Many in Manhattan and throughout the New York City metropolitan area have heard of TOWN Residential, and quite a few have already had the pleasure of working with this firm. This is a highly reputable real estate firm that was just founded a few short years ago in 2010, and the company’s founder, Andrew Heiberger, made the decision to brand the company as a luxury residential real estate firm. While other real estate firms may cater only to the rental market or may try to appeal to the masses, Heiberger’s approach at selecting a niche in the market seems to being paying off. In fact, with a closer look at how the company has progressed over the last few years, you will see that it is thriving.
The Growth of a Real Estate Firm
One might think that focusing on such a narrow section of the real estate market would be a death sentence. In fact, TOWN Residential was founded at a time when real estate market conditions were tight, including tight lending requirement and adjusting market values. The luxury market appeared to be a risky niche to focus on, but Heiberger wanted this challenge. The fact is that there are more then 29,000 buildings in Manhattan alone, according to Heiberger. This provides ample opportunity for the company to specialize in. The good news is that specializing seems to have paid off.
The Basis for Significant Growth
Clearly, the strategy of focusing on the niche luxury market in Manhattan has been working for TOWN Residential, and there may be several reasons for this. TOWN focuses on serving the clients’ needs, and because of this, it focuses on both luxury real estate sales and rentals. More than that, it is not known for being cut-throat with competitors. In fact, it looks as competitors as collaborators who they share their commission with on each transaction.
Certainly, the market in Manhattan has been excellent, Andrew talks about that on Twitter and this may also have been a contributing factor for the company’s success up to this point. However, with a strong leader at the helm and with a team of focused, service-oriented agents working for the firm, it is likely that the success of the company will continue on.
Make sure to hit him up on Facebook, or at least check out what his company is doing.