the price and speed of your sale. I will provide guidance and expertise on what steps need to be taken to make the best first impression on potential buyers.
MAXIMIZING REAL ESTATE VALUE Simple cosmetic changes requiring minimal time and expense can be made to increase the value of your property. Since buyers compare competing properties, we suggest a few practical tips to make yours stand out. Eliminate clutter Your property will feel larger and brighter, while allowing prospective buyers to explore it comfortably, envisioning it with their own personal touches. R epair If you think something is too much trouble to fix, chances are buyers will, too. Making repairs allows you to present your property in a better light and increase its value. C lean Presenting a clean home to a buyer shows them the home has been valued and cared for. Presentation Place fresh flowers in the apartment, open all of the drapes/blinds, turn on all of the lights, make the beds, put all clothes away, turn off the televisions, and be sure the kitchen and baths shine. Head Out Potential buyers are much more comfortable and will be more likely to discuss how they feel about a property if the seller is not at home during the showing.
WHAT WE DO BROKER COMMUNITY OUTREACH Over 94% of properties in New York City are sold by co- brokers. As members of REBNY, we share your listing with the other real estate firms and 14,500 licensees that are REBNY (Real Estate Board of New York) members. We also broadcast your listing to every other major real estate listing site to guarantee your property is reaching every qualified buyer being represented by an agent at any firm. This effectively puts your property in front of millions of potential buyers. TARGETED SOCIAL MEDIA We have committed significant time and resources to build strategies and targeted engagement with thousands of followers in order to effectively reach viable buyers. We produce original, shareable content that has successfully supported our position as leaders in the industry and increased our clients’ exposure. PROFESSIONAL VIDEO / PHOTOGRAPHY Our in-house team of professional videographers and photographers guarantee timely photos and video created, edited, and posted on demand for your property. OPEN HOUSES BOND will organize, promote and execute open houses for your property. All open houses are staffed with BOND professionals. Showsheets as well as other relevant marketing materials are prepared for distribution.
CUSTOM MARKETING MATERIALS Each listing is evaluated and materials, from postcard mailings to brochures showcasing your home, are created by our in- house team to best market your home. STOREFRONT PROPERTY LISTINGS Your property is featured in our beautiful light box window displays located in our retail offices for maximum exposure to local foot traffic. PUBLIC RELATIONS In the last year, we had nearly twice the amount of press mentions as our biggest competitors. We get our clients’ properties highlighted consistently in top-tier publications. In the last year we have been featured in The New York Times, New York Magazine, New York Observer, New York Post, The Real Deal, Wall Street Journal, and REW/Brokers Weekly, just to name a few. CURRENT ACTIVE CUSTOMER BASE There are hundreds of BOND agents working in sales and one of them may have the perfect buyer for your home. When you list with BOND, your property immediately goes out to the entire BOND marketplace of buyers who have already been pre-screened and pre-approved for financing. STATE OF THE ART WEBSITE EXPOSURE Over 95% of property searches begin online. BONDNEWYORK.COM is one of the industry’s most highly trafficked websites, with over 35,000 unique visitors per month. We also syndicate your property to every major real estate listing website available.
MARKETING PLAN SCHEDULE PHOTOGRAPHER AND VIRTUAL TOUR BOND will schedule a Professional photographer and videographer for pictures and video to be used in marketing materials (at no cost to you). VIRTUAL STAGING We will create a virtually staged environment to increase visual accessibility of the home. LIST PROPERTY WITH RLS (REBNY LISTING SERIES) Your listing will be available immediately to every broker in the community to share with their pool of buyers. LIST PROPERTY ON BOND NEW YORK Your property will be available to all BOND agents to share with their pool of buyers as well as potential buyers visiting our site every day. PLACEMENT IN OUR WINDOW DISPLAY LIGHT BOXES Your property will be featured in the window of our retail locations. EMAIL BLAST TO ALL BOND AGENTS Your property will be announced via personal email to over 500 agents at BOND. CREATION & EDITORIAL PITCH FOR PUBLIC RELATIONS Our in-house marketing team will create an editorial feature to be pitched to a target publicist.
