If real estate brokers do not add anything to the marketplace, other than getting a percentage of a real estate deal that could otherwise be transacted as a FSBO, would seizing their building for redevelopment as a restaurant or bank be an economic improvement?
In other words, could Kelo be used to exact my revenge on the failed real estate deal because the seller's broker got greedy? The highest and best use of that office space isn't as a real estate brokerage, but as a restaurant. Or a bank.
That's what happens in Ridgewood, NJ. Practically every open office space is turned into a restaurant or bank because they represent the highest and best use of the property. It also garners the highest rentals and both uses can afford the higher rentals charged.
Hmmm. I wonder. It would be sweet revenge.
After all, the real estate broker is a middleman whose only economic benefit is siphoning off the profits from others. Their specialized interest is in using exclusive listings to get both sides of a deal. A restaurant would best serve the community - literally and gastronomically. A bank would also serve the community, and the rentals would be higher to the landlord/owner.
It's a win win for me. I get my revenge. The landlord/owner gets a better rental, and oh, I get my revenge.
BWAHAHAHA!
No comments:
Post a Comment