Nicole Fishman Benoliel, CEO & Co-Founder of NestApple joined #BoldBiz to tell us about how NestApple is disrupting the traditional broker monopoly & how it works for millenials! #BoldTV
Posted by BoldTV on Monday, June 11, 2018
What is Nest Apple?
Nest Apple returns us our hard-earned cash — or, at least some of it — when we buy and rent an apartment in NYC with them. They are an 11-month-old company that is currently disrupting the real estate industry’s old-fashioned ways. This market, according to Nicole Fishman, who is its co-founder and CEO, has not changed for the last 50 years. Brokers still take massive amounts of cash in return for their comparably scant services. This is because most brokers are themselves affiliated with gigantic agencies with whom they must split their earnings. And so they ask for exorbitant amounts of money for their services.
Nest Apple, on the other hand, does not work with a big agency. They work with themselves. And that’s it. Whatever commission they receive, they pledge to pay back two-thirds of it to the client. Nest Apple recognizes that many of the services that brokers provide can be, and often are, done by the client themselves these days. For instance, one can easily go to streeteasy.com to find the property that they want. Nest Apple lets the client do this work of finding the location and then guides them from there with know-how, paperwork completion and filing, setting up appointments, etc. Nest Apple claims that these brokers are scamming us, and they acknowledge a division of labor between themselves and the client — a division of labor that entitles the client to some of the returns.
Where did the idea come from?
Nicole Fishman is from Central America while her husband is from Paris, and so they have a special understanding of real estate industries abroad. According to Fishman, real estate is significantly less costly abroad. New York City is a place that has not evolved with the times, and so Fishman believes it is time for that to change. Nest Apple just received its license to operate in Connecticut in addition to New York City, and the game plan is to expand into all of the Tri-State area, and, hopefully one day, beyond.
In the modern day and age, real estate strategies often, in large part, involve the customer themselves completing much of the workload on the internet. Acknowledging this in a way that the NYC real estate industry has failed to, Nest Apple is dedicated to bringing some of the returns on the sale back to the clients who deserve them. Nest Apple believes that if the customer does much of the work, then they deserve much of the money earned, too.
Have something to add to this story? Comment below or join the discussion on Facebook.
Header image: ShutterStock