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Want Real Estate Without Hassle? Consider a DST

Many people like to round out their portfolios with real estate investments. SEE ALSO ... and cons of using a 1031 exchange to put their money into something called a Delaware Statutory Trust (DST). A DST ownership offers most of the same benefits and ...

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Create an account Home News News by Industry News by Regoin American Europe Arab World Asia Africa Press Releases Submit Your press Authors Register Submit your Articles RSS Market Data Equities Market Global Indices MENA Indices Qutoes & Charts End of Day stocks Currencies Currency Convertor Cross Rates Historical Currencies Libor Mena Stocks Commodoties Oil & Energy Economic Calender MENA Corporate Monitor Research Premium Research Free Research Countries Saudi Arabia UAE Bahrain Qatar Kuwait Jordan Oman Egypt Lebanon Iraq Palestine Syria Tunisia Algeria Morocco Yemen Sections Weather Events Real Estate Financial Glossary AdvimgBanner=0; (adsbygoogle = window.adsbygoogle || []).push({}); This start-up is taking on the New York real estate broker monopoly Date 7/23/2017 4:42:28 AM (function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); = id; js.src = "//"; fjs.parentNode.insertBefore(js, fjs); } (document, 'script', 'facebook-jssdk')); Tweet on Twitter (MENAFN Editorial) New York-based next generation real estate technology and brokerage firm NestApple ( is offering home buyers the opportunity to earn a 2% rebate check of the sale price NestApple founders, Georges and Nicole Fishman Benoliel are long-time real estate investors in New York CityAfter going through the lengthy and costly process several times, they grew increasingly uneasy about the outdated systemWhile most segments of the economy have evolved due to innovation, real estate still operates in an antiquated manner which dates back from the 1980sWhile websites like Streeteasy or Trulia make it easier than ever to search for homes and find comps, nothing has changed in the way people buy and sell real estate In an increasingly transparent market, there is less value in what traditional brokers offer'The market has never been so transparent', says Georges Benoliel, 'all the information is available online, two clicks are all it takes to know what your neighbor paid for his apartment or whether he took a mortgage''The role of realtors needs to evolve and adapt' adds NicoleWhile searching for ways to bypass the system, Georges and Nicole stumbled upon the concept of commission rebates which are legal in 40 States according to the Department of Justice and have in fact been publically encouraged by New York's Attorney General Real estate fees are too high Real estate fees in the U.Sand New York especially are considerably higher than in Europe and represent 5 to 6% of the sale priceThis percentage is then split evenly between the seller's agent and the buyer's agent (2.5% to 3% for each), if not, seller's agent receives the entire commissionNestApple is listening to the marketWhile some brokers sometimes give small discounts, a vast majority of them will not decrease their commission structureNestApple pays back 2% to the buyer at closing which averages $22,000 Benefits for buyers NestApple is a licensed brokerage with an efficient platform which assists clients in placing a bid all the way through closing the deal and everything in between NestApple's founders believe buyers can look up properties themselves; all the information is available online and all you need is a guiding hand and experienced agent to assist you in pricing and negotiatingThe role of brokers has changed and so should the commission they receive'Our goal is to bring sellers and buyers together in a more efficient way, and pass the savings onto our clients", says Nicole Fishman Benoliel Social responsibility NestApple is joining The South Bronx Educational Foundation to foster the development of young kids in the BronxEvery time NestApple closes a deal, the company makes a donation to finance a mentoring program for a kidAs Georges and Nicole believe in corporate responsibility of entrepreneurs and that businesses should play a role in social innovation and engage the local community'Our partnership with SBEF allows us to give back and create a sense of community in our city', concludes Nicole Contacts: Georges Benoliel, CEO 1-855-NESTAPPLE MENAFN2307201700703177ID1095649394 Tags Comments No comment Category Business/Finance Politics Economy Real Estate/Construction Telecom & Tech Date 7/23/2017 AdvimgBanner=0; 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