New Web site looks to become Zagat's for residential real estate
November 16, 2009 06:30PM By Candace Taylor
From left: Kathy Braddock and Paul Purcell of Charles Rutenberg Realty, and Jonas Lee, who has founded several internet startups, have launched TopAgentGuide.com
Ask any Manhattan resident how to go about finding the right real estate agent, and you'll likely get a flood of horror stories about high-pressure sales and terrible apartments.
A new Web site is trying to change that.
TopAgentGuide.com, newly launched by the founders of real estate consultancy Braddock + Purcell, aims to function as a kind of Good Housekeeping Seal for real estate, by prescreening agents and pointing users to the best ones.
"We've got thousands of agents in New York, but there's really no way to find the best one," said Kathy Braddock, executive consultant at TopAgentGuide.com. "Hopefully the site will make the consumer more aware of the fabulous agents out there."
But Braddock has even loftier aspirations for the venture.
"I believe it will raise the bar for professionalism to this business," said Braddock, who founded TopAgentGuide.com along with Internet entrepreneur Jonas Lee and with Paul Purcell, her partner at Braddock + Purcell and at the brokerage Charles Rutenberg Realty in New York.
TopAgentGuide.com features profiles of some 100 hand-picked Manhattan real estate brokers from a variety of different companies. Each profile includes reviews from former customers, a video interview with each agent, and "vital stats" such as the agent's sales figures for 2006 through 2008.
Potential clients browse the site and when they find an agent they like, they contact the TopAgentGuide.com staff, who pass them along to the agent, or recommend another agent on the site who is a better fit. The customer can choose to interview several agents before selecting one. The service is free to the consumer; and the site's founders plan to make their money by receiving the industry-standard referral fee at closing.
Braddock + Purcell spent a year screening each of the agents through interviews and peer and client recommendations. Braddock said they chose only the agents who are truly outstanding; those that didn't make the cut weren't included. Agents cannot pay to be featured on the site.
Some top-earners -- Prudential Douglas Elliman powerbroker Dolly Lenz, for example -- are not on the site.
That's because the city's most successful -- and busiest -- brokers aren't always the best choice for a new customer, and especially a first-time buyer, Braddock said, noting that the agents on the site were selected on the basis of customer service and other qualities in addition to sales figures.
"Just because they're making the biggest dollars doesn't mean you have the qualities that we think are also important," Braddock said.
When asked for her opinion on the new site, Lenz said she most likely would not have agreed to participate in it, since she gets almost all of her clients from referrals and already has more business than she can handle.
Moreover, she said she's not sure how successful the site will be, since buyers often prefer to get referrals from friends or family members, or go to a property-driven site like Streeteasy.com rather than sites that promise to pair them up with a good agent.
"If they're looking for an agent, they're looking for a personal friend," she said. "This type of thing with a site that tells you who is the top agent, that's not going to be what sticks."
The founders are optimistic that the site will not only take off, but engender more accountability in the industry, changing customers' perception of real estate agents as "a step above a used car salesman," Braddock said.
"I think the real estate business is the last business to finally get some kind of vetting mechanism," she continued. "I am hoping it will elevate the whole brokerage industry."
The site is currently limited to sales agents in Manhattan, but the founders hope to expand it to Brooklyn, then the rental market, and ultimately to other areas of the country. Braddock said she and Purcell will continue their consulting business for the time being, though if the site takes off they may merge the two ventures.
The idea for the site came from Lee, who has founded several Internet startups, including Giftcertificates.com. Most recently, he co-founded Redbrick Partners, an investment management firm that specialized in renovating and renting single-family homes.
The idea for a business sparked about a year ago, when he decided to sell his Manhattan apartment but didn't know where to look for an agent, despite his experience working in real estate.
He immediately thought of his longtime friends Braddock and Purcell. Purcell is the former president of Elliman, which has since become the city's largest real estate firm, and Braddock was previously Elliman's executive managing director and general sales manager. But both had gotten their start in the relocation segment of the business, gaining experience in matching agents with customers. Several years ago, they founded Braddock + Purcell, which does just that, but in "an off-line, white-glove way," Lee said.
