Have NYC developers decided they were wrong about in-house brokerage teams?

Corcoran Sunshine Marketing Group’s partnership with New York City developer The Related Cos. to help sell $5 billion worth of condos could signal a shift away from developers handling sales in-house, The Real Deal reports.

While backers of two high-profile projects, 432 Park Avenue and One57, are marketing the units through in-house brokerage teams, developing a brand, marketing platform and sales strategy requires the kind of talent and expertise possessed by major brokerages, Halstead Development Marketing’s Stephen Kliegerman tells The Real Deal.

Even though Related Cos. hired a rival, Kliegerman said, “I think it’s a great thing” for the brokerage sector overall.

“It shows that this short wave of developers who thought that going in-house was more cost-effective and more productive than working with the brokerage community is potentially turning back to the brokerage community,” Kliegerman said.  Source: therealdeal.com