Jokes aside, I'm so glad he uploaded these. I've learned to always laser measure real estate now. What a world we live in. Give anyone a nanometer, they'll cheat you a light year.
There is some truth to that, the lessee (Louis) will be charged for space that is not usable, like columns, walls, stairs, elevator shafts, etc. This is standard operating procedure for commercial leases, some inflation is to be expected. If the listed square footage is inflated, the price per square feet will be lowered, or the listed square footage will be the actual usable square footage at a higher price per square feet. One way or the other, the lessee(s) will pay for the unusable space in the building, directly or indirectly. At the end of the day, the lessee has to do their own due diligence and budget accordingly.
"I measured and its 1700, not 2500." An acceptable response: "We can talk to the land lord and see if they will come down to market at 1700, or show their measurements for 2500." An unacceptable response: "YoU nEeD tO aCcEpT rEaLiTy!"
@@itisme947 yeah well that sicko society must be dying off cause if louis is leaving and every other business is closing down going out of business then it must die at some point cause there will be no one left living there it's becoming more and more of a ghost city due to it's filth and corruption from what he is telling us in his videos also every other society is in America is better why evolution and progress so due to the rules of survival of the fittest New York must fall due to it's old age and sick beliefs at some point
>Advertises a store as a certain size >Louis pulls out a tool to measure how big it actually is. Much smaller then what she advertised >"Ah look come on you have to be realistic here" Holy hell she is insufferable.
@@raven4k998 sometimes I wonder "who are these brokers working for?" Why not level with him and be like "yeah it's BS, we can ask for lower, but I think you'll find if you keep at this, you'll keep hitting this kind of wall".
NEW YORK CITY: FOR SALE "2020 Mercedes Benz - only 10K miles. Still has original warranty. " Price $50,000 Reality: You show up and it's a 1974 Pinto with a busted transmission. Price is still $50,000. "You're not going to find anything better".
She voted Biden AND believes the election was fair too. Bet. Edit: Thank you to all you leftists and wannabe lefties for your completely empty and meaningless words of admonishing and insulting. Their complete lack of reasoning and deeply embedded blah TRULY encourage me to stay vigilant in spreading the truth in spite of the puppets. Thank you, sincerely. I think I will wave the flag I love. 🇺🇸🇺🇲🇺🇸🇺🇲🇺🇸🇺🇲🇺🇸🇺🇲🇺🇸🇺🇲
Because, if you can so easily accept rampant corruption, hypocrisy and blatant lies in one way, why not another? Thank you for asking such a telling question. 😉
this is why I"m learning to do everything by myself, If my only option is to deal with a lying pos then I'd rather not deal with them or learn to do the job myself.
@@Vistrus There is a term called usable sqft. But in commercial unlike residential. As long as the landlord allows it you can take down and redo the walls to be a thin or thick as you want. This is why you need to go by building department records for the building but even those could be off in NY in my experience. Due diligence is also required by the buyer such as what he is doing right now.
@@MBisFrenchy Maybe in New York - but in Kansas City, if you advertise a space is 2500 sq. ft. - then you better be able to measure all of the spaces together, from interior surface to surface - and come up with that number. If you round up from 2495 or something and you are clear about it, no biggie. But if you are off by even 100+'? Then people can file complaints with the city, and if you are a repeat offender, you can get your building permits pulled and your real estate license pulled. You will be reduced to 'for sale by owner' and the banks won't even deal with you up there because the city cranks the rates up. It's the one way they have slowly started getting all of the housing cleaned up in the city. It's done really well over the last decade. All the shady big-money people that used to just buy up whole blocks, then charge rent and let it fall apart are mostly gone. No more mr. nice guy.
@@MBisFrenchy Even in residential real estate (I'm a residential landlord), we typically market the overall square footage of the house based on a tight measurement of the outside of the building. So, you definitely 'lose' the thickness of the walls (say, 10%?). However, I would argue you're still GETTING the walls... they keep you warm/cold and protect you from the outside world. Nobody but you gets any benefit from those walls. So, I would accept a slight reduction for retail space for the same reasons as well, but less so. Why? Because these units share at LEAST 2 walls with the neighbors, possibly 3. So, let me pay for half the shared walls and full price for unshared walls, and let the neighbors do the same. Regarding office space, I can definitely see the argument for 'shared' lobbies, elevator shafts, stairwells, etc, so I would probably accept more of a loss factor in that situation.