He thought their knowledge should be made available to a wider audience.
"This information should be out there on the Web," he said. While there are other sites out there that match agents with customers, like NYRentClub, Flyrig.com, or rateyourbroker.com, most charge users a fee or ask for contact information, which TopAgentGuide does not do, he said. Other companies are national in scope and have only a few Manhattan agents.
"The reason I started this is because there was nothing like this," he said.
Lee provided the fundraising prowess, and Braddock and Purcell set to work selecting agents to be featured on the site. In the process, they focused on identifying the brokers' particular strengths. In Purcell's view, incompatibility between client and broker -- often the result of customers picking their agents at random -- is often the reason transactions go awry.
"Sometimes, it's just the wrong person for the job," Purcell said. "When you get the right person, it just makes the transaction so much easier."
To determine that, he and Braddock asked the agents detailed questions about their specialties, as they do with their off-line business. "All agents say they work all neighborhoods," Purcell said. "I said, 'tell me your sweet spot. Tell me where you cannot be stumped. What I want to do is hit a home run -- I want you, the agent, to look brilliant.'"
On the site, Glenn Norrgard, a senior vice president at Sotheby's International Realty, is called "a cultured and savvy Downtown agent," while Rutenberg agent Douglas Heddings is billed as "Mr. Westside." Amanda Brainerd, an executive managing director at Warburg Realty, is "an uptown co-op expert with a focus on higher-end properties."
"I thought it was a wonderful idea," Brainerd said of the site. "I thought it was a way that potential clients could look at several testimonials from different people rather than just getting a referral from one person -- sort of a one-stop-shop for referrals." Of course, the site's selectiveness is likely to be controversial among agents who are not included, especially if the venture is successful.
"The more of a success it is, the more hurt feelings there will be," Brainerd said.
But Braddock makes no claim that the site is exhaustive, and said agents can ask to be considered for inclusion.
"It would be impossible for us to know everybody," she said. "The more people that present themselves, the better."
The site will eventually top out at 200 Manhattan agents to maintain its exclusivity, Lee said.
Braddock and Purcell may also field accusations of bias because they themselves are the heads of a real estate firm.
There are five Rutenberg agents on the site. Braddock said there isn't a conflict of interest because of Rutenberg's business model, in which the firm makes its money on monthly fees rather than commission splits, receiving only $1,000 to $2,000 for each transaction.
"We are not financially incentivized to do a deal [with] a Rutenberg broker," Braddock said, because each transaction fee is "a very small amount of money." She added: "I couldn't do this business this way if we were a traditional firm -- I would be sort of double dipping."
Brainerd said while she likes the idea of the site, it's unlikely to become gospel overnight.
Much like the Zagat's restaurant guide, "you take into account what's in the pages, but you also listen to friends," she said. "It's just one more resource for buyers and sellers."
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Comments
Anonymous
All REBNY members. Another bull website....
Comment #1 Posted By: Anonymous 11/16/09
Anonymous
It's very sad that the buyers going to this website will have no idea that the agents pay topagentguide.com a 30% referral fee so would an agent really provide the performance they are advertising to a buyer where they pay a 30% referral fee or to a buyer they are not paying such a referral fee to. Answer is buyers and sellers who come recommended without realtor-referrals usually receive better service.
Comment #2 Posted By: Anonymous 11/16/09
Anonymous
no worries this concept just wont work out, people look at properties and call the agent representing that particular property, nobody is looking for an agent, who cares, this is not North Carolina where such things work, in New York city, people want result 1,2,3 they see a property they like and will call that agent, buyers arent going to devote time to even look at this nonsense website and i have been in the internet game since 1994 and I can tell this just wont work sit back a watch, people like to look at content if a buyer is looking for property they go to a website that has properties no to look at these agents praising themselves, I am honest, I am good, I love people, I am great, I was agent of the month, I've been in the biz 20 years, WHO CARES PEOPLE
Comment #3 Posted By: Anonymous 11/16/09
Anonymous
# 3 bullseye, this is just another atemtp by these people to make a quick buck, I also must point out that the rutenberg website agents link is full of names with no content on it, no listings no bio no nothing, the majority of those agents either have left the business since and their name is still up on the rutenberg site or these agents realized 100% of nothing is still 100% of nothing and moved on to real companies
Comment #4 Posted By: Anonymous 11/16/09
Anonymous
Braddock + Purcell totally practice favoritism. In their 'off line' consultancy, they supposed to have recommended 3 agents for the buyer/seller to choose from. One out of 3 agents would be a total favorite. However, I only found that out after completely wasting my time with 10+ referrals, they were literally steered to those 'other' agents.
