Good Morning New York, Real Estate with Vince Rocco

Co-op rules need to change. This has been the mantra of the NYC real estate industry for many years. Things like fair housing practices and time of board approval are becoming increasingly more of a concern. Can this city get there with new laws surrounding these “private” corporations? And while putting together your board package, you start to get curious and a bit worried. Co-op boards require so much personal information about your lives, your finances, and on everything. Also at this Hour: Buyers are moving more slowly. Negotiations are taking a lot longer. Contracts are taking longer to get signed. Constant follow up and communication is key with sellers, buyers, co-brokers and also with the attorneys, and the bank. We will get into all of this.

Your real estate marketing social media strategy can make or break your business in 2020. With an overcrowded marketplace and industry, it is crucial to put your mind to the task and show what makes your business unique. Yet throwing a few social media ideas at the wall and seeing what sticks simply isn’t going to cut it. A solid, well-rounded real estate social media strategy needs to be intentional and rooted in the fundamentals of a sound business. It requires a proven system that puts your clients first and keeps your business front and center. We are going to talk to Ali Rubenstein, Social Media Director at Halstead and find out the keys to a successful campaign. Also at this Hour: In case you’ve been living under a rock, what has the industry reeling since last week is the state’s interpretation of certain language in last year’s rent law. Specifically, that under the law, landlord’s must foot the commission bill for any rental brokers they use. Though owners of high-

The real estate market throughout the years has benefited many people, from buyers to sellers to investors. But even with relatively low-interest rates and reduced selling prices today, there is still a big gap between the number of people that want to own a home and those that are able to make that purchase. Getting a mortgage is inevitable. Unfortunately, standard mortgages are not always accessible for many people, especially first-time buyers. But there are programs out there. We will talk to a banking expert this morning. Also at this Hour: The millennial generation and their consumption habits are largely blamed for fundamental changes in several industries like retail and the housing market. But according to CNBC there seems to be new interest in buying value and 2020 could be the year of change for Millennials buying homes. And what are the succession rights in rent stabilized and rent controlled apartments?

On our show today: In New York City, the global epicenter of the coronavirus pandemic, homeowners are not putting their homes on the market so fast: new sales inventory has hit a significant low during the months of lockdown as validated by several real estate platforms. However, the New York City rental market is showing early signs of a turnaround from the sharp declines it experienced in mid-March, when public health protocols around COVID-19 took effect. This NYC rental market rebound is still beginning, but should bring some encouragement to renters, landlords, and rental agents. Also today: How Millennial’s have shifted their buying strategy. Is it in response to the COVID-19 pandemic? We will discuss.

On our show today: When most people consider buying residential property in New York City, their first question is whether they should purchase a unit in a co-operative (co-op) or condominium (condo). However, many purchasers are more interested in owning one of the many historic townhouses that can still be found throughout the City. But townhouses are relatively rare in New York City, making up less than 2% of annual residential transactions. As a result, many prospective buyers are unfamiliar with the unique considerations that apply to buying and owning one. But with a new normal in New York City coming up have they become much more desirable? We will discuss.

On our show today: Living a green lifestyle is about truly embracing sustainability and making real differences for the planet and people. Today, everyone wants to do his or her bit for the environment. However, knowing how to go about it is the key and it is hard. The real estate markets interest in green real estate, on new and existing buildings, is on the rise and there is no end in sight. Homeowners are seeking healthy, green real estate more than ever, and sourcing real estate agents that are certified in Green Homes. We will talk about restaurants, businesses, and real estate construction and brokerage firms all keeping green in mind.

On our show today: NYC is a resilient city, a vibrant community of diversity and strength. We have overcome many tragedies and obstacles that have shaped the fabric of our neighborhoods. COVID-19 has changed the way we do things but it has not changed who we are. How will be go forward with our businesses and our life? Also today: Devin Someck is Living New York Co-Founder and Principal responsible for overseeing the firm's daily operations and leader of an innovative team of 100+ agents across four offices. As a luxury, boutique agency Living New York has sold over $1B worth of real estate, representing buyers, sellers, developers, investor groups, and bulk sale transactions. We will talk to Devin this hour.

