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Looking For Real Estate Companies in New York?
Selling your existing home or buying a new home can be stressful. Luckily, you don’t have to do it on your own. Your real estate agent will be at your side from the beginning, guiding you through everything from arranging inspections to signing the contract. Therefore, working with one of the top real estate companies in New York is crucial.
Your real estate agent can make your home sale or purchase into a smooth, successful experience. So, to be sure you pick the right agent for your needs, we’ve put together our list of the top real estate companies in New York. The agents in these brokerages are local experts with access to the tech tools and training resources they need to guarantee your successful real estate transaction.
Brown Harris Stevens
This luxury residential real estate firm was founded in New York City by Charles S. Brown almost 150 years ago — in 1873. They are still headquartered in Manhattan, although they now have offices in other boroughs, as well as Riverdale, Hudson Valley, the Hamptons, Connecticut, New Jersey, and Florida.
Brown Stevens is one of the country’s largest privately held real estate brokerages. They are also one of the top real estate companies in New York. In 2020, despite the pandemic, their over 1400 agents closed over $2 billion in just Brooklyn, Manhattan, and Queens, making them the 4th largest brokerage in that market. Their agents specialize in making the home buying or selling process simple and seamless for their elite clientele.
Compass
Compass Real Estate was established in 2012 as Urban Compass. Founders Robert Reffkin and Ori Allon set out to disrupt the property industry in 2012.
The premise behind Compass is two-fold. First, they wanted to focus on technology. Then, they wanted to replace Realtor commissions with salaries and bonuses. While neither of these is unique, they help Compass differentiate itself from its competitors.
Many real estate insiders welcomed their fresh approach, including some high-profile investors who put their money into the startup venture.
Compass has mushroomed into one of the largest real estate brokerages in the country. According to the RealTrends report, Compass is the 4th largest real estate brokerage in the country, with over 144,000 transactions in 2020. And because of their emphasis on the luxury market, this also places them in second by volume, closing over $151 billion in sales.
On the technology side, Compass has kept its focus on proprietary software to make it easier for agents to assist clients. This has led to the growth of its engineering team as it hires more employees to develop apps and software.
One area where Compass differentiates itself is in machine learning capabilities and AI. This has helped agents improve their decision-making, including everything from pricing homes to Deciding on the best time for a sale. It can even help agents decide on which potential clients to target and when.
However, not all of its employee acquisitions seem to go over well within the real estate industry. That unfortunately led to a federal lawsuit, with Zillow claiming its poached workers violated non-compete contracts and stole intellectual property and client lists, and took them to Compass.
Compass Real Estate originally planned to do away with the traditional agent structure. Their goal was to offer their agents a more stable income, based on salary and bonuses.
However, Realtors weren’t necessarily in agreement on this. In fact, most real estate agents have a strong entrepreneurial streak. They prefer independence and unlimited earning potential.
Barron’s reports that ultimately the company switched back to the traditional Realtor commission model after finding that its original compensation plans weren’t quite working out.
The change to the pay structure was well received by agents. In 2019, Compass had over 140,000 applicants. They only hired the top 1%.
The Corcoran Group
Does the name “Corcoran’ sound familiar? If it does, it might be due to its founder. Barbara Corcoran was one of the original investors on “Shark Tank.” But before she became famous for exchanging money for stocks on television, she was in the real estate industry.
The Corcoran Group was founded in 1973 in New York’s Upper East Side with just $1,000 and 7 agents. Today, they have over 110 offices in New York, the Hamptons, and Florida, with over 3,500 Realtors. Although they are not billed specifically as a luxury brand, Corcoran handles some of the most exclusive properties in their markets. They have set records for the highest-priced property sold at least 3 times (2003, 2015, and 2017).
Douglas Elliman
Douglas Elliman is an international firm, but its roots are firmly tied to the Big Apple. This real estate brokerage was founded in Manhattan in 1911 as a basement store. Today, Douglas Elliman has over 7,000 agents working with them, with offices in NY plus seven other states.
Despite its growth, Douglas Elliman remains dedicated to the NY market, particularly the luxury market. Of its over 130 offices, 27 are located in Manhattan and another 21 are in Long Island. Besides its strong business in the luxury division, Douglas Elliman also specializes in the 55 and up community and clients with ultra-high net worth. Their Realtors are trained to handle all the unique requests that go with these specialty markets.
Halstead Real Estate
A boutique luxury firm, Halstead was established in 1984. They were one of the pioneers of using storefronts as office space, a strategic move in their well-trafficked markets. As of May 2021, Halstead has over 1300 agents located throughout New York, New Jersey, and Connecticut.
What makes Halstead Real Estate one of the top real estate companies in New York? For starters, they are the Official Luxury Real Estate Firm of the New York Yankees. Also, they were the 6th largest firm by closed sales volume (Brooklyn, Manhattan, Queens) in 2020. Halstead agents are known for their skill, local expertise, and excellent client care.
Nest Seekers International
With headquarters in New York and London, Nest Seekers International is a global firm with a strong New York presence. Although they are international, they are limited as to the markets they serve. However, they are one of the top real estate companies
in New York. In 2020, they closed almost $2 billion in sales in Manhattan alone.
Nest Seekers uses innovative technology to represent some of the most highly sought after homes in its desirable markets. One way they do this is through Netflix show “Million Dollar Beach House,” which follows the professional lives of five Nest Seekers agents. Even if your home doesn’t make it on the show, you can be confident that Nest Seekers will use its media and digital reach to make your real estate transaction smoother and more lucrative for you.
