The Power of New York City Real Estate
New York City is one of the most famous cities in the entire world, and as such it has a vibrant and ever changing real estate scene. The city closes some of the most expensive residential real estate deals in all of the world, let alone the United States. Many firms are taking advantage of the rebounding housing market as well as the high demand for residency within the city. Even with a slowly declining number of deals in the city, the money per deal is getting even stronger.
While the city has an infinite number of brokerage firms, several have jumped ahead of the others to show themselves as the best of the best in this competitive market setting. The list of firms includes:
- Corcoran Group
- Douglas Elliman
- Brown Harris Stevens
- Halstead Property
- Stribling & Associates
— The Capitalist (@Capitalist_Site) April 28, 2016
Residential Real Estate Firms in NYC
Corcoran Group has been a dominant force in New York real estate for more than 35 years. They have sold residential homes in almost every neighborhood in the city, giving them a competitive edge for those looking for a broker. They have over 1,900 agents working for them in New York, the Hamptons, and South Florida, and have reached sales of more than $18 billion every year. In 2015, they overtook their competitor as the top seller in the city, raking in a massive $6.13 billion. As if this number on its own was not impressive enough, it grew an even bigger 43% from the previous year. On top of this, they were advisors and consultants on another $1 billion for other firms.
Douglas Elliman has been a key player since 1911 in real estate around the country. It has grown to be one of the highest earning real estate firms in the United States and is always on the top of the lists for New York City. They offer a large variety of real estate services that clients can use. The name Douglas Elliman is a trusting name in New York, New Jersey, Connecticut, South Florida, and California. In 2015, the real estate brokerage firm pulled in $5.42 billion from its various listings. This number has risen about 25% since the previous year. They consistently show themselves to be a top player in the real estate market in New York.
Brown Harris Stevens
Brown Harris Stevens prides itself in its professionalism, leadership, and ability to put the client first since its establishment in 1873. Each of the agents is a knowledgeable expert in New York real estate, and will do whatever it takes to get their clients what they need. Each of their agents has an average of 20 years of experience with real estate, which is far and away higher than most of their competitors. They specialize in high-end luxury residential properties in New York City, the Hamptons, Miami, and Palm Beach. They show a smaller overall net gain than the previous two brokerage firms, coming in at $2 billion in sales. However, they have shown consistent growth and look to expand even more in the next year.
The Halstead Property comes in at number 4 in our list of the top real estate brokerage firms in New York City. With headquarters in New York City, and offices in New York, Connecticut, and New Jersey, it is one of the most visible real estate brokerage firms. They run their business based on the expectation that their purpose is only to service the needs of their clients. Each of the agents working at Halstead Property values the customer above all else. Their unique strategy of “triangle” growth from the Upper Eastside to the Westside, to Downtown, has lead to an explosive growth of the city. They have risen in sales numbers to $1.5 billion and looked to continue to grow.
Stribling & Associates
The final dominating New York City real estate brokerage firm is Stribling & Associates. They key philosophy for a successful brokerage firm, according to Stribling & Associates, is that each agent collaborates with the right agent. A wrong agent can lead to a less than desirable outcome, but with the right partner; clients can see all of their real estate dreams come true. The customer and broker interaction is so strong that almost 80% of the business conducted by Stribling & Associates comes from referrals. Many of Stribling & Associates client remain in the family, with generations of buyers and sellers coming to Stribling & Associates. As if cementing their place as a force to be reckoned with, Stribling & Associates brought in $910.6 million last year, continuing to increase their real estate earnings. They look to continue their rise in the competitive New York City real estate world.