From the July issue: Manhattan’s elite residential brokers aren’t just going after the most expensive listings to stay on top. They’re also recalibrating their business models to include a wider range of clients in a rapidly changing market.
In some cases, agents have also jumped to new firms to stay ahead of the much-discussed softening in the luxury sector.
Overall, The Real Deal’s annual ranking of Manhattan’s residential agents found that the Top 75 brokers held a combined $12.5 billion in listings this year, compared to $12.2 billion last year. But that dollar volume represents a bigger jump than it seems at first blush because this year TRD excluded in-contract properties. Whether the higher dollar volume tally means more deals — or more languishing listings — varies depending on who you talk to. [more]