On our show today: The Manhattan and Brooklyn markets are made up of numerous sub-markets or neighborhoods, all of which have unique characteristics. Although headlines in 2019 were dominated by negative market stories confirming an overall downturn in the NYC condominium market, numerous neighborhoods experienced continued demand proving that well-located and well-priced developments are still highly sought after by today’s consumer. Where are those neighborhoods and who is actually buying? What price points are in demand and how much of a discount is necessary off the advertised sales price?

Building a professional real estate team can be critical for a successful real estate business. Real estate teams work together in helping clients find, buy, and sell or rent properties throughout the process. However, building these teams can be an arduous task and finding the right agents is important to the dynamic of the players involved. There is an old saying, “If you’re the smartest person in the room, then you are in the wrong room.” Applying this ancient wisdom can be helpful to choosing your team members if you want to hire experts who have more experience or are even smarter. It keeps you learning and growing. Surround yourself with better. This theory works and makes your team interactions more productive.

U.S. real estate agents and lenders are bracing for the biggest housing crash in over a decade. Since the coronavirus spread and the American government shut down the nation’s economy, real estate reports are grim and show the U.S. housing market is facing considerable challenges “amid economic uncertainty.” Buyer confidence is changing. When and how will this reverse, what will the comeback be like? What will the new normal be in an industry that once boomed and took over the nations past time? There are many sides to this projection and controversial so let’s see. Also today: Are the many activities that underline the real estate industry – from real estate agents, building and construction to title searches – essential services during this coronavirus pandemic? This too is very controversial. Our national panel today will discuss.

On our show today: So everyone has a fascination with NYC Real Estate. Some would ask why? Well we are the greatest city on earth and with that comes many things. One being the super-hyped housing market in NYC. Price, price, price. But just like life anywhere in the world we have our dramas, intrigue, shocking situations, emotional ups and downs, strong opinions, and an entitlement that can be all consuming. With that said the real estate industry is not immune and it seems like ALL OF LIFE plays out in our day to day dealings with people. Oy! People... I always say, ‘what a business’. You cannot make this stuff up. Sit back, pour your coffee or cocktail and listen as my panel tells stories of sex, intrigue, drama and relationships. Some shocking, some funny but all true.

Manhattan real estate sales ground to a halt in March. Could prices plunge next? Coronavirus hammers the already battered NYC luxury housing market, luxury new condo developments may not rebound for a very long time. The White House warns that the week ahead will be full of sadness as the US death toll will increase significantly. NYC is devastated by COVID-19. Hospitals face severe shortages of critical supplies and PPE. And Wall Street begins the week on an update note. Also today: Why would we risk it? NYC real estate agents push back against the essential business ruling from New York State.. and we are continuing with our ‘stay at home’ directive including everything virtual.

New Yorkers who don’t abide by social distancing may want to watch out for their condo and co-op boards or rental buildings. The state has barred social gatherings and ordered employees of non-essential businesses to stay home. Not everyone, of course, is following the rules. So, condo and co-op boards and rental buildings are exploring their options for dealing with residents who, say, grant access to the building for friends and family members or others. Attorneys are recommending that buildings seek “emergency injunctive relief” if neighbors don’t follow the state’s guidelines. The last thing anyone wants is litigation, but in this particular context, if people’s health, safety and welfare are potentially being jeopardized, that seems a good enough reason. You are at risk every time you leave your apartment for anything. Also today: Nearly 450 homes were pulled off the market, new listings plummeted and contract signings sank in New York City last week due to COVID-19.

