Most investors and even laypeople know that Manhattan and New York City have some of the highest-valued real estate in the world. Did you know that the island of Manhattan is as valuable as Canada's entire GDP?
The tri-state area is a great place to live and to work, but buying or investing property shouldn't be a challenge. Thankfully, with the help of our relationship with groups like REBNY, it's possible for everyone to navigate the complicated maze of New York real estate.
Here's what you need to know about REBNY and why we work with them.
Getting to Know REBNY
In New York State, REBNY has everything there is to know about real estate. The Real Estate Board of New York is a trade association that represents real estate professionals. It's members work together to protect, improve, and progress the business of real estate as we know it in New York City and the Tri-state area.
Since its founding in 1896, it's been working on behalf of the many interests shared by its members. It focuses on both public and industry policies. The organization sends its members to speak before government bodies, including city councils, the state assembly, and the state senate.
The goal of REBNY is to expand the economy of the city and state. In New York, especially New York City, real estate is the greatest natural resource. Developing, planning, and renovating commercial and residential property helps to enhance the city's appeal to the many interested investors and residents.
They even help to facilitate property management.
REBNY is great to work with because they devote a lot of their efforts into researching and compiling data about important civic matters. They're a resource for real estate stakeholders who need to know about tax policy, city planning, rental conditions, land use, and the impact of laws and legislation.
REBNY's regularly published market data and policy reports function as an almanac as well as an information pipeline into the latest changes in the industry.
By working with REBNY, we have access to resources related to information and technology, courses, and educational sessions related to licensing. Most of all, we abide by the high ethical business standards demanded of all REBNY members.
About REBNY Membership
The members of REBNY are the cream of the crop. And we're not just saying that because we use REBNY. Many of the most influential real estate professionals in the tri-state area can be found holding membership.
You'll find commercial, residential, and institutional property owners. There are builders and construction professionals, building managers, real estate investors, real estate brokers, and salespeople.
There are even other associations and organizations involved. These co-partnerships keep people engaged and informed in business related to New York real estate so that all stakeholders have a chance to connect.
What Does REBNY Offer?
REBNY offers free and discount services to its members. With their assistance, we offer the best to our clients. Following are the most important services we provide.
Real Estate board Library
For anyone trying to get ahead in the real estate industry, REBNY is an amazing resource. Their library contains one of the largest collections of industry journals, reports, and periodicals covering the trade association. They have regularly updated information on ownership and mortgages for New York.
Valuation listings for every single plot of land in the city can be found in this database.
Working with REBNY offers us access to this information that's only available to a small number of people. We get customized reports from information that's held in their exclusive database.
Top Mediation and Arbitration
REBNY is great at providing mediation when disputes arise. While most of the people in the industry have mutual respect, that doesn't mean that it's impossible to have disputes. They'll step in between members or between members and non-members.
This means that if anything happens in the course of a transaction or an investment, there will be a firm hand on the steering wheel. When both parties reach an agreement, there are standard ways that REBNY can ensure that all interests are put in writing, the right way.
The most obvious advantage outsiders will see in working with REBNY is the access to a property database. With a constantly updated database and a searchable web-based tool with info for every piece of property in the area, there's a lot more we can do than others.
Property is more than an address. There is granular information on blocks, lots, neighborhoods, and different types of property that impact pricing and decision making.
Records for properties include the history of sales, ownership, zoning information, taxes, and more. The data comes from the Department of Finance and is updated and broken down on a regular basis.
REBNY's Code of Ethics
Everyone associated and affiliated with REBNY is required to honor their code of ethics. This code of ethics clarifies the responsibilities between colleagues and to the public.
Talk to most real estate professionals, and they'll cite a generalized code of ethics. However, there are more specifics in REBNY's code than you'll find anywhere else.
When there are issues over money, there is voluntary mediation or binding arbitration. When the issues don't have to do with money, issues are resolved by REBNY's expert Ethics Committee or the subcommittees of brokerage bodies.
RLS is the most common code of ethics for real estate professionals. However, this is merely a supplement to the strong and comprehensive codes that are put forward by REBNY. They promise fair treatment for licensees, partners, and everyone participating in a transaction with anyone associated with REBNY.
This code applies to buyers and sellers alike.
What Our Relationship With REBNY Means
Our relationship with REBNY means that we're more than just another New York tri-state real estate company. Our relationship has as much to do with the geographic markers of the region as it does the associations involved with the region. The area encompassing NYC, Connecticut, and New Jersey is often lumped together because of the real work and life balance held by residents.
Many people work in one of the regions and live in the other. However, it's challenging for the average person to be able to navigate the laws and regulations around real estate in all regions. They want to live and work, enjoying the culture and commerce, without hassles.
That's where we step in.
Navigating one of the most expensive housing markets in the country is challenging for someone to guide you. There's a lot of value in each plot of land and knowing how to get a good deal requires working with people who have an understanding of how the market works. REBNY has been part of New York City since there were farms on the upper reaches of Manhattan.
From One Family to Another
Tri-State Area is a family-run real estate business. We connect with the biggest names in the region to help our customers navigate the complications of a real estate search.
The way that people buy homes and invest in property today is much different than it was in the past. You need to do more than to run a simple search for a new home. Large companies have muscled their way in and populated the listings with the ones that will benefit them, not necessarily the home buyer or investor.
Real estate opportunities in NY today include renovations, re-imagined industrial spaces, new construction, and co-ops. Understanding what it takes to get one of these homes shouldn't be your job. We work with the stakeholders to make buying a home simpler.
Working with REBNY means that we're able to think differently from traditional real estate businesses. Rather than making you sift through the thousands of listings out there, we do the initial filtering to allow property owners or prospective stakeholders to get busy.
We believe that people make the difference and want to help not only homeowners but also lenders, contractors, agents, or any kind of real estate professional. Our relationship with REBNY allows us to offer practical and informative help through an intimate knowledge of the market.
Our goal is to anticipate the needs and expectations of the people we work with and to provide resources that make life easier. We work with REBNY's vast resources so that we can serve you better.
REBNY Advocate for Real Estate Investors
With the help of its lobbying and investing efforts, REBNY has real influence on government officials and local communities. The benefits of these relationships trickle down to the people who have the resources to buy up and invest in properties.
We want to make it easier for everyone and that's why we work with REBNY. For more info on how to invest in the five boroughs, check out our guide.