Comment #5 Posted By: Anonymous 11/16/09
Anonymous
Ruttenburg is a total joke. They claim they have 200 brokers, meanwhile their is on the third floor of someone's house and they have to buzz you in.
Comment #6 Posted By: Anonymous 11/16/09
Anonymous
Well I dont know them that well but you can see a fake when you see one and kathy is a fake she gives you a forced smile you know when you get that hypocrite smile vibe of someone she has that vibe
Comment #7 Posted By: Anonymous 11/16/09
Anonymous
oh please nobody trusts any of you
Comment #8 Posted By: Anonymous 11/17/09
Anonymous
I think that NYC needs a site just like this.
Comment #9 Posted By: Anonymous 11/17/09
Anonymous
Buyers and sellers need a better way to find a great agent. Most people dread the thought of picking an agent. Now maybe they will have a better experience.
Comment #10 Posted By: Anonymous 11/17/09
Anonymous
I am a Rutenberg agent. You have no idea what you are talking about. I have made so much money here and I love working with Paul, Kathy and Mike.
Comment #11 Posted By: Anonymous 11/17/09
To the poster who thinks agents that get referrals do a bad job--I build my business on referrals and always give my clients 100%. I like getting referrals and want more.
Comment #12 Posted By: 11/17/09
Anonymous
About time there was something like this website. I've always wondered why there wasn't something like this. But I bet there will be a TON of agents that weren't selected posting negative comments ;-)
Comment #13 Posted By: Anonymous 11/17/09
Anonymous
Brilliant idea!
Comment #14 Posted By: Anonymous 11/17/09
Anonymous
I am also a Rutenberg agent and I have no idea what that person is talking about. We have over 300 agents and a great office. Come see for yourself.
Comment #15 Posted By: Anonymous 11/17/09
Anonymous
To #2, the type of agent who would not work as hard for a referral as they would with someone who has not been referred clearly would not be a good fit with this website. This is a great idea -- now there is some openness and accountability with the real estate game. If someone works with an agent on the website they can post a review of them -- good or bad. Do you think an agent would half-ass it if they knew a poor review would be posted? This is a good thing for any agent who is experienced, professional and knowledgeable.
Comment #16 Posted By: Anonymous 11/17/09
Anonymous
This is just the type of site a consumer needs to work through the maze of hype and puffing about agents that is constantly beening broadcast and find a professional. Just how important this is can be seen by the negative comments of sad agents who apparently and obviously couldn't make the cut for TopAgentGuide.
Comment #17 Posted By: Anonymous 11/17/09
Chris
I agree. There seem to be a lot of angry and bitter agents out there... which provides further proof that a site like is necessary.
Comment #18 Posted By: Chris 11/17/09
Anonymous
Time will tell but I think a buyer who really is an time constraint will not have the time to go to a site that has no listings and click on faces of people that are self promoting, put simply SHOW ME THE MONEY, no listings? GOOD BYE!
Comment #19 Posted By: Anonymous 11/17/09
Anonymous
I hardly have time to select my underwear in the morning I wont be selecting botoxed faces
Comment #20 Posted By: Anonymous 11/17/09
Malcolm Carter
I switched to Charles Rutenberg Realty from a big "corporate" brokerage to which I could trace no business in two years. It was the best professional decision I have made to date, and my experience with Rutenberg, Braddock and Purcell has been not only positive but over the top.
Comment #21 Posted By: Malcolm Carter 11/17/09
Anonymous
I think this will be helpful to a lot of people. There are so many bad agents out there....so many
Comment #22 Posted By: Anonymous 11/17/09
Anonymous
nobody cares.
