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Developments swap brokers to boost sales.

Byline: Amy Tennery

From the July issue: Several new developments have changed marketing teams in recent months, reviving the debate about whether marketing or prices are to blame for lackluster sales. Among the high-profile buildings switching brokers was BellTel Lofts, the Downtown Brooklyn development, which decided to drop the Bracha Group and go instead with fellow Prudential Douglas Elliman agents Michael Ettelson, Mordy Werde and Nishila Mustafa, as The Real Deal first reported. Developer JJ Bistricer said the decision was made because of the other team's experience in Brooklyn. While developers presumably make these swaps to boost sales, Noah Rosenblatt, founder of brokerage and real estate analysis group, said that this strategy doesn't always work. Often, Rosenblatt said, there are other problems. [more]
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Author:Tennery, Amy
Publication:The Real Deal
Date:Jul 7, 2010
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