Watch videos with subtitles in your language, upload your videos, create your own subtitles! Click here to learn more on "how to Dotsub"

What's Up New York 'NestApple', disrupter le marché immobilier 22 05

0 (0 Likes / 0 Dislikes)
With Sabrina Quagliozzi, in live from New York, good evening Sabrina how are you? good evening Sebastien Sabrina let's talk about real estate today indeed, a start-up breaking the rules of real estate, the "Uber of Real Estate" Georges Benoliel, founder of NestApple. Explain how you want to disrupt this market Let's go over the 2 differences between the French and the New York Market Firstly, the U.S. market and especially the New York market is transparent You can look up the purchase price of your neighbor's apartment, if he tried to sell, if he has a mortgage, if he did any renovation. By looking up somebody's name, we can see what real estate he owns incredible, Georges, you know everything about your neighbors, this is very specific of New York absolutely, the price per sq. ft. of all the apartments of a building is roughly the same when they trade so transparency is 100% in parallel, in France, to sell a home you give a mandate to a local agency which will sell to its local customers in New York, the model is dual as the seller is represented by a broker and the buyer also has his broker Why do we have 2 brokers on such a liquid market ? Where a buyer and a seller could transact Each broker gets paid 3% so the total is 6%. If a buyer comes unrepresented, the seller's broker will charge 6% regardless Our idea: we represent buyers. They can search on their own and if they see something they like, they call us, we will be their broker we will do the work for you, we will coach you and negotiate for you and at closing we will pay your back the broker's commission minus our fee let's talk numbers: on a 2 million dollars apartment this is the average price this is the average transaction in Manhattan, we will receive $60,000 and pay back $40,000 to the buyer the buyer gets back 40,000 bucks? Yes! The buyers gets a rebate of 40K$ on the purchase price .We are talking about pretty significant amounts this is legal, we got approved by with the Dept of Justice and the Attorney General, and this is tax-free. Everything goes to the pocket we launch this company on June 1st. We are already getting phone calls and our first closing took place 10 days ago people call us "I would like to buy this apartment, I am a friend of Sabrina, can you place a bid for me" Bottom line: on the price of an apartment we will charge 1% and pay back 2% to the buyer. Georges where does this name come from ? "NestApple"? Nest means "nid", like a "nid d'amour". "Apple" because Manhattan is the "big Apple" and there are various plays on words "nest eggs" for retirement, "nest birds" in a casino. And the ultimate test: when I explained the concept most of the time people would not remember the name after 10 minutes until we found "NestApple", everyone remembered it so we decided to keep it You are going to upset all the realtors? Yes we are going at war! it will be a real war with them! And you are not scared at all? If we upset people it means we are innovating: look at Uber and Airbnb they did upset their competitors All this and you are not even a realtor? My wife IS a realtor ... and an attorney I am not a realtor myself by I created the company with my wife. She is a lawyer The State of NewYork grants a real estate license to attorneys which we used to launch this business We are filing for Connecticut and New Jersey and this authorization to pay rebates is legal in 40 states out of 51 so there is a nice potential for you guys you start on June 1st, you work all summer, no vacations for you, no Bahamas and you come back in September with pleasure! Thank you to both of you Sabrina and Georges tonight for NestApple If you like innovation start-ups and entrepreneurs stay with us we will be back shortly

Video Details

Duration: 6 minutes and 9 seconds
Country:
Language: English
License: Dotsub - Standard License
Genre: None
Views: 4
Posted by: benolielgeorges on May 26, 2017

we present NestApple on BFM - cash back for buyers and tenants in New York

Caption and Translate

    Sign In/Register for Dotsub to translate this video.