Comment #23 Posted By: Anonymous 11/17/09
Anonymous
This is a waste of cyberspace.
Comment #24 Posted By: Anonymous 11/17/09
Anonymous
i am proud to have been chosen and i love paul purcell marie
Comment #25 Posted By: Anonymous 11/17/09
Anonymous
Mr. Purcell and Ms. Braddock are wonderful people on a personal level, but I question their business decisions.
Comment #26 Posted By: Anonymous 11/17/09
Anonymous
Kathy Braddock and Paul Purcell are the epitomy of professionalism. In addition, they possess the moral attributes every buyer, seller and broker would want. This is an excellent source for buyers and sellers.
Comment #27 Posted By: Anonymous 11/17/09
Anonymous
I am a Rutenberg Broker...I came from a traditional firm....I gave so much money back to that old firm for practically nothing in return!! Guys stop complaining and do something innovative!!
Comment #28 Posted By: Anonymous 11/17/09
Anonymous
Sorry to the Brokers who did not get chosen....brush-up on your customer service skills and become more professional, maybe you will be nominated after further self-evaluation..
Comment #29 Posted By: Anonymous 11/17/09
Anonymous
Interesting how many feel threatened by this. Must be a good idea. Cudos to the folks behind it and to Braddock/Purcell for thinking outside the box (again) in a business that is SOOOO narrow-minded!!!!!
Comment #30 Posted By: Anonymous 11/17/09
Anonymous
Wow, amazing how much time people have on their hands. This is simply a great tool for buyers and sellers. Let's move on.
Comment #31 Posted By: Anonymous 11/17/09
Anonymous
I came to Rutenberg almost from the launch...these people, Paul Purcel, Kathy Braddock and Mike Barbolla are a JOY to work with....I am thankful to them for dramatically increasing my "take-home" split!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! of commissions!
Comment #32 Posted By: Anonymous 11/17/09
Anonymous
Rutenberg is the fastest growing firm in the city, get your facts-straight! We have almost 300 agents!
Comment #33 Posted By: Anonymous 11/17/09
Anonymous
Rutenberg Agents really do keep 100% of the commission...why would you work anywhere else?
Comment #34 Posted By: Anonymous 11/17/09
Antoinette
Glad that additional professionalism and objectivity is brought into this indistry. Hope that TopAgentGuide is so successful it can expand outside of Manhattan as well.
Comment #35 Posted By: Antoinette 11/17/09
Anonymous
This is a great idea and of course any agent who has no chance of being selected is bound to be jealous. And it isn't a 30% referral either by the way--whoever said that should get their facts straight.
Comment #36 Posted By: Anonymous 11/17/09
Anonymous
Will be short lived, just another way for Braddock and Purcell to keep the referral fees flowing to them. I would guess their relocation referral business dried up after "leaving" Douglas Elliman.
Comment #37 Posted By: Anonymous 11/17/09
Anonymous
This is a great way for buyers/sellers to get a glimpse of the brokers they'd be interested in working with. Great idea!
Comment #38 Posted By: Anonymous 11/17/09
Anonymous
I am on this list and I know how carefully TopAgentGuide went about selecting these 100 agents: they did so by asking their fellow agents to recommend the colleagues they respected most for their professionalism, integrity, reputation in the business and effectiveness. These selections, thank goodness, are not based on inflated sales numbers or on the artificial “social fame” of the broker. Ayone who knows anything about our business knows that being a “famous” broker is almost never synonymous with great service. In addition, to getting endorsements from colleagues TopAgentGuide went out of their way to do extensive research on each and every agent selected by speaking to at least 10 recent buyers/sellers and collecting feedback. As to the referral fee they collect this is standard in the real estate business. The creators had a brilliant idea to offer a great guide and deserve to be compensated!!!! What did we expect them to do? Do it for free??? All the negative comments are fuelled by jealoucy!