JUST LISTED MAILING A custom postcard will be mailed to current residents in your building and in the area showcasing your property. BROKER BLAST A professional email blast featuring your property will be sent to over 13,000 brokers in our brokerage community. PRIVATE EMAIL PRE-OFFER TO BROKER CONTACT LIST We will send the listing to a private list of brokers with whom we have a long-standing relationship. FEATURE ON BOND SOCIAL MEDIA Your property will be featured on all of our social media sites to get your property showcased to target audiences. HOLD OPEN HOUSES In addition to private showings, an open house will be held for both brokers and prospective buyers. We will manage all aspects of the open house from preparation to follow up. CUSTOM SHOWSHEETS & SHOWBOOKS Our in-house marketing team will create custom show sheets showcasing your property’s features to be distributed at the open house. FEATURE IN OUR PROPERTIES SHOWCASE PUBLICATION Your property will be featured in BOND’s Properties Showcase publication which is distributed to all of our sales customers.
MARKETING OUTREACH RLS
ESTIMATED CLOSING COSTS FOR SELLERS COOPERATIVES Co-operatives (Co-op) 6% of sale price $2,500 and up Broker’s commision $400 - $600 Seller’s attorney Varies Co-op attorney $0.05 per share Flip tax $500 - $1,000 (refundable) Stock transfer tax 1% of price for purchases of Move-out deposit $500,000 or less New York City transfer tax 1.425% of price for purchases New York State transfer tax over $500,000 (paid by Sell- er, except sale by Sponsor) Transfer tax filing fee 0.4% of price for purchases Payoff Bank attorney less than $3 million UCC-3 filing fee 0.65% of price for purchases greater than $3 million $25 $300 and up $100 and up
ESTIMATED CLOSING COSTS FOR SELLERS CONDOMINIUMS Condominiums Broker’s commision 6% of sale price Seller’s attorney Managing agent processing fee $2,500 and up Move-out deposit New York City transfer tax $450 - $650 $500 - $1,000 (refundable) 1% of price for purchases of $500,000 or less New York State transfer tax 1.425% of price for purchases over $500,000 (paid by Sell- er, except sale by Sponsor) 0.4% of price for purchases less than $3 million Title and recording fee 0.65% of price for purchases Mortgage satisfaction fee greater than $3 million Payoff Bank attorney $100 $300 and up
ESTIMATED CLOSING COSTS FOR SELLERS FOR TOWNHOUSES & SINGLE FAMILY HOMES For the Seller Broker’s Commision: Usually 6% of sale price Seller’s Attorney: Consult your attorney NYC Transfer Tax: Residential is as follows: Up to $500,000 = 1% Admin. Fee: $500,000+ = 1.425% Commercial: NY State Transfer Tax: Up to $500,000 = 1.425% NYS Equalization Fee: $500,000+ = 2.625% Miscellaneous Title Fees: Non-Deed Transfers = $50 Pick-up / Payoff Fee to Title Closer: Residential Deed Transfers= $75 Commercial Deed Transfers = $165 Up to $3 Million = 0.4% Greater than 3 Million = 0.65% $75 $200 - $500 $ 250 - $300
ESTIMATED CLOSING COSTS FOR BUYERS Co-operatives Estimated Costs Condominiums Estimated Costs (Co-op) (Condos) Buyer’s Attorney $2,500+ Buyer’s Attorney $2,500+ Building Application Fee $500+ Origination Fees/Points 0% to 3% of loan value Credit Report $50 to $100+ Application, Credit, Appraisal, $1,600+ (on Each Applicant) Bank Attorney, etc. Mansion Tax 0% of price when price is Real Estate Tax Escrow 2 to 6 months less than $1million Recording Fees $200+ NYS Mortgage Recording Tax 1.8% of mortgage on loans 1% of price when price is under $500,000 and 1.925% $1million - $1,999,999 Title Insurance if over $500,000 Amounts vary, consult your 1.25% of price when price is Municipal Search attorney $2 million to $2,999,999 Building Application Fee $350+ Common Charge Adjustment $350+ 1.50% of price when price is Real Estate Tax Adjustment Up to one month $3 million to $4,999,999 Title Closer Fee 1 to 5 months Mansion Tax $150+ 2.25% of price when price is 0% of price