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1 in 10 agents in Intel survey say they’ve seen tariffs blow up a deal

Agents and brokers are already feeling the impact of new trade policies, new Intel polling shows, an indication that the brokerage business might not be as insulated from tariffs as once thought.

May 20, 2025/0 Comments/by JKents
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Christie’s Real Estate names Gavin Swartzman as next president

Swartzman previously served for 11 years as CEO of Toronto-based Peerage Realty Partners. He is replacing former co-presidents Natalie Hamrick and Kevin Van Eck, Inman has learned exclusively.

May 20, 2025/0 Comments/by JKents
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Top producer Patrick Southern joins SERHANT. in Hudson County

The Jersey City new development and brownstone expert was most recently affiliated with Coldwell Banker Realty. In the past year, he’s closed nearly $200 million in sales volume.

May 20, 2025/0 Comments/by JKents
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SA’s 15 surprise buyer’s markets revealed

SA’s sellers have had it good, with a stock shortage meaning many are getting more than their asking price.

But new data reveals there are 15 suburbs or towns in SA where the buyer has the upper hand.


According to property data analyst SuburbData, sellers have the best chance of bagging a bargain in Gulfview Heights.

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Sellers in the northern suburbs end up selling for 12.5 per cent below their asking price on average, representing a potential saving of $120,000 based on the median suburb price of $960.000.

House sellers in Adelaide city also settled for 8.2 per cent less than what they were chasing, and Modbury, Largs North and Banksia Park homeowners sold for 5.3 per cent, 4.9 per cent and 3.4 per cent less than their asking price.

SuburbData analyst Jeremy Sheppard said suburbs with high rates of vendor discounting were usually “buyer’s markets” where home seekers were entering price negotiations from a stronger position.

Jeremy Sheppard of SuburbData. Supplied

“There is a correlation between higher discounts and softer demand,” he said.

“Whatever situation the market is in, whether it’s oversupply or some other factor, higher discounts reflect that buyers are in control and sellers have to take what is given to them.”

“Properties selling for well above the advertised prices indicates the buyers are often desperate. As a seller, you will hear from new buyers in hours.”

According to the report, the average house seller in Woodside, Hallett Cove, Parafield Gardens, Munno Para West, Christie Downs, Ingle Farm, Christies Beach, Salisbury Downs sold for less than their original asking price, with unit sellers in Mawson Lakes and Adelaide also dropping their asking price in order to get the job done.

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While it was good news for buyers in 15 locations, sellers in one Adelaide suburb are laughing all the way to the bank, with new data revealing it as the place buyers are prepared to pay the most above their asking price.

New figures on vendor discounting released by property data analyst SuburbData reveal Golden Grove house sellers are fetching the most, on average, the most above their advertised asking price.

According to the data for properties with an advertised price guide for the 12 months to March, the average final selling price is 14.8 per cent higher than the average asking price in the leafy northeastern suburb.

Modbury Heights house sellers, also in the northeastern suburbs, weren’t too far behind, with sellers paying, on average, 14 per cent more than asking price.

House sellers in Sturt, Salisbury North and Mount Barker all bagged more than 10 per cent above their advertised price – 13.6 per cent, 10.9 per cent and 10.2 per cent respectively.

LJ Hooker property specialists managing partner Craig Ricciuto, who sells in Golden Grove said an imbalance between the number of those wanting Golden Grove homes and those on offer meant buyers were prepared to pay more to secure one.

Craig Ricciuto of LJ Hooker Property Specialists. Supplied

“It’s very buoyant out here and the demand is producing good results for vendors,” he said.

“The amount of people we’re meeting at opens doesn’t give me any reason to think it will slow.

“When people grow up here they want to stay here because all of their friends are here, so they’ll start in the parent’s house, buy their own place and start off small, step up and end up where they started.”

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Retiree Sally Modra, 66, has just sold her Golden Grove property through Mr Ricciuto for more than she was asking for and said she was thrilled with the result.

“I had three or four offers and knowing that I got more than I was hoping for makes me feel warm and fuzzy,” she said.

