Need Help - Unexperienced Realtor Working With Luxury Apt Developer
Hi everyone,

I had nowhere to turn to about this so here I am on this thread. I'm a realtor in NYC and was recently given an opportunity to interview with a developer and architect trying to build a luxury condo building in Hell's Kitchen within the next few years. After the meeting ended, they shook my hand, said it was a pleasure meeting me, and asked me to send them my proposal by the end of the week.

Only problem is... I have absolutely no experience working with something this big. Working with developers and real estate that doesn't exist yet is a whole realm I have never experienced. To top it off, I am not a local Manhattan agent and I primarily work in Queens and Long Island. I only have experience selling individual residential homes and apartments ranging from $300K-$2M. The developer told me that if we agree to a partnership then I have to efficiently fill all the units within the building, which is approximately 15-20 units. Based on their projections, we're assuming each unit will be selling well over $1M each.

You may think that it's a smart idea for me to not pursue this and simply tell them that I am not local or knowledgeable on this matter. However, I can't stop hearing that one quote in my head by Richard Branson: "If somebody offers you an amazing opportunity but you are not sure you can do it, say yes - then learn how to do it later!" I know that this opportunity is a once in a lifetime one and I'm too stubborn to quit on it. I would at least like to shoot my shot - what's the worst that can happen? They say no?

So in conclusion, can anyone direct me with any tips or references that I can utilize to create this proposal? Can anyone who has experience working with big-time developers and architects help me with marketing tactics that I can utilize for this project? I'm not sure how to approach marketing non-existing/potential real estate. What are ways that I can sell and expose these units outside of conventional ways like referrals, cold-calling/emailing, social media, etc.?
[{"id": "inrh187", "text": "A couple of things done in my market and I'm sure others are creating a website tailored specifically to that development. Also presentation centers are almost always a part of pre-sale marketing here. Rent an office or retail space, have models of the development as well as brochures, floorplans, etc. Sometimes I've seen full scale models of a 1 br apartment that will be in the development so prospective buyers can get a feel for the place. this is not my area of expertise but hope that helps.", "replies": [], "depth": 1}, {"id": "inroldw", "text": "Hire local agents to help you. Basically build a team.", "replies": [], "depth": 1}, {"id": "inrqiot", "text": "Well first of all, I would go for it.... You have nothing to lose.  Quit trying to talk yourself out of it.  \n\nSecond, go find a successful agent/broker and see what they are doing on a similar type project.  Model your proposal towards what they are doing.  In addition come up with something unique to add in.  If they know you are inexperienced and you feel confident about the project then I would also go in with a lower fee arrangement.  Ask them to give you a chance and share why you are so passionate about it.\n\nIf you fee completely overwhelmed then go find a successful realtor/broker with a reputation to partner.  They bring the name, experience, and ability to land the client and you bring the deal and worth ethic to get it done.", "replies": [], "depth": 1}, {"id": "insgi9e", "text": "I have no advice other than ask for help! But good for you for going for it! Def scary but if it works out!!!!!", "replies": [], "depth": 1}, {"id": "insh89h", "text": "Partner with someone who has a track record of success with this exact product. Pay a lawyer to draft and review a suitable agreement and compensation split.", "replies": [], "depth": 1}, {"id": "inshgso", "text": "Fake it till you make it", "replies": [], "depth": 1}, {"id": "intibm4", "text": "Are you on a team / are there agents from your brokerage who are experienced in new dev and/or work in the neighborhood? \n\nDon't waste the opportunity to learn a new part of the business and make some money while doing so - build a team that can put together this proposal and work the project together. \n\nDeep end learning is the best learning I've done in NYC real estate.", "replies": [], "depth": 1}, {"id": "intusal", "text": "You need to reach out to an agent that can partner with you ASAP. Also next time someone gives you a deadline, you have to stand your ground and be in control of the situation and let them know, the time given is not enough for me to adequately present that to you. Let me follow up with you this week and I\u2019ll give you an estimate. \n\nThis way they respect your authority, integrity and your controlling the tempo. Working with a developer VS a regular investor who flip units or homes is different. In terms of how you want to market and brand the entire building. Whose your audience that will buy the unit, and how you\u2019ll let all the brokers know about this building. Bc 90% of the time the buyer is coming from a realtor. So most likely your marketing it to a realtor. \n\nFor this being your first deal, you have to maybe sit this one out and let a pro team come in. Yes you might lose majority of the commission but it\u2019s better then getting 0 and learning 0. Maybe you can work things out with that team to be a part of the listing who knows. But developers can search for top brokers easily on google and once they notice your a small fry and winging it your going to lose the deal. \n\nAs a investors my self, I\u2019m ruthless but kind. I\u2019m responsible for my investors money, time and years of building trust that they are in good hands, to trust my judgement and hire the correct people to give me guarantees. So if your not going to bring your A-game or have someone come in that can take the lead, you won\u2019t earn my business. \n\nLastly, make sure you come from value and care. The moment they see you care more about them and their goals the more you\u2019ll be picked. It amazes me how people don\u2019t see how they come across and they wonder I don\u2019t know what happen? My pitch deck was amazing and I practice for 2 weeks. And my numbers and blah blah was on point. ~~~ no it was the presentation it was *you*", "replies": [], "depth": 1}, {"id": "inv30yh", "text": "So you need to sell 20 pre sales in 2-3 years. I know it can be intimidating but you got this. No one knows you're experience level but you.", "replies": [], "depth": 1}]