What ADU Legalization Means for NYC Real Estate Agents
New York City’s ADU laws are brand new, and as a result, most property owners, investors, and real estate agents are completely unaware of the impact ADUs will have on the housing market, especially in Queens and Staten Island. ADUs are incredibly popular in California, Washington, Oregon, and other parts of the Western US, and there is no doubt that NYC will embrace this rapidly-growing housing trend.
Real estate agents who know how to recognize and market a property’s ADU potential will gain a massive competitive edge over uninformed agents.
What is an ADU, and Why Are They Important?
In NYC, Ancillary Dwelling Units, otherwise known as Accessory Dwelling Units or ADUs, are legal dwelling units built in addition to a one- or two-family home, and can be standalone (detached) backyard units, additions to the primary home, or basement and attic conversions.
ADUs are valuable because of the flexibility they provide to property owners, who can use them as rental units, living spaces for relatives, or private suites for guests. However, ADUs are limited to properties that meet certain zoning requirements, and careful research by a qualified NYC zoning expert must be performed to determine whether a property meets the criteria for an ADU.
Make Listings More Marketable
Agents and brokers can better market their listings and achieve higher sales prices by highlighting a property’s ADU development potential. Determining whether a property has ADU potential and then marketing it as such will help make that listing stand out from other properties for sale.
Find More Hidden Gems
Aspiring homeowners and investors are always on the hunt for great deals, and they value agents who can find undervalued properties. Knowledgeable real estate professionals can help their clients find great deals by identifying properties that are not accounting for ADU development potential.
Second Key: ADU Experts
At Second Key, we are paving the way for NYC’s new ADU movement. Whether you are looking for unique ways to maximize your client’s property value or you want to help your clients purchase undervalued properties, we are ready to offer our expertise.
Contact us to learn more about how ADUs can help you better serve your clients.