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Bedford-Stuyvesant is home to approximately 153,040 people and 15,627 jobs. Bedford-Stuyvesant is a supremely walkable neighborhood in Queens County with a Walk Score of 94. In addition to houses in Bedford-Stuyvesant, there were also 72 condos, 19 townhouses, and 99 multi-family units for sale in Bedford-Stuyvesant last month. By the end of that year, we completely pivoted the focus of our company to matching qualified renters with the best apartment listings, whether they are posted by a landlord, management company, or broker.In the past month, 24 homes have been sold in Bedford-Stuyvesant. They save everyone a lot of time, visiting dozens of apartments a week only showing the top ten percent or so to customers. That was when we realized being a broker is really hard, and that a great agent adds a ton of value. I lost a lot of weight, climbing all those walkups and roaming around the streets of Manhattan. So we did! Lawrence and I both flew back to New York, received our real estate licenses, and spent months meeting clients and showing apartments all day long. He told us that if we really thought brokers were useless, then we should try being brokers for a while. However, one of the best pieces of advice we received during the summer at Y Combinator came from Paul Graham. We thought we could disrupt the entire industry by creating a website and directly connecting renters with landlords.
When we first started RentHop, we assumed all real estate agents were these evil slimeballs that charged huge fees and barely did anything. The entire story is best told by Lee Lin, quoted below, in a talk he gave to Startup Institute about his experience at Y Combinator. The founders of RentHop originally pondered this question in 2009, which led to the creation of this website! The original plan, as reported in the NY Times article Getting the Agent Without the Fee, by Michael Grynbaum, was to eliminate the need for apartment brokers entirely. Why use brokers at all when no fee apartments exist in NYC?
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