I think that's not what pissed him, at least not the main thing. As he said, he knows how real estate in ny works. I think it's the over budget spaces she got him chasing around. It's like when you go to a car dealer, and say "I'm looking for something in $20k-$30k range". And the salesperson goes, "how about this aventador? Or this koenigsegg? Or maybe this mclaren P1? It' over your budget, but it's a good deal for a good machine". He/she is just wasting your time at that point, and it can be so frustrating. Btw, Louis should have just said, "I don't have that amount of money, period".
Creatip that’s sales in general they want to drive up what your willing to spend as most take the words I can afford as I have money to spare I don’t want to use. they make sales not deals
As a Broker, I’m stunned that this clown is stating on film that it is customary to misrepresent square footage!! Square footage, right behind property condition is one of the main points that are the basis for lawsuits. If she were MY agent, she’d be booted faster than she could blink!
@@juliorojas4384 it's true.. it would be very hard to prove she deliberately misrepresented the size. You would have to record her saying, "yes I knew it was smaller". Not only is it not grounds for a lawsuit, but you would also not be able to break a lease if you found out it was smaller after signing a contract.
@@auditorofauditors862 George stated he's a broker and this isn't customary. Also, if you state an incorrect square footage in a lease (a contract), you can bet there's a basis for a lawsuit.
@@DHarri9977 She is suppose to represent the buyer in this. If the buyer feels like he's being ripped off then she needs to she needs to look into other ventures. She is only worried about making a sale and has no problem letting her client get into a situation he's not happy with. That's not what I'd call doing your job.
@@John-771 I didn't realize she was a "Buyer's Agent" her natural instinct would still be to point out the positive but would naturally need to ask questions concerning the buyer's needs and wants.
@@randominternetguy3537 if you speak portuguese you can understand a little bit of spanish, but you won't be able to have a conversation or understand what people are saying if they speak normaly.
NY real estate market is so messed up. No one can afford those places but yet the “market rate” doesn’t adjust to what people are actually willing and able to afford.
Jamie Swain she was surprisingly cringe. Like when a writer has to write a character and directly imply how arse licking and cringey they are through dialogue.
She is friendly with them because she will be negotiating with them the terms and the price. It actually would be more suspicious if she was being like this with a client
If the space is misrepresented, then they’re lying. This broker says that’s ok to lie, it’s the nature of the beast. With this broker you need to bring a shovel for all the BS she’s laying down.
Whenever they have a valley girl accent, you know they are full of shit. He should tell the brokers to go back and drop their clients for bullshit numbers.
When a salesperson can tell you're unsure, they will assault you with a long, well rehearsed, emotionally appealing spiel that won't mean much but is just meant to make you trust them. It often starts with "Look, you just want..." or something. Watch out for it, don't buy shit you don't need or is overpriced. Haha, and the little "But I like that you're smart and we can have a smart conversation about this, but... (BUYBUYBUY)". It's the same in all sales. It's just fucking bullshit.
Yup, ' I'm on your side ', that is why I am talking all over your concerns and real life data, as well as condescendingly letting you know that you know nothing of commercial dealings.
lol. He's arguing against the nature of sales. They're OK with being deceptive to get more money from dumb people or people who don't care about wasting money. If you're not one of those people it's not even a conversation worth having. Put in your "insulting" offer and move along. Unless they're desperate, that's usually what they want you to do anyways so they can find a new mark to spend the time on. Props to her for the effort though, sounds like she REALLY needed to close a deal. Not sure if he did take this property, I'm guessing no, lol.
As a ex salesman. I can tell you that she is exhausted and was frantically rilunning her mouth to give you less room to think and respond. She is just pressuring you. She is gone and talking shit about you behind you back as soon as she gets a cut off of you.
As a salesperson, she's talking too much. She's trying to play a fear buy on a detail oriented customer. Also she's rolling some way dumb logic on him. Rookie moves.
She is going into way too much detail about how her livelihood is at stake on this deal. That alone is unprofessional but she even betrays herself by pointing out that she makes a percentage while trying to convince him to pay more than he is comfortable. Glad you found someone else.
