The Leiter Realty Group Story
How Massive Frustration with Most Real Estate Salespeople Turned a Pro Investor on a Mission to Change the Way the Business is Done
David Leiter, the Broker-Owner of Leiter Realty Group, started in the real estate business in 1997 as an investor in small residential and mixed-use buildings, Coops, and condos. After years of successful investing for himself and partners, an interesting turn of events took place.
In 2005, the market was topping and great deals were hard to come by. Interestingly enough, this was the same time that much of the hype in the condo market was heating up. So instead of continuing to invest at high prices, Leiter decided to use an empty storefront that he had in prime Williamsburg, Brooklyn, and opened Leiter Realty Group to participate in the transactions of others, study deal flow, and wait it out until the market calmed down.
After being "turned-off" by virtually all real estate salespeople he met while looking at 100's of properties over the years, he decided to take this opportunity to bring a different approach and attitude to the business.
"People dislike real estate salespeople because they usually come across as just pushy and trying to get a deal done to get paid, with little concern about the needs of their clients" says David. "On top of that, I've found over the years that most salespeople didn't really know what they were talking about. They had a bunch of textbook closing techniques and they added very little value, which was frustrating to deal with" he continues.
"It's so easy to set yourself apart in this business because the standard is so low. You only have to go to school for 45 hours to get a real estate license (although this has changed recently to 75 hours), so really anyone can get into the business and the fact is that, especially over the past few years, this has attracted a lot of people into the business just to make a quick buck. One of the benefits of this downturn is that the weak salespeople and firms will get washed-out, and only those who are really committed and are adding value will be left standing."
So Leiter set out to do the business the way he always wanted real estate salespeople to treat him. This meant listening to people and helping them find what they want to achieve their goals by using innovative and time-tested marketing techniques and expansive knowledge of all things real estate related.
"Leiter Realty Group is really a specialist in marketing," says David. "We understand what buyers want by studying and listening to what they are telling us. We focus on a few different types of properties and are not trying to be all things to all people. We turn away business that we don't think fits into our speciality."
One area of specialty has been rentals and sales in Williamsburg, Brooklyn. LRG's Williamsburg office is located on Grand Street, in prime Williamsburg, with some of the best restaurants and the Paul Smith sale shop located on the same block. "Because of our strategic location here, and our web presence which consistently drives massive traffic to our site (top ranked on Google searches for Wiliamsburg Brooklyn Real Estate Brokers and Property Management), we end up involved in a lot of rental and sales transactions locally."
The other specialty area of Leiter Realty group has been in their fast-growing Property Management business which is growing at 10-15% per month.
When it comes to Property Management, David approaches the business from an Owners perspective, because that's what he was and still is.
"I know the concerns of Owners to keep costs down and maximize income, and that the last thing Owner's want is a Property Management company lining their pockets off their hard work and investment," David says. "This business is seriously lacking in skilled and competent people. especially for smaller condo and rental buildings. We are educating owners through cutting edge technology, and more effectively communicating with owners in Condos, Coops, and with Renters in these types of buildings, so that things get done and costs are low for the Owners."
"My background as an owner helps us oversee the many construction problems that buildings are having and we are able to effectively solve these issues for less money. Sometimes, we are solving issues in weeks and months that have been lingering for years"
David continues, "My background was in investing and property management, and I had owned many Coops over the years. I was (and I'm still am) on the Board of Directors at a Coop and have 9 years of Board experience. I understand Condos and Coops and how they work."
Leiter Realty Group is a full-service Real Estate Brokerage specializing in Property Management of Condominiums (especially new construction) and the sale and rental of all types of properties.
OUR MISSION IS TO HELP PROPERTY OWNERS SUCCEED!
As a REBNY listing service (RLS) member, Leiter Realty group has access to every REBNY RLS listing in New York City for Condos, Coops, Houses, Investment Properties, Mixed Use, and Multi-Family properties and Rentals to make sure that you have full access to the market, whether selling or buying a property.