Page 1

sellers guide

1776 Broadway

25 Hudson

250 Mercer

1500 Second Avenue

64 West 21st Street

NY, NY 10019

NY, NY 10013

NY, NY 10012

NY, NY 10021

NY, NY 10010

212.582.2009

212.792.9240

212.672.6350

212.584.4220

212.645.8800


Selling your new york real estate New York is one of the largest and most dynamic real estate markets in the world. With all the idiosyncrasies and rapidly fluctuating markets, selling real estate in New York can be challenging, to say the least. BOND will provide you with the expertise to interpret and adapt to these changes as quickly as they occur. At BOND Real Estate, our agents function as facilitators. They assist with everything from showing the property to qualifying buyers, negotiating the transaction, and coordinating just about anything you can imagine. We work with lenders, appraisers, attorneys, other brokers, and designers and even help buyers prepare co-op board packages and coach them for co-op board interviews. We make the sale of your property as effortless for you as possible, and that’s why BOND is the largest independently owned real estate firm in New York.

WWW.BONDNEWYORK.COM


the BOND experience At BOND, we don’t just do things the right way; we do things the best way. We carefully selected our well-trained brokers, because they love what they do, and they commit themselves to understanding the many incredible nuances that characterize each borough in the New York market. We use a plethora of techniques and our vast resources to save you time, money, and energy, by effectively marketing and negotiating the best price possible for your property. BOND recognizes that most reputable brokerage firms present sellers with the same suite of basic services, and that’s why we go out of our way to partner with our clients. Investing time to understand your needs allows us to implement a highly thoughtout, customized marketing plan tailored to you and your property. From our initial meeting till the closing of your sale, we will provide you with feedback and keep you updated on not only what we are doing but also why. BOND will sell your property for the best possible price while making you comfortable every step of the way.


maximum exposure maximum price Effective marketing is vital to selling your home for the highest price possible, and at BOND, that is what we do best. In addition to our marketing plan, we broadcast your listing to the brokerage community itself, which is in fact far and away the most effective form of marketing we can employ, because 80 percent of buyers use a broker for their search. BOND belongs to The Real Estate Board of New York, and as a member of REBNY, we share your listing with every member. After you sign an exclusive contract with BOND, our first action will be to advertise your listing to every licensed real estate broker in New York. By doing this, we leverage the many millions of dollars the brokerage community spends each year on marketing to promote your property. This helps your property get more exposure, receive more bids, and in the end, increase its selling price.

what determines price Our brokers look at various aspects to determine the market value of your property. We take into account things such as: 1) Location: The single greatest factor in determining the price is location 2) Competition: Buyers will compare and interpret value based on other available properties 3) Timing: Market conditions change and cannot be manipulated. An effective marketing plan and pricing strategy must take these conditions into account 4) Condition: Property condition directly affects the price and speed of the sale 5) Marketplace: In the end, it’s the marketplace that will determine the price. At BOND, we use our vast knowledge of, experience in, and data on the New York market to calculate where we think the property will trade, but ultimately, the market dictates the actual price

WWW.BONDNEWYORK.COM


the BOND marketing plan When you choose BOND Real Estate, you are choosing our sophisticated marketing plan that has made us New York’s largest independently owned real estate brokerage firm. Once we agree on an initial offering price for your property by analyzing it and other comparable ones in your area, BOND will market your property in various ways, including strategic placement on websites, developing presentation materials, running advertisements in key publications, and through direct mail campaigns. Below are just a few of our proven marketing techniques. • Sunday New York Times Open House advertisements • Weekly postings on nytimes.com and many other websites as part of our comprehensive web placement strategy • Photographs and a description on the BOND New York website, one of the most trafficked real estate websites in New York • Advertisements in publications suitable for your particular property, including New York Magazine, New York Living Magazine, The Real Estate Book, and The Wall Street Journal, just to name a few • Listings distributed to the entire brokerage community via weekly “email blasts” • Catered Brokers’ Open House • Promotional mailing campaigns to all residents in your building • Weekly activity reports with feedback to keep you updated

closing costs Condominiums

co-ops

Broker’s commission

6% of sale price

Broker’s commission

6% of sale price

Seller’s attorney

$2,500 and up

Seller’s attorney

$2,500 and up

Managing agent processing fee

$450–$650

Co-op attorney/managing agent

$400–$600

Move-out deposit

$500–$1,000 (refundable)

Flip tax

Varies

New York City transfer tax

1% of price for purchases of $500,000 or less 1.425% of price for purchases over $500,000 (paid by Seller, except sale by Sponsor)

Stock transfer tax

$0.05 per share

Move-out deposit

$500–$1,000 (refundable)

New York City transfer tax

1% of price for purchases of $500,000 or less 1.425% of price for purchases over $500,000 (paid by Seller, except sale by Sponsor)

New York State transfer tax

0.4% of price (Paid by Seller, except sale by Sponsor)

Transfer tax filing fee

$25

Payoff Bank attorney

$300 and up

UCC-3 filing fee

$100 and up

New York State transfer tax

0.4% of price (Paid by Seller, except sale by Sponsor)

Title and recording fee

$100 and up

Mortgage satisfaction fee

$150–$300

Payoff Bank attorney

$300 and up


maximizing your real estate value Often, simple cosmetic changes can be made with minimal time and expense to increase the value of your property. Since buyers compare competing properties, we suggest a few practical tips to make yours stand out.

•E  liminate 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

•P  resentation: 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

•L  eave: 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

WWW.BONDNEWYORK.COM


frequently asked questions 1. How do we make sure that a buyer is not only qualified to obtain a mortgage but also that he or she can pass the co-op board?

 Before showing a potential buyer your apartment, we will provide him or her with a financial analysis form to fill out. This will give us a complete picture of his or her assets, liabilities, and income. We will then compare these numbers to the requirements of the co-op board to help “prequalify” the buyer.

2. Once an offer is accepted, how long will it take to get to closing?

It generally takes seven to ten days from accepted offer to contract signing. From there, the average amount of time necessary to get to closing is 60 days for a condo and 90 days for a co-op.

3. How long should it take to sell my property?

Market conditions change constantly. On average, apartments take between 14 and 18 weeks to sell. Your BOND New York sales agent will do everything possible in an effort to get your property sold fast and for an optimum price.

4. Where will you advertise my property other than The New York Times?

The New York Times is still a very important venue in which to advertise real estate. However, there are a number of other viable options, and your BOND New York sales agent is an expert at taking advantage of all of them. Some of these include The New York Times website, On-Line Residential, the New York Post, New York Magazine, New York Living Magazine, the BOND New York website, Craigslist, and VillageVoice.com - to name a few.

5. How many different agents will actually be showing my property?

It is the policy of BOND New York that only the listing agent with whom you have entered into an agreement will show your apartment. That agent will never leave keys for another broker or allow other agents to show your apartment without being present unless you have given prior consent.

6. Will you conduct open houses every Sunday?

We generally like to run an open house every Sunday for the general public. We also recommend periodically conducting a “Brokers’ Open House” specifically aimed at brokers as opposed to buyers. We have found this to be a good way of getting constructive criticism and feedback from other professionals.


Š 2013 BOND New York New York All material presented herein is intended for information purposes only. While information is believed to be correct, it is represented subject to errors, omissions, changes, or withdrawals without notice. All property information, including but not limited to, square footage and number of bedrooms, is approximate. Exact measurements should be verified by your own attorney, architect, engineer, or zoning expert. BOND New York is a broker that supports Equal Housing Opportunity.

WWW.BONDNEWYORK.COM

BOND New York Sellers Guide  
BOND New York Sellers Guide  
Advertisement