In this episode of Talking Manhattan, Noah and John welcome James McGrath, co-founder and broker at Yoreevo, to discuss recent trends in the Manhattan, Brooklyn, and New York City real estate markets. James talks about an unexpected surge in market activity during February, attributing it partly to a slight decrease in mortgage rates which reinvigorated buyer interest. The conversation also touches on the affordability challenges, particularly with co-ops, leading to a noticeable shift of buyers towards condos.

James also shares his insights on building successful client relationships in real estate, emphasizing the importance of trust, value, and the strategic use of data to guide clients through their purchasing decisions. He advocates for honesty and the necessity of admitting when further information is needed, underlining these as key factors in establishing credibility and long-term client loyalty. Another good one!

Resources mentioned:

Property Taxes - https://a836-pts-access.nyc.gov/care/search/commonsearch.aspx?mode=address

Flood Zone - https://dcp.maps.arcgis.com/apps/webappviewer/index.html?id=1c37d271fba14163bbb520517153d6d5

Noise Map - https://maps.dot.gov/BTS/NationalTransportationNoiseMap/

Highlights:

00:42 - Uptick in activity

02:11 - Impact of interest rates

04:00 - Coop vs condo: affordability

11:45 - Strategies for turning leads into clients

14:26 - Building credibility with data

17:15 - Significance of admitting when additional research is needed

James' page at Yoreevo:

https://yoreevo.com/agent/james-mcgrath

Connect with James on LinkedIn:

https://www.linkedin.com/in/james-mcgrath-52b93913/

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Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/