“I didn’t think I was going to get what I ideally wanted for it, so I’m really happy.”

Adelaide's most profitable suburbs revealed
Sally Modra outside the Golden Grove home she has just sold for more than her asking price. Picture: RoyVPhotography

Vendor discounting – SA’s biggest winners (buyers)

Rank Suburb Property Type Average vendor discounting
1 GULFVIEW HEIGHTS Houses 12.5
2 ADELAIDE Houses 8.2
3 MODBURY Houses 5.3
4 LARGS NORTH Houses 4.9
5 BANKSIA PARK  Houses 3.4
6 WOODSIDE Houses 2.1
7 HALLETT COVE Houses 1.9
8 MAWSON LAKES Units 1.8
9 PARAFIELD GARDENS Houses 1.5
10 MUNNO PARA WEST Houses 1.4
11 CHRISTIE DOWNS Houses 1.3
12 INGLE FARM Houses 1
13 ADELAIDE Units 1
14 CHRISTIES BEACH Houses 0.9
15 SALISBURY DOWNS Houses 0.4

Vendor discounting – SA’s biggest losers (buyers)

Rank Suburb Property type Average vendor discounting
1 GOLDEN GROVE Houses +14.80%
2 MODBURY HEIGHTS Houses +14%
3 MORPHETT VALE Houses +13.60%
4 STURT Houses +10.90%
5 SALISBURY NORTH Houses +10.20%
6 MOUNT BARKER Houses +9.30%
7 FLAGSTAFF HILL Houses +7.30%
8 SEAFORD RISE Houses +7.30%
9 SMITHFIELD PLAINS Houses +7.20%
10 BLAKEVIEW Houses +6.50%

Source: SuburbData

The post SA’s 15 surprise buyer’s markets revealed appeared first on realestate.com.au.

May 20, 2025/0 Comments/by JKents
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7 reasons why ground-floor apartments are desirable—instead of dealbreakers

New Yorkers fall into two camps when it comes to ground-floor apartments—some prefer them, while others avoid them at all costs.

But choose wisely, and you’ll be able to avoid or at least mitigate the possible pitfalls of first-floor living, including lobby and street noise, a lack of privacy and natural light, and a greater risk of pests, odors, and flooding (though you can never completely escape those city-living problems, even in a penthouse). 

On the plus side, ground-floor units generally cost less than comparable apartments—generally speaking, the lower the floor, the lower the price. They can also better accommodate your lifestyle needs (especially in walkup buildings). And some lower-level units have features that make them more desirable than units on higher floors—namely, outdoor space or even duplex layouts.

Read on for what makes a ground-floor apartment worth considering.


[Editor’s note: A previous version of this article was published in June 2024. We are presenting it here with updated information for May 2025.]


1. Lower prices on average

How much you might save on a ground-floor apartment will depend on various factors, such as location, exposures, square footage, layout, and any outdoor space. That said, the sales price of a first-floor unit is typically up to 15 percent lower than a comparable unit on a higher floor.

“If it’s really close to the lobby and facing the front, that could be 20 percent less,” said Kobi Lahav, director of sales at Living New York. “If it’s facing the back and quiet but there’s no light, it may be 10 or 15 percent less,” he added.

One real-life example from Lahav is the case of two identical apartments on the Upper West Side. The second-floor unit sold for $1.55 million, while the rear unit on the ground floor sold for $1.35 million. If the ground-floor unit had been facing the street, Lahav suggested the price may have been further reduced to $1.2 or $1.25 million. 

“Being in the front is a dealbreaker for many people,” he said. “And if the window is directly facing something like a bus stop, that’s going to be a 25 percent discount,” he said. It’s worth considering such factors for resale value, but if you are strapped for cash, these subprime apartments might be the only way to get your foot in NYC’s real estate market. 

Julia Hoagland, a broker at Compass, pointed out another upside: “Often the shares in co-ops are lower for lower-floor apartments, which lowers maintenance costs and frees up liquidity for other, more interesting expenditures.”

