but remember, these large brokerages in Brooklyn (including the brokers and agents) follow the RENBY rules of ethical conduct - whatever this really means. A good broker knows what is proper ethical and legal conduct with repect to brokering real estate transactions. REBNY is simply a a trade group to give the illusion that such brokers are engaging in the highest standard. In reality, it appears to be an "insurance policy for the "mistakes" made by broker/agents. A broker should be under a higher level of scrutiny by New York State licensing. If security brokers have to take many high level exams to trade; perhaps a real estate broker must also be under the same obligation; and , as we all know, this is still not enoughj protection. Remember, for the most part, a real estate broker is repesenting a buyer/seller in one of the most valuable assets they will ever own.

Posted by: foulplay at November 19, 2009 11:36 AM in response to Corcoran Found Negligent in Park Slope Condo Sale

Walks like a duck, talks like a duck . . . . so on - and one must believe this gamesmanship runs the corporate upstream - - unless all senior management conduct the brokerage business with eyes closed; and unfortunately, this should not come as any surprise to anyone - especially during the boom years. The tides will turn.

Posted by: foulplay at November 17, 2009 12:40 PM in response to Corcoran Found Negligent in Park Slope Condo Sale

"Walks like a duck, talks like a duck . . . so on.

Posted by: foulplay at November 17, 2009 12:32 PM in response to Footage from 357 4th Street Condo Lawsuit

One has to believe that there are more of these incriminating emails coming down the pike. I guess it really comes down to senior management with cocky "cowboy" attitudes. Office managers should really have to justify their salaries and attitudes. At the very least watching for these problems or at least instruct the agents/brokers not to engage in such gamesmanship. Who actually knows who is directing the gamesmanship. There are two sides to the blade and the party who gets burned ultimately has the last laugh and prevails.

Posted by: foulplay at November 17, 2009 9:22 AM in response to Corcoran Found Negligent in Park Slope Condo Sale

You make a good point regarding pressure and results. However, in this market, cookie cutter new developments are about the greatest waste of time, energy and effort and expense imaginable; unless perhaps one is a rental agent/broker.

Posted by: foulplay at November 12, 2009 6:57 PM in response to House of the Day: 75 New York Avenue

Babs. No doubt you are correct about "no paycheck without work" as such pertains to agents and brokers. Nevertheless, office sales directors do receive paychecks from the company. If such sales directors do not work hard to provide strategy to the agents and often miss listing opportunities in their own backyard, it will result to the detriment of the office income and the income of their own agents. During these tough times, sales managers actually have to work; assuming they actually know how to do so.

Posted by: foulplay at November 12, 2009 9:56 AM in response to House of the Day: 75 New York Avenue

Elliman Manhattan beats out Elliman Brooklyn once again for the nice townhouse. How does Elliman management in Brooklyn (three offices) justify losing out to Manhattan offices over and over again? One would surmise that in Manhattan, their agents seek out listing opportunities and pursue the business (even across the river). Perhaps the Brooklyn management simply lacks strategy and simply waits for the phone to ring. Act busy but do nothing. Collecting a paycheck without really working just does not jive.

Posted by: foulplay at November 11, 2009 7:21 PM in response to House of the Day: 75 New York Avenue

As one of the bloggers noted, this property has been on the market at least a year; better bet is this property has been on the market for close to three years. Probably greater than a year with this broker. I guess the attitude is hold a listing that will not move rather lose a townhouse listing. Are there ever any open houses for this property? Only know about it through word of mouth. Never really see it advertised - except for on brownstoner. Perhaps a new marketing approach and a price adjustment might eventually to the trick; or, do nothing and the owner will eventually figure it out.

Posted by: foulplay at October 26, 2009 4:06 PM in response to House of the Day: 291 8th Street

Maly, perhaps you have a point. Your point is even more emphasized if you were to purchase instead of rent at 500 Fourth Avenue. Ridiculous pricing and a border line location that is so out of synch. with the insane pricing especially in today's market.