@@livesimplyandhumbly Its unfortunate that you feel that way about the industry, Maybe its just the area that you're in but in my market people tend to be much less shady
Just because something is usual does not make it correct, and Louis has found places and brokers that are less shady than this lady. The attitude "that's just the way it is" results in nothing ever getting better.
Karen - "This guy's name is Rob he's really nice." Two minutes later "Hi, are you Rob? Nice to meet you." The two faced lies and persona are masterful.
As a former used car salesman, I take offense to this. Liars, maybe, most of us, but when confronted with absolute truth most won't just dogmatically repeat the lies
Brokers always say "That is an insult" just ignore them. Brokers always say the same crap. It's not your problem or job to make a broker's job easier. She is insulting to you. I have heard this patter from brokers so many times and it is same nonsense. The broker is trying to manipulate you into making a deal. Any ding dong can get a realtor's license and most think it is easy path to a lot of money without hard work. Then she tells the guy to be "smart" implying he is an idiot.
@@SupportKennedyVoteTrump yeah she's like no no no someone else will make a better offer and thus how come Louis can show these places still empty years months later when ever he goes back and checks on the place
she's working for the building owners not louis, she's telling him not to offer a lot less because that cuts into her percent. he needs to cut her loose
Sounds like she's desperate because she sucks and can't land a deal, ironic that being desperate basically ensures you'll never land a deal with anyone who has any sense
Her continually saying, "right?" as if to subconsciously put what she's saying as truth in his mind, makes my blood boil. Reminds me of how this HR rep used to speak.
This is fascinating for its rawness. I'm witnessing a slice of life from a New Yorker trying to run his business. There are characters, conflict, drama, but it's all real. I'm peering into another world.
It's not just NY. There are a lot of states where this happens in. Now if people wanted to just be fucking honest, and price according to SQFT, sure fine great. The problem is, a lot of places focus on well it's $1.25 per sqft. So for some people to be comparable, they fudge the sqft to fit the comps in the area.
"It is not going to get better." "That is the market." "That's the way it is." ... Basically frustrate your customer into a deal. And she is picking a fight with a guy who contradicts Apple xD
She's anchor pricing you. If you don't know what that means, just look it up. Basically set your standards higher than you planned for so when you find a shot space ripping you off for a little over your asking price you give in. Please ditch her and anything she's a participant in.
It's not about price though, it's about a mispresented feature of the merchandise. Like, you sell a bucket as holding 10 gallons, but when measured it's actually 7 gallons.
they do this in car dealerships also i know because i worked for one for a year and they tried to get me to do shady tactics to make sales and i wouldnt do it
@@novachannel1981 hahaha people fall for this all the time at car dealerships. They think they are getting a steal. It's embarrassing I use to watch people walking out thinking they got over on the dealership. Meanwhile they just stole ur trade and you saved no money lol
I know this is a good joke, but Spanish and Portuguese overlap by 87%. This means I can communicate with Brazilians. I speak to them in Spanish and they speak to me in Portuguese and we still understand each other 87% of the time.
@@elchicovip01 That's not because of language overlap - a lot of words that are similar between the two languages have completely different meanings. The reason you get along with us so well is because we're forced to learn basic Spanish in school ;) so even though we can't speak Spanish we can "get" it.
13:13 is a fantastic point from Louis. "I can't lose what I don't have." It's very important to not get locked into a scarcity mindset. That's how they manipulate you.
@@hereticsshallbecleansed7245 if you believe something is in a limited supply you will be willing to pay more for it. often used in marketing to make more money.
@@correctionguy7632 I don't think scarcity is the correct word for this. She's using a sales technique to close the sale. "This is his", and "you will lose this", implies that by not taking the deal that he will lose what he has. Louis is correct, "this ISN'T mine and by saying NO, I haven't lost anything. This is the push technique.
Scarcity is when, "you won't find a better deal". That's her saying this is what is available and you have to accept what is out there." Best response to this, is what's been said. If you are patient and willing to find the right deal you will do better with the abundance mindset. Louis is using this when he says, "this place is open because they've not been able to make a deal with people, ie, there's a reason it's available.