Comment #39 Posted By: Anonymous 11/17/09
Anonymous
300 agents?? Just click on the agents link and see for yourself how many of these "agents" actually do exist, half of those 300 dont have a photo, no bio, no listings, no nothing, I wonder if they even exist or make a living of real estate of the remainder they may have one fake listing with no address, no photos no nothing, I can have a website to with 300 faces that ready NO PHOTO, get real people, 100% of nothing still nothing
Comment #40 Posted By: Anonymous 11/17/09
Anonymous
TopAgentGuide.com will be a valuable resource to buyers and sellers looking to get the best service and professionalism from a broker. New Yorkers are sick and tired of the lack of quality agents in the city who offer very little value-added service for the large commissions they charge. The best agents do well because they are professional and offer value added service to their customers. However, there are many unprofessional agents who do not provide the best service. This website will help narrow the field to those who are truly deserving to earn their commission. I expect many brokers who do not make the cut to complain but perhaps there will be a way agents can be added or dropped based on customer feedback. It is always refreshing to see an alternative to business as usual in the collusive business of real estate brokerage in NYC!
Comment #41 Posted By: Anonymous 11/17/09
Perry
This is an excellent resource for the buyer and seller who needs to find a good real estate agent. I am honored to be selected, and I will continue to do the best job possible to merit inclusion.
Comment #42 Posted By: Perry 11/17/09
Anonymous
#39 If you are on the list why did you comment anonymously ?
Comment #43 Posted By: Anonymous 11/17/09
Looking_To_Buy
This is a great idea! BRAVO, its about time New Yorkers! There's a reason why this service was created...good NYC real estate agents are hard to find. Have any of you ever worked with a NYC real estate broker? Its a hit or miss! I've been looking to buy now for 8 months and 80% of the agents out there are terrible. The goods ones are like finding a needle in a haystack! I'm looking to buy and looking forward to using their service!
Comment #44 Posted By: Looking_To_Buy 11/17/09
Anonymous
referral is 25% not 30% get your story straight. industry standard.
Comment #45 Posted By: Anonymous 11/17/09
Anonymous
This site seems to be a breath of fresh air in what is a complicated and sometimes deceiving industry. I had a chance to browse the website and it is comprehensive and accessible. I appreciate that the agent profiles are a detailed combination of personal reviews and statistics. I look forward to finding an agent to sell my home through this site.
Comment #46 Posted By: Anonymous 11/17/09
Anonymous
100 or 200 top agents - well that equals 6800 or so not so top agents. The public will use this service if they find out about it just like they used Zagats because the public is a sucker for being told what's good. But, it also sounds as if Braddock and Purcell have backed up their rating with research. Since I can see that there are many brokers out there who list properties as closed that were never closed, or closed at prices that clearly were not the recorded price, I'd say a little objectivity for the consumer to use as a welcome at a time in the market when confidence in brokers is near a low point. Just read some of the posts here or on Curbed. I for one just figure I'll contact them and try to get on board what sounds like a good platform. Why sink a ship when you can go for a cruise on it?
Comment #47 Posted By: Anonymous 11/17/09
Anonymous
Well, It's obvious there are a lot of sour grapes out there. Maybe that is one more reason to have a Top Agent site is to rule out the nasty, negative and enviously driven in the profession. What a great concept for the consumer to have a resource to evaluate and to be educated before making one of the most costly and emotional decisions of one's life. At least if the comments were accurate there would be some reason to be skeptical, but I am not even in the business and I am so glad this site exists!!! Let's keeps things honest and try to respect the agents who have been chosen !
Comment #48 Posted By: Anonymous 11/17/09
Anonymous
I need a home and I am trying to decide who to hire in this website, I am torn between the one that calls herself the luxury condo Queen but I also love the one that says she is the top agent in her office but I kind of like the one that says that she is very honest and that she loves people, I mean I love it I just simply love it, decisions ……..decisions
Comment #49 Posted By: Anonymous 11/17/09
Anonymous
Well I am a sucker for accents, I was going to hire the cute ex flight attendant with the spanish accent, but when I saw the cute guy with the British accent I was immediately sold, show me the contract and I sign without a contingency
Comment #50 Posted By: Anonymous 11/17/09
Anonymous
Boring! Brooklyn rocks. These stories in Manhattan are starting to make me y-a-w-n tired.