Posted by: foulplay at October 21, 2009 2:56 PM in response to Development Watch: 574 4th Avenue

Exactly my point. Imagine if the printed information really did put the brokerage in a vulnerable position. At least, the so called supervisor could have realized this while reviewing the window display or public ads. Brownstoner was obviously able to detect this before the supervisor/director. Remember, these questionable ads also put the owner of these rental properties in a unecessary precarious position. Glad I'm not paying someone NOT to protect my business from potential exposure.

Posted by: foulplay at October 15, 2009 2:29 PM in response to Closing Bell: Two beds, 11 Baths?

Obviously, the identity of the brokerage can be figured out. Perhaps, the agent received calls concerning the ad. I still question why such a sloppy rental ad made it past the supervisor/director.

Posted by: foulplay at October 15, 2009 11:58 AM in response to Closing Bell: Two beds, 11 Baths?

The reality is a typo will get by the "editor" now and then. However, the text, as pointed out by other bloggers, is the bigger issue. Arguably, the language concerning smokers/dogs has the potential appearance of impropriety concerning the Fair Housing laws. Recently, due to problems in this area, the larger brokerages have become very sensative concerning this issue and have taken precautionary steps to educate the agents and brokers. Perhaps, this is a smaller brokerage. What an embarrassment if it is a larger brokerage; such stupidity is unexcusable since there would presumably be a Director of Sales for each office monitoring and watching for such potential problems. Salaried position to protect the company? One must pause and ask why.

Posted by: foulplay at October 14, 2009 11:03 AM in response to Closing Bell: Two beds, 11 Baths?

The biggest joke is this stupidity about the bathrooms came into public display. Doesn't the supervisor or sales director of that office review ads before they leave the office? At the very least, the office director should pick up the error before Brownstoner exposes it. What is this person being paid for? Perhaps, one does not exist at all at this brokerage; perhaps this a function left to the receptionist or agents. Brownstoner was at least decent enough not to expose the brokerage.

Posted by: foulplay at October 13, 2009 7:20 PM in response to Closing Bell: Two beds, 11 Baths?

FSBO is a no brainer if a seller is willing to dedicate some time to show the property. Very highly confident that available technology will suffice for market penetration (i.e NYT website, Craigslist, etc.). This is exactly the technology that broker's and agents use. You might be better served receiving early advice from a profesional and objective real estate advisor. There is a fee for the professional services associated with this advice but it will save you a ton of money in the long run (i.$500,000/3%/6% = $15,000/$30,000 to broker or agent to be in "Nappa". Frustration well understood. A sound real estate advisor who specializes in your given area of real estate (cooperative/condos in your instance) or other areas will also present information and questions of beneficial interest that may add some additional value and potential savings to the sale and other future purchases or conveyances. Most professional real estate advisors have a profesional license and strong real estate background in areas of the real estate industry (real estate finance, real estate law, accounting, architecture, engineering, development)along with the necessary market knowledge within each specialty; far beyond a NYS Broker License or NY Sales Agent License. Moreover, you can seek and receive advice from the professional real estate advisor that is objective and NOT self-serving since no commission is involved. If you are not willing to do the physical showings, there is always another solution.

Posted by: foulplay at October 9, 2009 1:48 PM in response to FSBO Ground Rules

Amazing that this listing has vanished into thin air. I hope the listing agent owns this building; otherwise, all faith in Elliman might have vanished. If this is a arm's length transaction, the owner deserves so much more. What does it all mean if Elliman in Park Slope did not have the basic ability to locate and market this property and the Elliman office in Manhattan no longer has the listing?