Imagine her at a car dealership... "I want my money back, this SUV was advertised as a 5.7 V8, but there's only a 4.0 V6 under the hood!" Dealer: "Nononono, that's how it is, ma'am....this is the NY Commercial Real Estate edition"
Go watch #Steve #Lehto Lawyer South Lyon, Michigan and he would fight that Lemon Law car in court and they would have to buy it back and pay court fees. He would fight it on principle. You pay for a 5.7L V8 that's what you will get. There's the case where it was fought for the blind man. Hi I'm here buying a car for my assistant that will be driving me I'm very lenient of things but I want a V8 Van. Goes for maintenance ok so I fixed 6 spark plugs. 6???! THIS IS A V8. Mechanic,"Sir whomever sold this to you was lying! It's a V6 and 6 spark plugs." Took the dealer to court and won due to Lemon Law. Little off topic but back to the video. Karen is Definitely annoying. YOU don't lie to Louis Rossman.
@The Swedish American LOL, that just drives home the point that Louis is talking fairly loudly about being cheated/ripped off/scammed while walking through an obvious NYPD precinct parking area with cops all around, and not single one of them walks up to ask if he has been the victim of a crime. Or to demand he stop recording them, for that matter.
When I was shopping for my house, my realtor pointed out flaws we missed and would flat out say "don't buy this house" on occasion. I learned to trust her and will use her again. This lady sounds like a pure salesman to the bone...
That's how most brokers sound really. They are super full of shit and are always acting like they are on your side, but we all know they are all in for the commission.
Karen talks like an 11th grade English teacher talking down to her students when they call her out on misinterpreting a metaphor in The Catcher in the Rye.
What traumatic experience did you have with catcher in the rye... Unless you're a high schooler and that's the most relevant example you could think of.
@@kobibenlevi5523 I think it's just funny being this extremly specific, i'm not sure it's based on actual facts or traumas lol, just a quick and smart wit.
that was.. a pile of condescending crap. louis was so cool, calm, and collective. i don't know how he does it, but i don't think i'd be able to handle all that crap, kudos to him.
@@danman9847 true. i also think this is why i find these videos so fascinating and addicting to watch. it's real life and unedited, you get to hear every single thing.
I LOVE THE DIALOG IN THIS VIDEO ! ! ! ! ! Her; "TRUST MY BROKER" ??????????????????????? Her; "Oh, their not lying" Louis; "If I was smart, I wouldn't offer them anything near what they are asking"
My pet peeve is people saying "that's just the way it is" when you point out that something is wrong. People can lie and basically steal from you, but it's okay - that's how it works. Like, what?
Can we talk about how genius that fucking measuring device is though? What a great fucking idea to bring along lol. It may be standard practice and I don't know (I live in the rural south I know jackshit about renting commercial spaces in New York lol) but I thought it was such a good thing to have to bring along for these.
@@bandwagon240 & after she measured do the math so she knows how far out their claims of floor space are, was it the 25000sqf that wasn't even 20000sqf? but that's Normal, Maybe 18000 rounded up to 20000 but not 25000 then get John Wayne from the Quiet Man to Slap some sense into her, P.s. I don't approve of Physical or Mental violence
I like how she says she's not gonna work her ass off to help him for nothing as if she doesn't just walk around make phone calls and sign papers where as louis and his employees literally have to work their ass off to afford to eat food that that lady would probably consider is beneath her, at least in regards to the way she presents herself.
Not really. I've sold real estate. It's a shit ton of work. It gets frustrating when you put in 30 hours and show a guy 12 properties only for them to not buy anything.
@@brassman5 I understand what you’re saying but that sounds like a lot of time, not a lot of work. If you were on your feet with no time to stop over half the time like a standard job then I getcha but putting in hours is a big part of real estate. You work when you want and also don’t when you want, a standard job does not have that luxury nor pays as well. In the video the properties he is shown do not have the specific dimensions that were originally proposed to him, can’t blame him for not wanting to do business with someone who beats around the bushes with numbers considering numbers are very relative to the job.
@@mosese1172 We only get so many hours in our lives. Whether it's on your feet or behind a desk, it doesn't matter. Spending that time without getting paid is wasting your life. As far as this video is concerned, I don't disagree with him at all. There's no excuse use for advertising false information. Back in the day, I would have been fired for that.