Moreover, “given not everyone is open to ground-floor living, you’re likely going to be competing against fewer buyers, which increases negotiating leverage,” she added.  

According to Lahav, however, people are more willing to consider buying on the ground floor when there’s a severe lack of inventory, as is the case now. “I am seeing less hesitation, especially if it has outdoor space,” he said.

2. No downstairs neighbors

Being on the ground floor can protect you against noise complaints from neighbors, especially if you have kids. Gerard Splendore, a broker at Coldwell Banker Warburg, knows firsthand the benefits of living on the ground floor. 

“Our apartment was located over the laundry and storage rooms. My two children, as well as the other two who lived next to us, could—within limits—make as much noise as they liked and jump and run without concern about bothering neighbors below,” he said.

3. No elevators or stairs

Tired of waiting for the elevator in the morning rush hour? Or maybe you live in a walkup and have to navigate the narrow stairwell, day in and day out.

Whatever the scenario, being able to step right out of your front door can be a huge perk, especially if you have a stroller, scooter, or bike in tow. The same applies if you do bulk shopping trips at Costco. 

And get this: “You are never subject to the pain of elevator outages when maintenance is being done,” Hoagland said—ditto for summer blackouts. 

Splendore offers another unexpected benefit: “By facilitating access to the lobby, first-floor occupancy is convenient for building events such as annual meetings or the holiday potluck dinner. If there are not enough seats, a first-floor dweller can roll out a desk chair or stool.” 

4. Fewer missing packages 

Now that online shopping is the new normal, so is the reality of package theft in NYC. 

That’s one reason Splendore sees “an updated bonus of first-floor apartment living” as the immediate acknowledgment of package delivery. “Post-pandemic, there are fewer brick-and-mortar retail outlets, with more deliveries—from diapers to groceries—coming directly to the lobby and, in many cases, to first-floor apartment doors. So there’s less chance of packages disappearing,” he said.  

5. Cheaper moving costs 

Don’t underestimate this benefit—even simple moves in NYC add up.

“Movers in NYC will charge by the floor in walkups, so ground-floor moves equal cost savings,” Hoagland said. 

Or as Splendore explained it: “If the first-floor shareholders do not live in a co-op that requires large deliveries to go through the basement, first-floor delivery of appliances and move-in/move-outs can be much simpler by not requiring the use of an elevator, requesting elevator protection, or inconveniencing other shareholders.”

That would seem to apply to renovations, too, where the meter is running every time workers have to wait for the service elevator. 

6. Outdoor space (maybe)

One of the most common perks to offset the potential downfalls of a ground-floor apartment is the all-important backyard, a coveted amenity in a city with precious little outdoor space. It’s also handy if you have a dog. 

In some cases, landlords may renovate the backyard to make it more enticing (though if not, check out how to install low-maintenance fake turf).

And here’s a pro tip: If you’re hoping for a unit with outdoor space without stiff competition, you may be able to score a deal by looking in the colder months; when nice weather hits in spring, buyers quickly add outside space to their wish list. (The same goes for nabbing a rental on a garden level.)

Pro Tip
Pro Tip:

If you’re not seeing enough places—ground floor or otherwise—for sale in your price range or target neighborhood—and/or you’d like to avoid a bidding war—consider expanding your search to “off-market” listings. NYC real estate brokerage The Agency uses technology to mine public records and identify owners who may be ready to sell, meaning you can meet and deal with owners before their homes hit the market. Click here to learn more

7. Extra storage and square feet

If you are on the ground floor of a townhouse or brownstone, there’s a good chance you’ll get access to the building’s basement, which could mean extra storage and even your own laundry room. You might also have a private entrance under the stoop and gain a de facto mudroom via the common hallway that leads down to the basement.

According to Hoagland, sometimes the ground floor of a co-op or condo “has a layout unique from any other floors, and owning a unique asset can help you stand out from the competition in a crowded marketplace.”

She said the math might make sense even if your purchase doesn’t come with these added benefits.