Comment #51 Posted By: Anonymous 11/17/09
Chris
Hi, as the owner of the site refrenced, rateyourbroker.com I would like to share with all that the site will be 100% by the end of the week with additional new resources for finding no fee apartments. I am a renter and have been for the past 5 years, I have no ties to brokers or management companies. Check us out!
Comment #52 Posted By: Chris 11/17/09
Anonymous
As the owner of Themasteroftheuniverse.com I would like to share that I will own this planet by weeks end
Comment #53 Posted By: Anonymous 11/18/09
Anonymous
Michael Shvo is working on his metopagenthireme.com he will be the only choice, how do you like them apples
Comment #54 Posted By: Anonymous 11/18/09
Anonymous
Dolly Lenz just posted that red sign next to the article above and she claims this new top agent site wont stick, I happen to agree with her. I think this is nonsense
Comment #55 Posted By: Anonymous 11/18/09
Anonymous
I went to topagentguide.com to check out why the cat claws are out and I can see why brokers are threatened. While the site looks only about 65 - 70% completed, the streaming quality of the videos and the pertinence of the information provided about each agent is much less hype than, well information. I think the Zagat's comparison is wrong, because there are not any 'bad agents' in this lot. The ego queens for the most part are missing from the selection and the brokers actually come across as though they have some inkling as to what their job is. Also, this site is not asking the public (or jealous business competitors) to anonymously pile on, rate or slam brokers. From the way the site is constructed it appears that Lee is the brains on the web side and that the construction is carefully researched as if this guy wants to be not only flame proof but on the legal high ground if he wants to go after some of the cowboys out there who fancy themselves web assassins. I'm sure Dolly and Shvo and their ilk won't even notice this site, it's not about them or what they're about at all as it has actual content. As a woman and a New York real estate attorney whose practice has been in the area of representing buyers and sellers of apartments for four decades, I can say that I've done deals with about half the agents here and they were all professional and a far cut above the average licensed salesperson.
Comment #56 Posted By: Anonymous 11/18/09
Anonymous
If Dolly went out of her way to bad mouth this idea, she must be half-way threatened by the concept and by Braddock and Purcell. Dolly thinks it's all about 'friends' - I guess that's why she rented booths in Bangkok to hype block buys in NY condo towers. This is now increasingly a web-driven business, and if I'm choosing a broker, a lawyer, or a nanny I check the blogs, Google, and my network. One thing we can be sure of, Dolly's not getting a piece of their action or she'd be saying they were the second coming. She's always so factually bound and restrained.
Comment #57 Posted By: Anonymous 11/18/09
Anonymous
blogs and successful websites remain and stay on top because of content, value and service. A place offering self promotion will not survive, self promotion and self agrandazing in this manner repels thats why individual agent site never made it to the top because it was a forum that buyers detested, companies sites is where the meat lives, time will prove this to be correct
Comment #58 Posted By: Anonymous 11/18/09
Anonymous
I worked with one of the brokers on the site, and the experience was awful! However, it is amusing to see a site that consists wholly of pontificating, holier-than-thou narcissists. I can't wait for Saturday Nite Live to do skit on these self-aggrandizing a**holes!
Comment #59 Posted By: Anonymous 11/18/09
Anonymous
What Lee should do next is start a website that rates Starbucks baristas. This would be as relevant as this stupid site!
Comment #60 Posted By: Anonymous 11/18/09
Anonymous
The videos on the site are amazing. They bring the brokers to life! So cool....kudos to you guys.
Comment #61 Posted By: Anonymous 11/18/09
Anonymous
Sesame street brought Miss Piggy and Kermit back to life too
Comment #62 Posted By: Anonymous 11/18/09
Anita Filice
I would like to join this service. I am a broker with the Halstead Property Company.
Comment #63 Posted By: Anita Filice 11/18/09
Anonymous
Paul Purcell and Kathy Braddock are geniuses
Comment #64 Posted By: Anonymous 11/20/09
Anonymous
I am a NYC broker and have had zero luck in ever showing a Rutenberg listing. They don;t return calls nor do they allow access when they do.
Comment #65 Posted By: Anonymous 11/20/09