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Rainmaker
4,022,757
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Air rights is a tricky subject. It can zap the value of the underlying property if not carefully crafted. Time for legal advice. Write about something else.

Mar 17, 2019 03:14 PM
Rainmaker
1,838,246
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Because plenty of people seem to buy a lot of hot air from our elected officials? All kidding aside kennith Frazier In all my years as a Realtor, salesperson, Broker/Owner I've never heard of air rights being sold in the City that I live in, or even in the State for that matter.

Mar 17, 2019 02:48 PM
Rainmaker
1,674,025
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Kennith,
Are you familiar with coach Vince Lombardi's famous line:
"Gentlemen. This is a football"?

His point was let's get back to the basics.  Don't get fancy. As a real estate student, I wouldn't worry about air rights.  Learn the basics first.  Stick to your lessons.

Mar 17, 2019 05:10 PM
Rainmaker
1,707,347
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

You live in Seatlle and have a clear view of Ranier. Worth some bucks.

Mar 17, 2019 03:58 PM
Rainmaker
6,372,869
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Most of us are not involved with selling air rights.

Write the blog as suggested by your instructor.

It is time for you to add your photograph to your profile.

Mar 17, 2019 02:36 PM
Ambassador
5,216,960
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Nice to see a photo on your profile.

Selling air rights is not one I am familiar with, how high do I have the right to sell?

Mar 17, 2019 05:38 PM
Rainer
52,147
Krista Jenkins, REALTOR®
klm Real Estate - Lubbock, TX
Residential sales and retail & office leasing

The seller would literally be "taking wealth from the air", a phrased coined by the engineer William J. Wilgus. The legal concept that "whoever owns the soil, it is theirs up to Heaven and down to Hell" was well and good before air travel!  Since then , the federal government has put limits on air rights. Air rights are property and can be transferred or sold and are an especially important part of real estate in urban areas such as Chicago (https://www.chipublib.org/blogs/post/technology-that-changed-chicago-air-rights/) and New York (http://www.airrightsny.com/). Good on you for thinking about air rights!

Mar 17, 2019 03:48 PM
Rainmaker
1,724,030
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have been in real estate for 15 years and never dealt with air rights.

Mar 17, 2019 03:21 PM
Rainmaker
832,133
Peter Mohylsky. Broker Associate
Miramar Beach - Santa Rosa Beach, FL
THE BEACH IS OPEN AND WAITING FOR YOU

Exam question maybe but nothing we deal with here in Florida.

Mar 18, 2019 03:59 AM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Good luck in your Real Estate classes, kennith Frazier 

I teach Real Estate classes in PA, but have never heard of selling air rights.

Mar 17, 2019 06:06 PM
Rainmaker
851,129
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Great point, Carol!

I loved the immortal wise crack back to Coach Lombardi by wide receiver Max McGee, "Wait, can you take it a little slower, coach?".

Mar 17, 2019 05:46 PM
Rainmaker
5,570,665
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

i've never had to as much as discuss air rights with anyone.... good luck with your blog post.... 

Mar 17, 2019 04:19 PM
Rainmaker
2,013,870
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

So go ahead and blog about it ?

Mar 17, 2019 03:45 PM
Ambassador
2,058,367
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

You may have to ask yourself what you will be selling... properties or air? I would imagine that "air rights" could come up around airports but I've never had an instance where this came up.  

Mar 17, 2019 03:01 PM
Ambassador
4,091,886
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I would seek guidance from an attorney if someone asked me this question as a real estate agents. Air rights are sold with the real property beneath so, to separate the two would not be something we could speak to on our own as agents.

Mar 17, 2019 09:37 PM
Rainmaker
519,701
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

One of the latest deals is where a train yard in manhattan sold the right to built skyscrapers over top of the rail yard. A whole community will be built while the train yard remains doing what it does, only now it will be underneath the buildings. I would love to have a piece of that one.

Mar 18, 2019 04:54 AM
Rainmaker
3,909,728
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

No clue... have never dealt with air rights. And I would think this is a question better discussed with a real estate attorney.

Mar 18, 2019 04:31 AM
Rainmaker
1,510,363
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

4

Mar 17, 2019 11:59 PM
Rainmaker
5,369,450
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kennith,

I agree with Wayne Martin 

Mar 17, 2019 04:05 PM
Rainmaker
2,062,259
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Agree with all answers. 

Mar 19, 2019 07:10 PM
Rainmaker
1,596,476
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea.

Mar 19, 2019 07:38 AM
Rainmaker
967,138
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

It seems Krista Jenkins has given you a reason that you could build a blog post on

Mar 18, 2019 08:45 AM
Rainmaker
1,136,268
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

80-500 ft above roof -State dependent.  

Mar 18, 2019 08:06 AM
Rainmaker
1,362,068
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Glad to see you have a profile pic.  I've never heard of air rights being sold.  You either have them or you don't, depending on the type of property you own.

Mar 18, 2019 07:33 AM
Rainer
4,438
Shari Burke
Engel & Volkers' - Houston, TX
Real Estate Agent who lives in the Galleria area.

I believe it keeps a property from a building blocking their view with another property.

Mar 18, 2019 11:57 AM
Rainmaker
868,649
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

While I have heard about selling air rights, I have never encountered that issue for any transaction that I have handled.

Mar 18, 2019 11:29 AM
Rainmaker
1,092,867
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Outguessing your instructor is not a good idea kenneth. It appears to me that you might not be starting off on the write foot for this business.

Mar 18, 2019 09:31 AM