Buyers look for residential property in odd places

Finding a property in Brooklyn, New York, can be a real struggle. In a place where residential property can be exceedingly expensive, it's no wonder that people jump on what they call "unicorns," or deals that seem too good to be true. According to a 32-year-old man who runs a niche blog on the subject of the real estate market in brownstone Brooklyn, "what made Park Slope and Brooklyn areas so popular, when there are other areas where people can buy?" Whatever the reason, people are now turning to his blog to get ahead in the market.

According to the news, this man goes out of his way to find real estate that is not listed with the major brokers like Ellimans or Halsteads. Properties may not even turn up on the websites that show the homes for sale. He posts them on his blog, showing people the deals they may have missed or have a chance of getting. Buyers are allegedly happy to be getting a head start when it comes to buying; the idea that he has some kind of insider knowledge may appeal to readers. He just knows where to look.

According to a woman who read the blog, she has now been able to purchase a home in Crown Heights that suited her and her boyfriend's needs. The information about how they should be bidding was vital, and that's what she claims they discovered though the blog.

This is the same kind of knowledge real estate attorneys or brokers are able to provide, which is why the 32-year-old's lack of a broker's or agent's license isn't sitting well with some people. According to a spokesman from the New York Department of State, the specifics of the operation aren't known, but it would seem that the man is actually working within the terms of a broker's activity. If this is the case, the man would need a real estate agent's license to continue his work.

Source: The New York Times, "In Chaos of Brooklyn Housing Market, Giving Buyers an Advantage" Emily Weinstein, Feb. 10, 2014