True Gotham

That's Charles Rutenberg Realty and I promise you that you will be hearing much more about this already successful brokerage that highlights each agent's ability to build their own brand and identity while shattering the traditional brokerage mold!

So here is why the blog posts have been so light lately...The past several weeks have been insanely busy as I have focused on my buyers and sellers while simultaneously planning and implementing a new business plan for The Heddings Property Group.  Still not much time to blog but I'm very excited about the coming days and weeks as my new office on the Upper West Side has become a reality and my new website will be unveiled early next week. 

Until then, I leave you with today's press release regarding my move.  Exciting times indeed!

NEW YORK, June 8, 2009 – In a high-profile move that bolsters its reputation for attracting some of the industry’s best and brightest and underscores the success of its unique business model, Charles Rutenberg Realty, (www.charlesrutenbergnyc.com), today announced that Douglas Heddings -- formerly a senior vice president at Prudential Douglas Elliman -- has joined the company.

A veteran top-producer in one of the most competitive industries, Heddings specializes in the sale and leasing of Manhattan residences, having spent the past 11 years at Elliman, where his superior client service skills earned him a variety of industry accolades and placed him among the company’s most highly regarded agents.

“Having a formidable talent like Doug on board is exciting not only to management, but also to our other talented brokers who are aware of his stellar track record within the industry,” stated Paul Purcell who, along with Kathy Braddock, co-founded Charles Rutenberg Realty. “We are attracting the finest brokers in the industry and Doug coming here highlights that fact.”

Purcell continued, emphasizing the exemplary fit between Heddings and the company, “Rutenberg is a model for entrepreneurial spirit and a place where creativity is fostered, two qualities that Doug lives and works by. In fact, as one of Manhattan’s first broker bloggers, and one of the pioneers of using professionally filmed videos to market properties, Doug will be right at home at Rutenberg. His move speaks volumes about where the firm is going and solidifies our status as a firm that is here to stay in New York City.” The company, while only two years old and founded during the heart of the recession, is now ranked within the top ten real estate firms in the city and has become the fastest growing brokerage in New York City.

“I am thrilled to join Charles Rutenberg and plan to rapidly expand upon the four-agent team that will work alongside me, each with their own substantial Rolodex of business and spheres of influence,” said 17-year industry veteran Heddings, who will head up an established brokerage team as the founder of The Heddings Property Group, LLC at Charles Rutenberg Realty. Noting his reasons for his move, Heddings said, “The firm’s unique structure appealed to me because it affords me the unadulterated freedom to build my business as I see fit, including developing my own property website and rewarding my team members at the highest possible level, similar to that of a profit sharing structure. Rutenberg calls itself a broker-centric firm, but it is just as consumer-centric since the fluid business model allows brokers to share their expertise, divulge market data and studies, and work with buyers and sellers on a more personal level. It really is a smart alternative to the traditional real estate experience.”

Explaining the firm’s innovative broker commission structure, Kathy Braddock says, “Our company allows the broker to keep virtually 100% of their commission in exchange for paying $99 a month to the agency and a transaction fee of no more than $2,000 ever. The firm’s business model reduces costly tangible resources, such as vast office spaces and large in-house staffs, in lieu of work stations, a comprehensive listings system and a supportive, agent-focused atmosphere. All of the firm’s brokers have access to my and Paul’s knowledge and expertise since we are unencumbered by the work typically involved in managing a traditional firm and free to focus on the fundamentals of the business, such as helping our agents to be productive and successful.”

“I look forward to building upon my existing team, as well developing and contributing to the growth of Charles Rutenberg’s already thriving business model,” concludes Mr. Heddings.

Congrats, Doug. All the best in your new venture!

I am glad to hear about this you are making a smart move.

Congrats Doug and good luck!

Congrats Doug!

Not one comment? Wow I say Doug I know you are going to do better in Rutenberg. I hope I get to meet you in person. I am not going to lie I think you are one of the great brokers out there. Elliman must be feeling the pain.

Thanks all and i'm sorry to report that we have some sort of glitch here at TrueGotham that has been sending ALL comments to Junk Comments folder. I addressing the issue now and apologize for the delay or lack of comment posts over the past few weeks. It appears it has been going on for some time.

Congratulations Doug!

Hi Doug, Best of luck on your excellent new adventure!

I first heard of Charles rutenberg via streeteasy , at first I was skeptical that they were a special firm, however once they got more high profile and started to post on their website how they were different I began to change my mind a bit,

I am VERY suprised, that DOUG left elliman and joined rotenberg, but I am not astonished,

elliman seemed to be a bit mature and antiquated and not unlike other firms, doug seemed to be more independent with his tools and insight.

I do commend his action because he realizes with the Internet and with places such as forsalebyowner.com its getting more competitive and as such the unique "flat low cost fee" is a great option.

It would be great to see if charles rutenberg is able to keep this model if other firms copy it. One then must retain knowledgeable staff as a team and not be a stubborn broker and be open and have blogs such as true gotham,

Yes real estate is a business but there are exists , and people find agents a bit shady, with the Internet, competition, data, and homebuying and analyzing one needs to keep up with the times not only by simply listing property and using it your advantage but also working to use it to conquer the increase competition.

Time well tell, what happens I want to see how other firms react and how the business plays out, What divines a real estate firm by its name recognition? its knowledgeable staff? or its ability to keep its brokers?

Since real estate is a business, I have to say a lot of the firms seem "monolithic" and just want to sell the property, they offer no services are blogs and ethical advice especially its agents, they are defined as having an office and maybe using marketing and trying to sell you property over-priced and over-valued all the time, not all brokers of course but its still a salesman business.

I wonder what doug things about the future, in all it adds up to just have the office space since it seems monolothic and not exciting these days, maybe its time for brokerages to re-invent themselves and their strategies?