We missed news of this when it was first announced, but last month Brooklyn-based Fillmore Real Estate bought 1,400 New York City-area listings from bankrupt discount brokerage Foxtons. Fillmore said the $110,000 buyout would increase the brokerage’s listings by almost 50 percent and help it expand beyond Brooklyn. But we’ve been getting reports that the deal may not be great news for some sellers. Apparently, Fillmore hasn’t been completely cooperative about letting some people out of the contracts they had with Foxtons. We got in touch with Fillmore president John Reinhardt, who told us that only about a dozen ex-Foxtons sellers have tried to get out of their contracts with Fillmore, in most cases because they’re dealing with another broker who wants to get a full commission for the property. And Reinhardt says that most of the sellers who had been using Foxtons have been “thrilled” with Fillmore’s services. “We’ve hired a number of new agents and publicized the homes better than Foxtons,” says Reinhardt. “We’ve been selling those homes left and right.” Anyone who’s personally experienced the Foxtons-Fillmore changeup care to differ?
Fillmore Rises, As Foxtons Sinks [NY Sun]