Posted by: foulplay at October 8, 2009 5:13 PM in response to House of the Day: 212 8th Avenue

What a beauty. Indeed, it makes sense that Betancourt had this listing by the fact that Betancourt is a Brooklyn based brokerage located in Park Slope. What does not make sense, again and again, is why Elliman brokers from the Manhattan offices beat out Elliman brokers from the Park Slope office (in the very same neighborhood this property is located). Somebody was sleepoing at the wheel. Doesn't the managing broker of the Brooklyn Elliman office track Park Slope brownstones that are on the market and provide some lead assistance to its agents? At least, one would believe this is what a director of sales is supposed to do in order to support the brokers and income flowing to the office; this is tacit basic business knowledge one should never have to explain any further. What is wrong with this scenario? The local Elliman sales director should be embarrassed by this loss of listing and revenue as well as other past listings in the locale again and again. What is the Brooklyn director of sales in Park Slope really doing to procure leads and business? This is where one must pause and consider. Perhaps chasing weak listings and leaving the good Brooklyn brownstones for Corcoran and Brown, Harris (and Elliman in Manhattan) to feast on.

Posted by: foulplay at October 7, 2009 2:08 PM in response to House of the Day: 212 8th Avenue

Why an Elliman office from Manhattan beats out three Elliman offices in Brooklyn for this listing does not make sense. This happens over and over again. Perhaps senior management should question how the office managers are proactively training their agents. Part of the job is to track and anticipate potential properties within given areas and a strategy for acquiring such listing. Moreover, chances are an agent working in another county is not going to be as familiar with the given neighborhoods and therefore not represent the property as well as the local office.

Posted by: foulplay at September 23, 2009 2:25 PM in response to House of the Day: 526 Carlton Avenue

I would much, much rather live in the Elan next to McDonalds on First Street than the so called 500 Fifth Avenue project on a grngy part of 12th Street. "Aspire Higher" and pay more for less. For starters, the Elan as a completed project, better location and more realistic price should be an obvious no brainer. Additionally, the developer and/or broker have enough common sense to make adjustments to move inventory. I do not know what the others are thinking or doing to counter this move.

Posted by: foulplay at September 23, 2009 11:37 AM in response to Broker Switcheroo, Huge Price Cuts at The Elan

Crownlfc, based on your last note and as an actual member of REBNY, the bloggers, especially Babs, might some pay attention.

Posted by: foulplay at September 22, 2009 4:20 PM in response to Worst Broker Experience Ever

Because any "good, experienced and knowledgable broker" quite frankly should NOT have to become a REBNY member. I would love an explanation. The market indeed does take care of itself. A good broker is a good broker regardless of the existence of REBNY. Why is every broker, agent, etc. of a large brokerage house obligatd to become a REBNY member? Perhaps, the named managing broker for each office might make sense; but every agent? That sounds like many memberships and a great deal of expense. The public should flesh out the bad brokers and sales agents; not the "false" protection of REBNY. Your conduct and professionalism as a broker should validate your ability in the industry - not REBNY. The reputation is what carries the day, NOT a symbolic membership.

Posted by: foulplay at September 22, 2009 4:12 PM in response to Worst Broker Experience Ever

Babs, your statement about "two bit brokers" and so on is a gross generalization of the industry and insulting to many involved. I am sure there are many sound and prudent methods for conveying your situation to the owner represented by this difficult broker. I believe the statute makes public policy exeptions, if even applicable and hopefully the same for REBNY rules; again, I believe it is an industry duty to protect against bad broker behavior and poor representation. You would rather spew your generalizatios about non-REBNY brokers instead of taking the proactive measure of protecting your own industry. By your inaction, you as a real estate broker, left another prospective buyer, broker to the exposure of your own horrible circumstance. This is how you protect your business and perhaps property?

Posted by: foulplay at September 22, 2009 3:33 PM in response to Worst Broker Experience Ever

Babs, if you were treated by such non REBNY broker in such a horrible way, perhaps you might be under a moral and industry obligation to contact the Owner of such property and let him/her know the facts about the conduct at the open house. I certainly would do this. This eliminated a potential party to a transaction. At least this would leave room for owner investigation to ferret out the actual problem. This goes for REBNY and non-REBNY members. By no means should REBNY membership be the immediate indicator of good faith dealings. Brokers should really be industry watchdogs for one another. If a non-REBNY broker is meeting his/her ethical/moral/legal duty to their respective client(s) and to the industry, there should be nothing to worry about at all and one should sleep well at night. You should not be afraid to "out" whoever treated you in such a way. You would be doing the industry a sound service.