@@brassman5 I respect that. I just didn’t appreciate her overselling of the product. I’m sure she has done good business in the past but she over sold an over valued product trying to revert the waste of time to our friendly repair man and entrepreneur. I did not appreciate that but I’m just an outsider looking in, purely speculative
Just Google "Loss Factor Real Estate". Apparently typical New York sqft numbers for commercial real estate (didn't check if this also occurred in residential) is forged 27%+. They basically just make up sqft numbers to get sales. Apparently everyone knows this in NYC and everyone does it... So experienced tenants talk "Usable Sqft" when looking at a place. So, in light of these facts, 20% is actually completely reasonable given apparently the average of 27%+.
Because he's in a "desperate" position because he "desperately needs" to upgrade for his business - so her perspective is that he's the under hand and she's with the upper hand.
This is what my dad thinks. He is so sure about how things work. When something happens that's outside of his reality bubble, instead of learning and changing his perspective, he shrugs it off as an outlier. Blows my mind that people can't think differently.
@@ToxicatedLum what she doesn't realizes is that Louis has at lest 3 more years of lease at his old space. So he has plenty of time to look around and fire that sea monster called karen
Realtor here: there’s no such thing as a sellers market. The buyer brings the money to the deal. This is capitalism. This is a terrible agent. You should never argue with your buyer. Dishonesty should never be tolerated.
Isn't that the actual meaning of the "The customer is always right" thing? It's got nothing to do with getting free coupons because you got offended, it's that you (ideally) can't sell anything to anyone for more money than they're willing to pay
@@potaterjim Too bad that saying is bad when working as an engineer or something that captures requirements. Your job is not to pamper the stakeholders, but to give them what they need. If your job is to be there with a smile on your face and take all the b.s., then yeah the saying appears to be true (emphasis on the "appears").
This reminds me of my one brush with a broker in the US. She did exactly the same stuff, showing me places that she liked rather than listening to what I wanted.
Don't you know? Every salesperson is automatically your new best friend. Especially if they're incompetent and trying hard to misrepresent what they're peddling.
It's not a scam! It's simple: the store is bigger on the inside! Louis better not drop his thermocouples otherwise he will be stuck in the store repairing macbooks for the rest of eternity.
"they set their prices by the market. its by square foot." "but they are lying about the square footage" "I am not disagreeing with you, but they aren't lying they are setting price by the market" but they are still lying though
Loosing something means you actually have had possession 1st. I can't wrap my head around loosing a sale, since you never had it. But then I do understand not getting the girl because she was just curious. But still I did not loose her because I NEVER FOUND HER.
if you hire them and sign an agreement, they have a fiduciary responsibility to you. Good real estate agents make their living in repeat business and building relationships so they always try to get you the best deal possible.
@@jessepinkman6164 Good luck proving fiduciary fruad in a court room. Brokers want you buy a place as soon as possible, they make money on sales, not by the hour.
Some really are, they don't let money be their primary driver. Sure, they need money just like everyone does, but they won't sacrifice they dignity to get it. Not everyone in this world is motivated only be money. A lot are, but not everyone, so don't use qualifiers like NEVER or ALL.
Exactly my thoughts. But Louise can't tell her that, because unlike her he's not enough of a con to tell her stuff she doesn't want to hear and pretend that they're still on good terms.
Louis just ruined her kids Birthday! now she cant get a commission because as she said in 12th minute that it happens all time with these sexist men who make her run around for whole years.
Its clearly so they can list something at a lower ~$100 per square foot price, despite the fact that in reality they want to squeeze ~$110 per square foot. Honestly I feel as though measured against the building plan, if this is not the correct amount, there should be some basic level of enforcement around advertising. If the number is different that number the landlord reported to the council/city/government, it's false advertising. As you can see, mass retardation in this manner results in "thats how its done" responses and the listed $X per square foot price will always equal $X+30% in reality, which is way, way different so to assume ~+10% is normal would appear to be extremely conservative. Hustle is real.
"I love how smart you are. . . but I just want you to be careful. . . you have to be smart" *Google translate* "You are such a pain in my ass. . . stop being a pain. . . or I will never get my commission"
"How to create a sense of urgency?" Why do I want a sense of urgency? I prefer honest and ethical business practices. Granted, she can't do that either, but I can't even fathom what motivated you to say that. Do you run a scummy real estate agency?
"I make a percentage of whatever you close on" How does that make any broker on your side when you are buying? The more you pay, the more money your broker makes.
