Top 5 Tips for FSA Sellers - NYC Edition
With the "Big NYC Opening" this week, and Fair Start Act (FSA) properties debuting in NY, there is an abundance of opportunities for the ‘Uplander’ status players to rapidly increase their net worth. If you are new to Upland, to say the plethora of information out there is overwhelming would be an understatement. To help, we’ve complied a list of the Top 5 tips to remember when offering your services as an FSA seller for the Pro, Director, Executive status players (PDEs). Following these tips will help make your transactions with PDEs go smoothly, and could lead you to be the go-to FSA seller for the city you’re in!
It is not enough to simply be available to make FSA purchases. You should also have enough UPX available in your account to make the buy. Thus, it would be advisable to refrain from making an announcement in the Upland Discord server(s) about being an available FSA buyer unless you have ~3-5k UPX in your account at minimum (amount may vary based on city) or are prepared to fiat-in. You should not assume that a PDE is willing to “front” you the UPX for purchase. Please note, if you do opt to purchase UPX with fiat, you will need to stay under 100,000 UPX net worth to remain FSA eligible.
If, by chance, a PDE is willing to fund the FSA purchases up front, please be professional. Be transparent about your itinerary. If you are not going to be able to execute the acquisition immediately, communicate that to the buyer. Taking a significant amount of UPX (which, to be clear, a PDE’s Net worth has no bearing on what ‘significant’ is) and disappearing for an hour is going to severely damage your reputation as a reliable FSA seller. Also remember that, as an FSA seller, you are being entrusted with valuable information about which Upland parcels are preferable and/or coveted. Receiving this information should be immediately followed by securing the property for the buyer.
At any given point in time, there are likely numerous FSA sellers operating in the same city. Thus, it is important to move quickly once you know the address of the requested parcel. Many players in Upland think alike. Therefore, it is not unusual for many PDEs to covet the same, or similar, properties. Personally, I rank speed of service very highly. I take comfort in knowing that the FSA eligible players I employ, and refer, are going to secure the parcels quickly to reduce the risk of losing out on ownership.
Running out of Sends is not just a rookie mistake. Uplanders and Executives alike have made the mistake of being in unfamiliar territory, and inadvertently using their last Send. Since the “Paper Airplanes” (which hold a random value of Sends to refill with) only appear over minted properties, running out in a newly released city can be disastrous. If you find yourself in this predicament, your only options will be to send to one of your properties in hopes of targeting a nearby Paper Airplane, or float randomly until your BlockExplorer (BE), or your trail, are in proximity of one. You can see your current quantity of Sends by clicking on your BE on the map --> clicking the paper airplane icon --> viewing the number to the right of ‘Other owned properties’. Additionally, the Little Italy Team has created a Chrome/Brave Extension to make this easier to see. More details of that can be seen here.
There has been much debate in the Upland Discord community over what an appropriate markup is for FSA properties. While my personal philosophies and opinions are outside of the scope of this article, I will say that a reasonable or appropriate markup is not a static percentage. Not only should it vary by city, but other variables such as Collections and market desirability should be taken into consideration. You should also weigh your options, and do what is right for you in the moment. Is selling one FSA property at a 30% markup more profitable than three at 10%? Is offering competitive rates important to you? These are the questions you should be asking yourself, and, if you need help answering them, reach out to a trusted advisor in the Upland Discord community.