House of the Day: A Lesson in Poor Marketing
Cardinal rule of real estate marketing: Don’t use a photo that implies that a property has been sitting around on the market for six months. People are going to get very suspicious. Is the price too high? Is the interior a disaster? Is the seller a crook? These suspicions are only compounded when there is…
Cardinal rule of real estate marketing: Don’t use a photo that implies that a property has been sitting around on the market for six months. People are going to get very suspicious. Is the price too high? Is the interior a disaster? Is the seller a crook? These suspicions are only compounded when there is a coincident lack of interior photos. Which brings us to today’s house of the day at 230 Greene. The 3 1/2 story (we’re only giving that mansard-roofed top floor half credit) house at Grand Avenue in Clinton Hill looks nice enough from the outside. But that’s all we’ve got to go on–except for our festering suspicions. We’re guessing that this is about $100,000 overpriced, though it could be more if it needs more than a tune-up.
230 Greene Avenue [Craigslist] GMAP P*Shark
Also listed here:
230 Greene Avenue [Aguayo & Huebener]
The house at 230 Greene Ave. is listed with A&H. There are multiple pictures of the interior on their website. The property is priced at $1.1m
How do you find listings that no longer appear on Craigslist?
I think in the last two weeks I’ve heard Brownstoner accused of both trying to inflate prices in downtown Brooklyn, and by some of the comments here, trying to deflate them.
I personally would reduce my offer for this place (if I were offering to buy it) by 100k just because the lazy ass broker hasn’t taken any new photos. While I’m at it, I might even reduce my offer 50k further because the owner has hired a half-assed superintendant that only shovels snow from the center of the steps and doesn’t clean the entire staircase.
I don’t see an ethics issue here. It would be unethical were Brownstoner to pump up prices for comparables on his block. Here he is just giving his opinion. The question that gets raised in my mind, both here and in other blogs, is that blogs do not ascribe to any journalistic standard. I find that to be a problem and one that is not unique for the Brownstoner. In fact, I find it more inocuous on this site than I do on many others.
Anyone that reads Brownstoner’s comments on price realize they are most often off-the-cuff comments based on little intimate knowledge of the particular property and he does not pretend to be an appraiser. If read enough you realize his comments on pricing are often way-off and he changes when people give more info.
Who’s Randy Cohen?
Brownstoner should be able to say whatever he wants. It’s his blog.
It’s unethical to intentionally rip somebody off.
It’s highly ethical of Brownstoner to share his opinions with the ordinary shmoe on his blog.
Anon 2 has a very warped sense of ethics.
Ultimately, the person who wants to buy the house will offer what they want to offer, and the person selling it will accept or decline. I doubt that all those inclined to buy the house take brownstoner’s word as gospel. And I don’t see anything unethical about speculating on the price of a house. If the price is right, the property will sell accordingly. Incidentally, this block is not so great as you move toward Classon, but the corner is not bad and the surrounding streets are nice.
I think brownstoner’s criticism of the out-of-date marketing photo and lack of interior photos is appropriate. The realtor should provide a more recent photo and interior shots.
But brownstoner’s “festering suspicions” and “guess” that the property’s $100K overpriced (why $100K? Why not $50K? or $125K?) are baseless and stated in very negative terms. Brownstoner has not seen the property, researched it. Yet his comments might have a powerful impact. Brownstoner – and everyone else – is free to comment away. But I do believe there is potentially an ethical dimension – some comments are more responsible than others.
What say you, Randy Cohen?
Not familiar with this block -but from propshark list of what else is on this block (many 6+ apt bldgs, vacant lots, and stores, my suspicion is that its not the greatest.
And would also guess that house would need some work (also shows violation on propshark that could indicate not best maintained either).
So at about 2800sq ft. needing work,
on block that is probably lacking (lets hear from people around there)…
MY guess would need a bigger price reduction to find a buyer.