You haven't worked in sales have you? If you made a flat rate it would just encourage quantity over quality.. Ive been in sales for years and you can be moral.. My philosophy is do good business, people trust and recommend you and hopefully get return sales and recommendations. I don't obscure or lie, that just burns bridges and gives you a bad rap.
@@jf6647 I've actually worked in 100% commission sales. 90% of the sales people had making the most from each customer as their top priority. Which included lying about the "discount" the buyer was going to get making the deal that day.
@@ModeratelyAmused understandable. I get what you're saying. My point though is no matter what, if you have incentives for sales you're reliant on the person. The pay structure is not morally wrong to start with.. It just depends on the person. I've seen many scummy sales people, but. I've also seen many honest ones to.
An insult to used cars sales people, they have charisma, a certain style about them, they have a song and a dance about every car and how you are so fortunate to get this car at this deal. His children are always starving his wife is sick but by god she is the most glorious woman in the world and he just wants them to be proud in him. And isnt this car just right for you now? New family? well a second car makes sense for you. Older gentlemen? Well this used sports car Is perfect it who can look at this car and not look at you and see style? He'll take an arm and a leg and your car will most likely work, this bitch just sucks and is brow beating him to submit so she can close the deal fast. You need to romance him to take a bad deal, guilt him for a good one.
"you're a smart guy so..." and "I'm not trying to pull the wool over your eyes, I'm not that kind of person, I think you've kinda figured that out already..." Immediately walk the other way when someone tries this shit with you.
@@DKL997 People like that are so fucking transparent, it's creepy, they are often around people fragile enough or not paying enough attention that this kind of shit convinces them, and for the smarter ones but less mentally resilient, or with actual time constraints (unlike louis) it will wear them out until they crack. It's brainwashing, plain and simple, clear as day.
A pandemic with a 99.99% survival rate, amazing! It's even cured influenza, cancer etc etc, net rate of statistical mortality in the general population never trended upward!
If he points out their lies it might hurt them, Oh no poor Mr. Landlord! It must be so hard paying your bills for all your smaller than advertised empty units no one can afford to rent. Boo boo!
"It's commercial real estate." "[Lying to your face] is not an insult." These Karens are deceitful and do not care about how much business investments or wealth they destroy. A lot of them are fuck-ups that switched to real estate because nursing was too hard as in it required actual work instead of just lying and taking money on false premises.
Where i live, there was a bakery family business that had to move out because the landlord wanted an unjustified rent raise asking too much for it. Its over a year and the shop is still empty. So basically the landlord because of his/her greed from a stable income reached to zero income.
Or she is on her own side - she gets the deal and she gets her commission. If you want to think good of her. She is no good, not smart and she is not going to close deals. "This is good deal for me. Dough!", as she said.
@Ethan delivers naw man she wanted to get Louis to spend over budget to get a higher commission. My family business is real estate agents in London and while most (especially the big ones) do this kind of shit our business is a small business that relies on repeat customers. Doing shit like this is how you send people running cos they don't trust you. Even if she showed Louis stuff over his budget she should have accepted that yes the 1st place is asked for more than it is worth but unfortunately offering 5k under their asking won't be accepted. At that point, she should say: "hopefully the next place will be better for you" or something and move on. If she's so certain that the 1st space would get rented by someone with more money she should wait for that person to come rather than basically admitting to Louis that she's a dishonest realtor cos he is very unlikely to take a property from her now. The second she contradicted what she had previously told him + tried to convince him that the price on the 1st property is normal and it's just how it is, she lost the customer.
I love how she resorted to buttering you up after she realized that you know what you are talking about and she won't change your mind by telling you that it's "Commercial Real Estate"
They are. They always will be there when negotiating with you. ..... "Your side" is the side to be frauded & from which they try to enrich themselves. Not saying they will stay with you.... :P
Brokers typically know more and have a separate test to take to get that title, they also have the option to have realtors work for them. realtor knows less and usually works for a Broker. Now Broker can be just a person between two parties. It can also mean they are broker than you.
@@jetah50 a Broker is the fiduciary for the brokerage and is a second or sometimes third license that must be passed to receive that title. Associates (or Realtor if they are members of the area real estate association) are the licensed "agents" that the Broker is responsible for. In commercial we tended to call each other brokers.