On our show today: Agents are seeing home sales fall as panicked buyers back out of deals and sellers hesitate to invite strangers into their home for showings, The Wall Street Journal reports. The virus strikes the city at a particularly unfortunate time, halting home sales at the time when they would normally be at their peak. But unlike previous drops in home sales, like during the subprime mortgage crisis of 2008, this is not expected to last nearly as long. Demand for housing was especially strong before the coronavirus hit the U.S., thanks to favorable demographics and strong employment. Hope was there. Also today: the panel will give us an update on their daily activities and what they are doing to weather this storm which can go on for months to come.

At this Hour: What we are going through some say is natural because we have been here before. I don’t buy it. Deals are harder to do which means we need to work harder to save each one of them. But that seems standard to me though. So what’s the rub here? Prices have come down but I think more is needed to meet buyer’s expectations but are the sellers there yet? If you want to stay in this business of making deals, you need to work very differently than ever before and find that coveted amount of patience within each of us. Both buyers and sellers need skillful expertise and very experienced representation now more than ever so let’s step up to the plate. Also at this Hour: Nikki Field from Sotheby’s International Realty is here with us today and we will get an update from this icon in our industry.

On our show today: As of yesterday, New York City Mayor Bill de Blasio asked employers to let people work from home, while New York Governor Andrew Cuomo says the number of coronavirus cases has jumped to 142, highest in the country. Eight patients of the 142 are being treated in the hospital and most cases are located in Westchester County. Cuomo has stressed that most people who become infected will have mild symptoms. Cuomo also said that schools in New Rochelle could be closed for weeks because of the outbreak there. He did not elaborate on specifics. Mayor de Blasio said every public school in New York City will have a nurse in the building. He added that all public school international trips are canceled for the remainder of the school year. Also Today, its almost that time of the year, where the Hamptons come alive and the Summer season is about to begin, believe it or not. We will talk to an agent specialist from the Hamptons today to get the scoop.

On our show today: Will banning brokers’ fees actually save renters money? That question is being asked around the world as governments try to reduce move-in costs for renters. Over the past decade, Germany, Britain, Scotland and Spain have ruled that landlords, not renters, should pay brokers’ fees. In a surprise ruling this month, New York also adopted fee reforms. A judge though temporarily blocked the changes after real estate groups sued the New York Department of State. Investigating reforms abroad offers insight into what might happen in New York. The preliminary findings? A ban looks like it would be a good deal for apartment hunters. And they briefly celebrated. We will get into it this morning. We have members of NYRAC, the New York Residential Agent Continuum here to discuss.

On our show today: True New Yorkers are all obsessed with real estate. And New York is full of amazing places to live, which is why it’s not unusual to find oneself perusing real estate listings that are financially out of reach. Everyone has their personal preference when it comes to their fantasy place: the sleek penthouse with panoramic views, the updated brownstone on a leafy Brooklyn street, a classic loft in the Flatiron District. Here is where fantasy meets up with reality: All of this window shopping prompts the same question from everyone “Why on earth would you ever leave that place?” It is all about lifestyle or a change in lifestyle, and we will discuss. Also at this Hour: Approximately half of the luxury-condo units that have come onto the market in the past five years are still unsold. In Manhattan, the homeless shelters are full, and the luxury skyscrapers are vacant. Such is the tale of two cities within America’s largest metro. Even as 80,000 people sleep in New

If you are thinking of selling your NYC apartment and have been watching the market for an uptick in sales activity to help you get to the right price strategy, you may not find it. There are many reasons why the market flipped last year into a buyer’s market, - including a glut in luxury condos not sold and the political uncertainty for 2020 and it doesn’t look likely to change, but that doesn’t mean it’s the wrong decision to sell. Your priority is to get your apartment seen by as many qualified buyers as possible, and realistic pricing is key. So how do you do that? We will tell you in the next hour. Also at this Hour: The New Year is a time when everyone is making New Year’s resolutions for their professional and personal lives, but too often those goals and aspirations are abandoned by February or March. The gym is one example. So, how can real estate agents keep those New Year’s resolutions and stay motivated all year long, even when times get tough? The panel is going to