Posted by: foulplay at September 22, 2009 12:56 PM in response to Worst Broker Experience Ever

If you are dealing with a professional broker (the person) who is NON REBNY it should not matter. Make sure you broker co-brokes as a rule. Have them sign a document indicating the same. It is no different with REBNY members. Many REBNY members claim that they co-broker, but we all know that their self serving interests always prevail. Remember, most of the larger firms have inexperienced sales agents. If the problem has already transpired with such REBNY member agent, what good is REBNY after the fact. As far as advertising is concerned, in this modern day and age, there are more then enough electronic vehicles available to promote a property. It is how the broker works for you after the market penetration has occurred. If a good broker is doing her/his job, the property will be advertised to all brokerages, including REBNY members. The broker's job is to protect the deal for the client and use strategies with the client. I deal with building that usually have a more complex aspect concerning tenancies and income flow. There are only so many buyers out there for such properties. The broker is only causing dteriment to their listing and client if they do not co-broker. Remember, "sharing listings" is not really co-brokering. Co-brokering is splitting the commission at the closing

Posted by: foulplay at September 22, 2009 12:25 PM in response to Worst Broker Experience Ever

I certainly do not agree with REBNY membership as the solution. The solution is working with a broker who has real broker/business experience; a broker who understands the concept of offer and acceptance; a broker who can "work outside" the box; a broker who will respond to your questions and anxieties promptly and substantively; a broker who will find the answer to the best of her/his ability; a broker who has a business or legal background above and beyond simply being a broker; and remember, I said a BROKER, not a sales agent or other type of other assistant. The accountability is greatly enhanced when working with a bona fide liecensed broker (the person). Not a licensed brokerage (the business) The above should be helpful when considering a broker - NOT REBNY membership. REBNY is a real estate trade group mistaken for a legislative body. Many large REBNY member brokerages simply have inexperienced neophyte sales agents running around and making many mistakes. A good broker should quickly impart upon the buyer/seller a solid basis for his/her knowledge of real estate. Remember, NON-REBNY members who are honorable and knowedgable can problem solve with their clients and do not have to adhere to REBNY "mandates" as far as commissions are concerned. For example, I can represent a seller on a building for 4%, or less in some cases. REBNY does not want to lower the commission standard below 5%. Think about the above in totality when making real estate decisions.

Posted by: foulplay at September 22, 2009 11:39 AM in response to Worst Broker Experience Ever

I certainly do not agree with REBNY membership as the solution. The solution is working with a broker who has real broker/business experience; a broker who understands the concept of offer and acceptance; a broker who can "work outside" the box; a broker who will respond to your questions and anxieties promptly and substantively; a broker who will find the answer to the best of her/his ability; a broker who has a business or legal background above and beyond simply being a broker; and remember, I said a BROKER, not a sales agent or other type of other assistant. The accountability is greatly enhanced when working with a bona fide liecensed broker (the person). Not a licensed brokerage (the business) The above should be helpful when considering a broker - NOT REBNY membership. REBNY is a real estate trade group mistaken for a legislative body. Many large REBNY member brokerages simply have inexperienced neophyte sales agents running around and making many mistakes. A good broker should quickly impart upon the buyer/seller a solid basis for his/her knowledge of real estate. Remember, NON-REBNY members who are honorable and knowedgable can problem solve with their clients and do not have to adhere to REBNY "mandates" as far as commissions are concerned. For example, I can represent a seller on a building for 4%, or less in some cases. REBNY does not want to lower the commission standard below 5%. Think about the above in totality when making real estate decisions.

