The Real DealThe largest brokerages get pricier listings, more agents
June 4, 2012
Nest Seekers expanded by 47 percent to 308 agents and jumped two spots to No. 8. The firm has benefited from executive vice president Ryan Serhant’s transformation into a reality television celebrity. As a cast member on Bravo’s “Million Dollar Listing New York,” which was recently picked up for a second season, Serhant has generated an uncommon amount of publicity for Nest Seekers.
Ravi Gulivindala, a managing director who oversees training and recruiting at Nest Seekers, estimated that about 20 percent of the firm’s new agents have come on board since MDLNY episodes started airing in March. He said the show, which also features Elliman brokers Fredrik Eklund and Michael Lorber, has brought cachet to the industry.
“It’s like Wall Street was a number of years ago,” Gulivindala said. “Now, Wall Street — there’s a certain disdain for that.”
In contrast, he added, “real estate is sexy.”
The 10-year-old brokerage has parlayed the increased exposure into pricier listings, according to TRD’s research. The dollar volume of the firm’s listings has jumped 90.1 percent in the last year to $252 million, even as its number of listings fell 13.1 percent to 86.
The sparse number of listings is the result of brisk sales at the firm, as well as the lack of new residential development, said Gulivindala. Two new projects about to hit the market — one on the border of Gramercy Park and another on Manhattan Avenue in Harlem — will add an additional $36 million worth of listings to the firm’s total, he said.
In September, Nest Seekers opened a new 30-agent office on the Upper West Side, followed by an expansion into Williamsburg. And last month, the firm tapped Serhant to head up a new 2,000-square-foot Tribeca location, which will accommodate up to 35 desks when construction is completed.
“I think they’ve gotten their name out there more,” Elliman CEO Dottie Herman said of Nest Seekers. “Will they hit the next level? I really couldn’t tell you.”
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