Heather Bise

The Story of Village Townhouses 1QFY10

In Buyers in NYC, Economy, Finance, For Brokers, New York, Real Estate on February 3,2010 at 1:51 pm

I recently needed to price a townhome in Greenwich Village.  As I was pouring through the data of true single family residences, I decided to focus on the current competition.   What did I find?  Well, there is no average list price or average square foot price.  The prices are simply all over the place deeming that in this 2010 market:  every home has its own story —upgrades and history; and every seller has their own chronicle to profit on their initial investment.   Simply, pricing is longer a black & white assessment.

Click on image(s) for larger view.

*not included in data: Supior Ink Townhomes, multi-use townhomes.

Blue in Green: Bankers, Bonuses & Brokers

In Economy, Finance, For Brokers, Greenwich Village Events, New York, Real Estate, Uncategorized on January 14,2010 at 5:07 pm

As an evening endeavor to mend my real estate beaten mind, I recently took shelter at Arte on 9th & University Place and nursed a really big glass of red.   There is something about listening to Bobby (the bartender), that makes me forget just about everything that is troubling me.   His thick Brooklyn accent usually makes me smile and wonder if I will ever lose my Ohio accent that carries that nasal “a” still to this day.

Unfortunately, my sanctuary of the Brooklyn tone, Barbaresco and numbness of thought came to an end.   There is a television near the bar which does not enhance the atmosphere; but, I guess it helps the Barflies pass time.   From that television, an announcement of Wall Street bonuses fueled Bobby’s guests to rant like there was no tomorrow.  Now, I usually like to keep to myself:   I do not like people to bother me and I enjoy Arte because it is not necessarily a happening place; and more importantly, it is not a “pick-up” kind of place for singles.   As the anti-banker conversations grew layered, I was weighing if I should intercede on the banter of bonuses.  Upon hearing, “The Government should take all of that bonus money from bankers and give it to the poor!” with a chorus of agreement — I jumped right in to the mix and said, “I do not agree at all!”  So, there I was, a thirty-seven year old woman being questioned by much older men why the bonus money should not be given to the less fortunate.  Well, I went into my pitch as if I was Vincent de Gournay, stating that I am all about a free market and that we all choose the profession in our lives and its course.   The bonus bashers said they agreed in a free market too.  I said “Really?  Well, that is hypocritical don’t you think? I would have guessed you were  Keynesian groupies!”  And then they asked that dreaded question…What do you do?  With effort to escape the foreseen bruises that maybe afflicted by acknowledging that I was a real estate broker, I responded: “I am in sales.”  Well, they were not letting me get away that easy, they asked “What do you sell?” With a very slow slip of red, I said, “real estate.”   The gates of wrath were now wide open: they said of course I liked bankers- they made my life easier and richer; and brought up the recent article in the Wall Street Journal about Brokers profiting from Bankers.  And they said: “Real Estate Brokers are rich in New York.  Of course you like Bankers – you are just like them.  It is ridiculous what real estate commissions are here!”  Now the Barfly Bonus Bashers of Arte found a new outlet for their “blues” – real estate brokers!

My Retort while Promoting Green $…

Odd it to me is that the masses think that if you are a real estate broker — you make a lot of money.  Not the case for most of us —especially in the beginning.  Look, I am not going to lie; I became broker to make money – a lot of money.  But, it is not as you assume— instant fortune.

When I was 33, I worked for a Fortune 500 company handling real estate (as a third party) for many corporations across the country.  My life was good and even though the pay was not great, I was able to pay my bills the majority of the time and I considered it an education that I got paid for.   I handled some pretty over-the-top pieces of real estate for some extremely wealthy individuals.  I have to say, I was never envious or judged them for having a wealth that I did not have.  Actually, it gave me hope to have interactions with these wealthy individuals; it proved to me that none of us have to settle – even professionally.      

So, I packed my bags so to speak and headed for New York.  I gave-up comfortable… for a commission only profession and struggled for a long time (and never complained).  The journey was tough; but the possibilities were endless.  The “idea” of possibility was exciting to me no matter how bad things got (and they were BAD).  I just worked and worked; and worked more.   If I did not have appointments or clients at certain points: I read, I did research, I created charts; but, I worked while keeping my eye on that great possibility of prosperity.   And I never expected anyone like the government to help me – I simply do not believe in it for myself.  I believe that one must always earn money —it is not something to just take without earning.  

That driven focus of “the possibility” has recently turned a corner in the reality of prosperity for me; and yet, I keep it moving forward while earning with integrity.   I guess, I could have stayed comfortable; but, I decided not to.  If you are not happy about the money you earn – do something about it instead of complaining about it.   Or halt the complaints while staying comfortable where you are.   It just takes some courage…and no fear.

So much for the calming evening at Arte…As I left, I said to Bobby:  My evening was reminiscent of that Miles Davis tune, Blue in Green—with a 21st century spin and yet, there was that great red, RED wine!  No surprise, I still LOVE New York…Bankers, Bonuses, Brokers and even Barflies.

Definition of Principle

In Beyond NYC, For Brokers, New York, Real Estate on November 30,2009 at 12:00 am

It has often been said that real estate agents and brokers in NYC are not exactly known for their ethics, morals or values. Let’s face it, we have a really bad reputation here in Manhattan.

Today, I was reading a few real estate sites and the message boards were full of anti-broker comments.  I must say, it is always disheartening to come across those that do not practice a set a values in this business.  On the flip side, I have had the pleasure of working with some really great brokers that always do the right thing — even if it means walking away from dishonest situations.  Over the years I have diligently tried to change that perception of the shady broker–it is actually one of my written goals.

Recently, without going into details or tarnishing the image of the individuals that are involved, I was put in a compromising quandary here in NYC real estate.  Something I could not agree to do.  So, I simply said,  “ I cannot do it because of the principle of it!”

It is nearly seven days after that meeting and nothing has been resolved.  My children, Grace and Sam asked me tonight about the status.  By their questions, I also realized they, like those of last week, do not know what is meant by me when I say, “it’s the principle of it”.

So, I used a very simple analogy to explain it to my children.

I said to them:

“Let’s say you worked really, REALLY hard all quarter long at school and earned an “A” in every subject. During that same quarter you happened to notice that a really popular classmate (whose family gave a lot of money to the school) was cheating – you said something to the teacher about the popular kid cheating and never brought it up again. You actually never thought about the kid that cheated again because you were too busy working for those As!   Even though you are not popular, did not come from a wealthy family -like your classmate, you were really proud of what you accomplished and could not wait to get that report card. 

It is now the last day of the quarter and you are waiting for your teacher to give you your report card and see your name on the honor roll! But, your teacher kind of made it difficult for you. Your teacher said to you, that in order to get your report card and be on the honor roll, you would have to sign a document that said you never saw or reported that your classmate was cheating…What would you do?”

Sam said: “Mom, that’s just not right!”

Grace said: “Mom, that would be a bribe…”

Sam said: “Mom, that would make me a cheat too by lying…(long pause) I could not do it.”

I smiled and said: “That is what is meant by: it’s the principle of it!”

Grace and Sam replied: “We get it Mom.”

Definition of Principle (n):The collectivity of moral or ethical standards or judgments: a decision based on principle rather than expediency.