when price is $5 million to $9,999,999 less than $1million Move-In Deposit 3.25% of price when price is 1% of price when price is $10 Million to $14,999,999 $1million - $1,999,999 Maintenance Adjustment $500 to $1,000 Origination Fees/Points (typically refundable if there 1.25% of price when price is Application, Credit, Appraisal, are no damages to hallways, $2 million to $2,999,999 Bank Attorney, etc. elevators, etc.) UCC-1 Filing Up to one month 1.50% of price when price is Recognition Agreement Fee 0% to 3% of loan value $3 million to $4,999,999 Lien Search $1,600+ 2.25% of price when price is $100+ $5 million to $9,999,999 $250+ $350+ Move-In Deposit 3.25% of price when price is $10 Million to $14,999,999 $500 to $1,000 (typically refundable if there are no damages to hallways, elevators, etc.) If Purchase from Sponsor (New construction/conversions) NYC Real Property Transfer Tax 1% of purchase price up to $500,000 and 1.425% over NYS Transfer Tax $500,000 Sponsor’s Attorney Fee .65% -If greater than 3 Million .4% - If under 3 Million $1,450 - $2,500
ESTIMATED CLOSING COSTS FOR BUYERS FOR TOWNHOUSES & SINGLE FAMILY HOMES For Buyers: Mortgage Closing Costs Buyer’s Attorney: Consult your attorney Bank Fees: $750 Application Fee: $350 Appraisal Fee: $330 Processing Fee: $300 - $1,500 (depending on sales price) Credit Report Fee: $10.10 single/$15.20 joint Bank Attorney: $650 - $750 Tax Escrows: 2 to 6 months Recording Fees: $250 - $750 Fee Title Insurance: Amounts vary, consult your attorney Mortgage Title Insurance: Amounts vary, consult your attorney Municipal Search: $350 - $500 Mortgage Tax - NYC 1-3 Family Home or Condo: (paid by borrower) If mortgage is less than $500,000: 1.80%. If mortgage is $500,00 or more: 1.925% of loan amount ESTIMATED CLOSING COSTS FOR TOWNHOUSES & SINGLE FAMILY HOMES New York State Mansion Tax for Residential Properties (Paid by Grantee) Purchase Price: Mansion Tax: Less than $999,999 0.00% $1,000,000 – $1,999,999 1.00% $2,000,000 – $2,999,999 1.25% $3,000,000 – $4,999,999 1.50% $5,000,000 – $9,999,999 2.25% $10,000,000 – $14,999,999 3.25%
A New York City native, Dennis has an innate understanding of his vibrant city – from the beaches of Brooklyn to all of Manhattan. Dennis’s unique background of real estate, facilities management, fine art and advertising, contribute to his extensive industry knowledge. As the proud father of three children, now adults, Dennis understands not only the unique demands of home ownership but also the challenges families encounter in an urban environment. He personally works with each client to formulate a real estate acton plan, incorporating financing, neighborhood, building preferences and quality of life queries. An avid and successful real estate investor of 20 + years, Dennis draws from his personal business experience and life lessons to connect buyers & sellers in creative and rescourceful ways. He brings his particular brand of diplomacy to all aspects of the real estate transactions and leverages his talent for both investment properties & residential sales and rentals to get the deal completed. Dennis studied at The New School and received his certification in Facilities Management from The Steven L. Newman Real Estate Institute. Prior to pursuing his passion for Real Estate, Dennis was a renowned photographer. His Chelsea studio, Dennis Galante Photography Inc., produced multiple award winning images for international advertising campaigns. Dennis is passionate about all things New York and volunteers with a variety of charitable organizations. ALLSION DEUTSCH LICENSED REAL ESTATE SALESPERSON BOND NEW YORK PROPERTIES, LLC 810 SEVENTH AVENUE, 39TH FLOOR NEW YORK, NY 10019 OFFICE: 646-535-4289 FAX: 646-328-4393 Connect with me on Social Media! E-MAIL: [email protected]
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A NEW GUIDE TO SELLING A HOME IN NEW YORK WITH ALLISON DEUTSCH