REBNY Residential Broker Survey Highlights

REBNY (Real Estate Board of New York) released it's 2nd Quarter Residential Broker Survey.

Full results of the survey are located at www.rebny.com.

Residential Survey Highlights 2Q11

· 77% of brokers reported closing rental transactions at or above asking rent. This is 16% more than last quarter.

· 13% more brokers reported closing rental transactions in 2Q11 than last quarter. And 4% more than 2Q10.

· In 2Q11 10% more brokers reported closing sales at or above asking price compared to what brokers reported 2Q10.

· 4% more brokers reported closing sales this quarter than last quarter.

· Of the brokers who responded 46% of them believe that this quarter was better than last quarter.

· Of the brokers who responded 38% expect next quarter to be better than this quarter.

· Of the brokers who responded 39% believe that the residential market will be the same next quarter as it was this quarter.

· 59% of brokers reported using Neighborhood names (ie DUMBO, FiDi, SoHo, etc…) when marketing their properties.

· 40% of brokers reported that they found clients more responsive to properties using neighborhood names compared to properties that did not use neighborhood names.