Posted by: foulplay at September 22, 2009 11:37 AM in response to Worst Broker Experience Ever

Half Off you state what is reasonable. Prove it to the prospective buyers and to the rest of the side line. If the statistics are factual, it would stir true confidence in a very cautious real estate environment. Since these stats are NOT proven, one can only pause, question and doubt. Is not strategy and marketing business the job of the broker?

Posted by: foulplay at July 29, 2009 6:43 PM in response to Taking the Pulse of 4th Avenue's Inventory

The brokers continue to engage in the fictitious "in contract" game. The advice given here is that all parties ACTUALLY in contract should permit the brokers to reveal these so called signed contracts (with some form of confidentiality to the parties) to prospective buyers. It would help the parties already "in contract" attract additional buyers for the building and thus a quicker CofO and the formation of a board; and it also would also legitimize the developer and move the inventory with confidence. It is certainly not surprising that that the brokers are not engaging this method of proof to move innentory: THE PROOF SIMPLY DOES NOT EXIST (EMPHASIS ADDED. The idea that this "in contract" game is played by brokers, and permitted by office managers without having to legally prove the same to prospective buyers who actually enter into contract under such false information is very smelly.

Posted by: foulplay at July 29, 2009 2:42 PM in response to Taking the Pulse of 4th Avenue's Inventory

Once again it is funny math at the Douglas Elliman Park Slope office. Considering that this office is basically a rental office anyway, this building will soon join the pack. The office simply cannot compete with the other brokers for the better end sales listings. Is it not the responsibility of the office manager to prevent such "slanted" math. Some day upper management will catch on.

Posted by: foulplay at June 25, 2009 4:43 PM in response to 500 Fourth Avenue 20% Sold; Opening in Fall?

What is so mind blowing is how a Manhattan Elliman broker gets the listing for this apartment when the Elliman Brooklyn Heights office is a step away. It seems that the Manhattan Elliman brokers obtain equally as many Brooklyn listings as the Brooklyn Elliman Brokers. This speaks loudly to the inept management at the Brooklyn Heights office. Why doesn't the local manager of this office have the ability to compete with the other larger and smaller brokerages in the neighborhood? Upper management should keep their eyes on this issue of ineptitude and lack of an ability to compete.

Posted by: foulplay at June 25, 2009 4:36 PM in response to Condo of the Day: 110 Livingston Street, #6W

Swine Flu - off on all fronts. I just have some solid knowledge regarding the horrible management of the Brooklyn offices at Prudential Douglas Elliman. I believe change is on the way.

Posted by: foulplay at May 12, 2009 12:37 PM in response to Checking In On 500 4th Avenue

What a joke! No sales will happen in this building. Certainly not in the foreseeable future. Especially, if this building is listed and managed through the Park Slope Brooklyn office of Prudential Douglas Elliman. The poor broker who obtained this huge building will not get any managerial support. This is due to the office manager's utter incompetence. Hopefully, he has at least a fourth grade mental ability to anticipate a rental scenario for this building. Hoefully, this is not too difficult consiering the PDE Park Slope office is basically a rental office. They lose all their sales listings to Corcoran, BHS and the smaller shops. It is laughable to even think four units went into contract. Remember, StreetEasy follows the Elliman website. It is easy to post "in contract" on a website. It certainly would NOT be the first time Elliman has done as such. I would love to actually see those signed contracts. How long unil this building considers the rental scenario. If the developer is smart and deliberate, the rents have already been determined for next week. I hope the PDE broker has enough sense to anticipate that rental commissions may be the only option.

Posted by: foulplay at May 12, 2009 11:51 AM in response to Checking In On 500 4th Avenue

Given that Elliman is sooooo poorly managed in Brooklyn, it is no surprise you were never called back. Obviously, the incompetent office manager should have been aware of misrepresentations made in its substantive misrepresentations. Hopefully, Elliman will wake up to the problem of poor office management in the Brooklyn offices before it is too late.

Posted by: foulplay at May 7, 2009 1:55 PM in response to Condo of the Day: 70 Washington Street, #9G