The RE/MAX real estate brokerage has decided to enter the New York City luxury real estate market in a major way, according to a recent article in Real Estate Weekly.
RE/MAX’s founder, Dave Liniger, bought back the company’s Master Franchise for the entire state of New York. He plans to get local brokerage offices started in New York City, then spread through the entire state. Liniger says he visits New York City a lot, and is anxious to add that territory to his company. He predicted it would happen quickly. He has assigned RE/MAX’s Terry Bohannon to head the head the team to bring RE/MAX to New York.
RE/MAX does have an office in Manhattan, but it has struggled. Liniger says it’s like transferring to a new high school. RE/MAX is known as a suburban brokerage firm, and real estate agents in big cities are different from those in the suburbs. Liniger says it’s a matter of finding the right leadership. They need to sell franchises to brokers with the right drive, ambition and style.
Liniger started RE/MAX in Denver back in the 1970s. It now has over 100,000 agents in the United States and 100 other countries.
The same article cites a real estate company that started up in the New York City in 2010 by Andrew Heiberger, and has become successful. That’s TOWN Residential. It’s become New York’s best firm for luxury real estate services. It handles the sales and leasing of luxury apartments. It also works on commercial and retail property development on the upper end. It’s one of the Top 50 Best Places to Work in New York City.
According to Heiberger, a real estate firm must be big, because it needs enough margin to market effectively. He also dislikes the concept of discounting, because that repels the high-end broker and fails to get listings of luxury real estate, the kind he specializes in.
He emphasized his neighborhood-centered approach to the market. He plans to have offices throughout Manhattan and parts of Brooklyn to fully represent the city. Before founding TOWN, Heiberger pushed Citi Habitats to grow into a major brokerage in the city.