Selecting a Real Estate Agent to Work With

Buying and selling real estate anywhere is complex; buying and selling in New York City can be daunting. At first it may seem that checking real estate websites or utilizing one of the many search engines is sufficient to find the right home at the right price. But all properties are unique; homes differ and so do contract terms, financing options, coop board requirements and closing fees. 

Similarly, no two transactions are alike. Familiarity with coop-specific board requirements, proper pricing and effective negotiations are key to a successful transaction and ultimately, a satisfied buyer or seller. It makes sense to work with a professional who specializes in the area and type of apartment or townhouse that meet your criteria, and has a proven track record in successfully closing deals.

How do you find the right agent for your needs?

Check out the competition. You can find local agents through recommendations from friends and colleagues, suggestions from lenders, lawyers, financial planners and CPAs, or by visiting open houses and agent websites.

When choosing an agent with whom to work, consider their training, experience, familiarity with the City on a macro (borough) and micro (neighborhoods, school districts, etc.) basis. If that's too much work, contact me and I will provide you a list of professional agents with the best proven reputations in the type of property you are seeking in the neighborhood you prefer.

What should you expect?

Once you select an agent you will want to establish a proper business relationship. Some agents represent only sellers, others represent only buyers; some represent both. Your agent should explain the options available to you and disclose in detail what fiduciary responsibilities the agent has to you under NY State agency disclosure law.

Once hired for the job, your agent will provide you with information detailing current market conditions, financing options available to you and negotiation strategies and issues that may arise. A good agent will keep you updated throughout the course of the transaction.