“You generally get more for your money in terms of square footage for the same price, given the cost differentials. Buying real estate involves deciding what one’s personal goal priority tree looks like, and if space is number one over light and views, for example, a ground-floor apartment can be a perfect choice.”

—Earlier versions of this article contained reporting and writing by Virginia K. Smith, Nikki Mascali, and Emily Myers.

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May 20, 2025/0 Comments/by JKents
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Former eXp agent is latest to sue brokerage over alleged assault

Kirsten Childress alleged she was drugged and sexually assaulted following a private event during eXp Shareholder Summit in May 2023. She is the sixth woman to make similar allegations in court.

May 20, 2025/0 Comments/by JKents
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Once on a path for expansion, Homie now a shell of its former self

Utah-based discount brokerage once said it was the largest in the state and was on a path for 1,000 agents. A few years later, the company was sold and is rebuilding under new ownership. Starting with its 22 agents in 2 states.

May 20, 2025/0 Comments/by JKents
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New Keller Williams book helps rookies create a ‘limitless career’

Keller Williams VP of Strategic Content Jay Papasan has penned a new, 18-chapter book outlining how new agents can build a lasting sales career. The book is available for pre-sale and will officially debut in September.

May 20, 2025/0 Comments/by JKents
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Family of slain Texas Realtor Ashlee Long demanding bail reform

The family of Ashlee Long, a 28-year-old Houston Realtor fatally shot during a night out in Dallas, is calling for urgent bail reform in Texas after her accused killer was released on bond, FOX 4 News KDFW reported.

May 20, 2025/0 Comments/by JKents
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Aus bank’s shock reason for RBA double rate cut call

One of Australia’s biggest banks is urging the Reserve Bank to deliver a double rate cut Tuesday to avert a looming shock.

Sally Auld, chief economist of National Australia Bank, believes the RBA board has a unique window of opportunity with inflation dropping to give the economy a jump-start via a much needed double rate cut of 50 basis points – to thwart economic headwinds.

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NAB chief economist Sally Auld. Picture: Ryan Osland

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“While we certainly don’t see it as an emergency, the lag in policy action and its impact imply a need to act relatively quickly – particularly when the stance of policy is not right for the prevailing economic conditions,” she told News Corp Australia.

Ms Auld, who took over the top NAB economics role in March this year, said “after hiking rates rapidly as inflation broke out, the RBA has held rates at a high level for an extended period”.

“This effectively put the brakes on the demand side of the economy to ensure inflation returned to a more normal level. Which it has done over the last few months and at the same time the global outlook for growth has softened.”

NAB says RBA put the brakes on economic demand which now needs to be addressed.

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Ms Auld cited two main factors that support a 50bp cut at Tuesday’s monetary policy meeting.

Inflation

“On inflation, we’re now more comfortable that the RBA’s underlying measure will return to the middle of their target band by mid-2025.”

Global outlook

“On the global outlook, even though trade tensions have thawed in recent weeks, the outlook for global growth is still weaker than before Trump’s Liberation Day tariff announcements.”


“We think this weakness, fuelling uncertainty in markets, will reduce inflation even further.”

Ms Auld said “all of this means the RBA no longer needs to keep the brakes on the economy”.

Indeed, she said, “as inflation continues to moderate, lower rates are needed to ensure the labour market and economic activity remains healthy”.

Aerial View Of Buildings In City
Homeowners with mortgages across the country are hoping for more rate relief this year.

“Importantly, with inflation looking more benign the RBA has the scope to support the economy in the face of any global weakness, as is the current outlook.”

Ms Auld said “recent data shows that the economy has held up relatively well, including the labour market, and for now there appears to be a positive trend in global trade negotiations”.

But, she added “we still think they RBA will want to normalise the policy rate more quickly than before – whether that’s in one large change or multiple in quick succession”.

Either way, most experts agree borrowers are in for major interest rate relief going forward this year.

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The post Aus bank’s shock reason for RBA double rate cut call appeared first on realestate.com.au.

May 20, 2025/0 Comments/by JKents
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