November 8, 2023
What Up Family?
Welcome to The Edit with Aaron Seawood, a lifestyle letter serving a weekly dose of real estate, culture, and wisdom—all in three minutes or less. Let’s dive in.
Real Estate Remix
Huge Real Estate news dropped last week as a verdict was given in the Sitzer/Burnett trial. The jury ruled in favor of the plaintiffs, arguing that the defendants—which include NAR and several large brokerages—colluded to raise commission rates. The implications of this trial are huge and put commission splits into question, meaning buyers and sellers could contract their payment terms separately. It will be fascinating to see how this plays out.
Here in New York, we were already trending toward this outcome, with RLS decoupling policies slated to go into effect on Jan 1st. I’ve always made pricing transparency a habit by stating costs upfront and letting my buyers know that, in most cases, the commission is sorted upfront with the seller. If we do come across homes where that’s not the case, my buyers are prepared and understand the difference they need to make up—and that’s always factored into the offer. As commissions decouple, I anticipate creativity for financing will come into play—consider seller concessions or financing the commissions. This lawsuit is all about TRANSPARENCY. While the trial has the potential to change the rules of the game, it does not change the game: agents that provide real value need to be compensated for that value and should be fine. If you’re a buyer, seller, or agent and want to discuss how this trial will impact you, reach out to me today.
NYC Insider: What’s Happening This Week
Christie’s is having its Post-War and Contemporary Art Day Sale this Friday, Nov 10th. This season’s auction features work from the iconic masters of post-war art to the innovative artists of the present day. Prominent names who shaped history, art, and culture over the past 75 years will be represented. Think Andy Warhol, Keith Haring, Hans Hofmann, and my favorite, Jean-Michel Basquiat. As a Lifestyle Designer, I love seeing art transform a residence and turn it into a home. Everyone’s style is unique, and watching interiors change over time to reflect a homeowner’s taste is something I’ll never get tired of seeing. Learn more and browse the incredible works soon to be up for auction here.
Weekly Gem 💎
Tear Down That Wall.
How many times have you created an unnecessary hurdle to get to the thing you care most about? For example, as much as I love luxury real estate, I often say, “In my next chapter, I’m going to be an inspirational speaker.” Well, why wait? What’s my reason for not motivating people NOW? I finally had to tear down the wall! My showing up through this newsletter and on social media is proof of that. Sometimes, the hurdle is fear and other times, it’s being unaware that we can pursue our passion right now, regardless of money or resources. The world will be a better place when everyone is doing what they love. (P.S. I just completed my Motivational Mixtape titled GET FREE, set to drop next year—six 🔥 songs with countless heartfelt lessons and wisdom included. Reply to this email if you want to be one of the first to hear it.)
Historic 7000+ SF Single-Family Townhome on the UWS
Listing courtesy of one of my favorite Compass colleagues, Nick Gavin and Ugo Russino
A UWS stunner, this townhome lies on one of the best blocks in the neighborhood, steps away from the Museum of Natural History and Central Park. Freshly renovated, 137 West 77th Street is a spacious residence on a 109-foot lot, spans 7,000 square feet, and boasts five beds and eight baths. Here are some highlights:
- Access to several private outdoor spaces, including a front patio, roof terrace, and generously sized backyard with a built-in sink and BBQ.
- Large primary suite with a massage room and dry sauna. (You read that right—a SAUNA!)
- A fly centerpiece staircase built by Prandoni Fabrication and Design featuring exquisite glass and wood guardrails and wood steps.
- A hydraulic elevator with a mural by artist Miguel Paredes.
- Who wants a tour?
Before you go…
🌍: The 40 coolest neighborhoods in the world according to Time Out. Can you guess which Brooklyn neighborhood made the cut? (Scroll to No.15 to find out! It should’ve been higher).
🎵: Alicia Keys reached into the vault to share Golden Child, a song birthed from a poem when people didn’t quite believe in the music she was doing. It’s vintage Alicia and will be included in the 20th Anniversary of ‘The Diary of Alicia Keys’ set to drop on Dec. 2nd.
🏠: Farmhouse is out, Brutalism is in, according to Zillow’s 2024 Trend Report.
🛋️: I love interior design and enjoyed the 15 homes featured in this AD article showing design ideas from Scorpio celebrities. Being a Scorpio myself (11/11), I look forward to having my design style featured in the future.😜
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Looking to Buy, Sell, or Rent? Let’s talk.
Like I ask GOD every day, who can we help next?