Sotheby’s International Realty
Sotheby’s Auction House was founded in London in 1744. Its real estate division was established almost 230 years
later, in 1976. They are committed to providing distinctive service for the unique properties and elite clients they represent. In 2004, Sotheby’s entered into an alliance with Realogy, which allowed the real estate firm to go international.
In 2020, Sotheby’s was the 5th largest firm in Brooklyn, Manhattan, and Queens, with over $924 million in closed sales. They are one of the most well-known luxury brands. As such, their agents enjoy training and education to maintain their status as unparalleled partners with the luxury community.
Warburg Realty
This real estate firm has been serving the luxury real estate market since 1896. They specialize in coops and condos in mid-range to high-end price points. Originally known as the Albert B. Ashforth Firm, the company changed names when it was bought by former broker Frederick Warburg Peters. Peters is the country’s first real estate professional to write a regular column for
Forbes magazine, establishing him and Warburg Realty as experts in the field.
Warburg Realty focuses on being tech-savvy. They provide a proprietary platform for their clients and maintain a strong social media presence. Warburg Realty is truly a NY real estate firm. They do not operate in other markets, so their agents, now numbering over 150, are experts in the local neighborhoods they serve.
Other Options For Selling Your House
Flat Fee Real Estate Companies in New York
New York also has several ‘flat fee’ real estate services. A flat fee MLS listing service provides an alternative to selling your home with a traditional real estate agent. If you decide to sell your home on your own, also known as FSBO (for sale by owner), a flat fee MLS listing service can help you market your home by listing it on your local Multiple Listing Service (MLS).
The MLS is the primary online resource for real estate agents. Real estate agents list homes and share properties with other agents on the MLS, helping their clients sell or find a home. There are hundreds of local MLS databases all around the country that handle property listings for their particular area. Most of the major real estate sites like Zillow, Realtor.com, and Trulia pull their data from the MLS. So if your home isn’t listed on your local MLS, most buyers and real estate agents may never see your home is even up for sale.
So how do you get your listing on the MLS? Well, only Realtors can access and post listings on your local MLS. This means if you choose to sell on your own without a real estate agent, you won’t have access. And again, without your home listed on the local MLS, you severely limit your listing’s visibility and the likelihood that an agent or buyer will see your home for sale.
This is where a flat fee MLS listing service can help, although maybe not as much as discount realtors in New York.
For an upfront fee, a flat fee MLS listing service will list your home on the MLS. The most bare bones flat fee MLS listing services will end their services there. Unlike a traditional real estate agent who offers “full service” including everything from pricing your home to negotiations to closing, flat fee MLS listing services will leave the majority of the home selling process up to you.
However, some flat fee MLS listing services will provide further assistance for an additional charge. You can choose from an “a la carte” menu should you require more guidance through the selling process. For instance, certain flat fee MLS listing services will offer marketing services like yard signs or a professional photographer. You may also be able to purchase services such as assistance with paperwork, contracts, or closing. Agents Compete, You Win.
Low Commission & Discount Real Estate Companies in New York
There are also Realtors and brokerages which offer lower and discounted commission rates for selling your home. This comes in a variety of forms. It can simply be offering lower commission rates or using commission rebates.
What is vital here is to compare experience, attentiveness, rates, and the services provided. You need a clear picture of the value you are getting for your money. You can get a good deal on commissions, but only if your home also gets sold.
For example: they offer a 4.5% commission, but try to keep 3%, and offer just 1.5% to buyer agents. Good buyer agents aren’t going to waste their time showing those homes. They just can’t afford it. So the property gets ignored. Winds up as a ‘pocket listing’ collecting dust on the shelf, and will probably only sell if your listing agent has a personal friend or contact that wants your property. If you want to sell swiftly, you probably can’t afford that.
However, if you can negotiate a laid out list of marketing items, with an experienced agent that will work hard for you, and they will personally give you a discount, then that can be a great win. Maybe they will take 1% off of their commission, half the commission if they are responsible for the buying and selling side, or provide a fixed dollar amount rebate.
How to Find Agents from Top Brokerages
New York, particularly New York City, is filled with real estate companies. From boutique luxury firms to international franchises, you’ll surely be able to find the right fit for your lifestyle. And because of the competitive nature of the local market, the agents in the top brokerages are knowledgeable, professional, and dedicated to your success.
Above all, remember that your realtor should be there to aid in your home buying process, not just to show you listings. Helping you avoid the wrong time to buy, the wrong location or the wrong house for your budget can all go a long, long way in making sure that you’re happy with the end result. Beyond that, realtors aren’t all the same, and you will need to find one that gels with your interest as a home buyer before choosing to go the length of the field with them.
UpNest, which is owned by parent company Realtor.com, uses a proprietary agent matching system that considers closed listings, location of listing, and other factors to provide the customer with 3-5 individual proposals.
The proposal includes commission information, marketing techniques, a Q&A about the agents, local trends, reviews, and more. Once agents start using UpNest’s platform, the matching system evaluates their performance with UpNest, including conversion rates and response time.
UpNest is a no-cost service for home sellers and buyers to find the best real estate agents locally. The UpNest platform allows you to compare multiple agents in your area so you can compare reviews, commission rates, previous sales, and more.
Our network agents have been carefully vetted and often offer competitive, lower than average commission rates to UpNest customers. There is no obligation to sign up with one of our network Realtors, but when you can potentially save thousands on commission – why wouldn’t you? If you’re ready to get started, just enter your zipcode below!
What is Fredrik from Million Dollar Listing worth?
Fredrik Eklund is a Swedish born New York City real estate broker and novelist. According to estimates, he has a net worth of $30 million.
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Eric Goldie is a real estate agent. As a longtime resident of New York City, Eric represents the standard of real estate expertise necessary to help clients explore the ever-changing NYC housing market.