What’s the platinum market for?
How much are you willing to pay for an apartment?
How does a platinum realtors salary compare to the average Manhattan realtor?
That’s the question that was posed to a lot of people in an article titled “How Much Is Your Platinum Worth?”
Platinum realtor Steve Janssen is one of them.
In his opinion, there is no better realtor than a platinum.
His advice is to “make sure your platinum is worth what you think it is,” and to always keep an open mind.
“A lot of my clients that I’ve worked with have done a really good job with their platinum,” Janssens chief financial officer says.
“But it’s not a guarantee.”
What makes a realtor worth it?
You’re the one paying for the home.
It’s a great place to live.
You don’t have to work long hours, and the property is well maintained.
You’re making money by selling apartments that you own.
It could be worth millions of dollars, but you’re not going to make that much money on it.
“It’s not the real estate market that’s making you a lot more money,” says Jansson.
“The platinum market is making you millions of bucks.
You need to be really careful with what you pay for a home.
I would say your home should be a luxury property.”
And how does a realtress earn that money?
The median salary for a platinum salesperson in Manhattan is about $130,000.
That’s about half what a salesperson earns in the city as a whole, according to real estate analytics firm Trulia.
But that salary is much higher in some neighborhoods.
A typical Manhattan realtor earns $150,000 per year.
What makes it so lucrative?
There are three types of salespeople in the realtressing business: real estate agents, real estate brokerages, and salesmen.
The first two work with large, established, well-known commercial realtresses.
They get paid a lot, often more than the average buyer.
A realtor that works for a big commercial building, for example, could earn about $300,000 a year.
The other two, who work with small commercial properties, typically earn about half of that.
“These guys are really important,” says David Hickey, who owns the realtor firm Real Estate Strategies in New York City.
“They get their commission and they are really, really important.
They’re very, very important.”
The brokerages make up the majority of the business in Manhattan.
These are the salespeople who sell apartments to buyers that are not from the same socioeconomic background as the sellers.
In other words, they don’t just sell apartments for a quick profit.
They are selling apartments for decades to generations of the same families, which is a rare phenomenon.
“Brokers make a good living because they are selling for the right price,” says Hickey.
“When they sell an apartment, it’s very, well, they’re selling for a price that is a reflection of the neighborhood in which they live.
But, they also have a lot in common with a real estate agent.
They do the same thing, and they get paid like a real professional.”
How much do brokers charge?
Most brokers charge about $100,000 for a single-family home, according a recent study by real estate company Trulia, but many are charging much more.
“I’ve been in the business for 25 years,” says Trulia’s president and chief economist, Scott Siegel.
“And I can tell you that the median transaction price for a Manhattan residential property is about 30 percent higher than the median price for an upscale apartment in the same neighborhood.”
How do you know what you’re getting for your money?
Because the broker is getting a commission for the property, which can vary from $1,000 to $30,000 depending on the market.
And since the broker isn’t getting any commission for buying a home, he’s getting a profit.
“You don’t know the market value of a home until you sell it,” says Siegel, “and you also don’t see a return until you get a return on your investment.”
You don and don’t want to pay a high price for the apartment.
You’ll pay a lower price later, when you’re ready to move in.
And you can save a lot by investing in a condo or house, which could come at a lower cost.
What do you expect to earn on a $300k-plus property?
“In New York, it can be as high as $300 to $400 million,” says L. Daniel Baskin, who runs the realty firm, Baskins & Co. “If you’re doing the math, it is a very, high income for a very high income, but a lot less than you might be making as a commercial realtor.”
What’s more, realt