real estate agent

Purchasers Should Choose Their Own Real Estate Broker

Posted by LeeAdmin on January 06, 2014
New York, real estate, real estate agent, real estate broker / No Comments

When purchasing real estate, you will need to decide whether to use a real estate agent to assist you in your property search. Some buyers choose to do their own research – as there are many resources online which give a lot of information about properties.  However, real estate agents have access to the most recent and most current information out there – in particular, the MLS (multiple listing service) system which is not accessible to the public.  Moreover, real estate agents have the knowledge, expertise in negotiating and can guide you through the negotiation process so that your interests are best represented.  Plus it doesn’t cost you, the buyer, anything.

 

Though you will have access to a listing agent with information regarding the property, it would be in your best interest to “hire” or select your own real estate broker or agent who will represent your interests. The listing agent, is the real estate agent who listed the seller’s property and represents the seller.  When you negotiate with the listing broker, you are relying upon yourself to best represent your interest and anything that you say to the agent will most probably be communicated to the seller even if you ask them not to, since the agent is the seller’s agent. Again, choosing your own real estate agent to represent you, costs you nothing as the listing broker and your broker will work out an arrangement to share the broker commission that the seller pays to have its property sold.

 

Bidding wars and market statistics vary depending on the particular property. For instance, real estate agent, Teresa Staiano mentioned during a presentation recently that a bidding war for a brownstone in Manhattan ended up selling for $500,000 over the asking price! The market statistics are a simple understanding of supply and demand. When a particular property is “hot,” it can be sold very shortly after it is placed on the market, whereas a property that is not so popular can be on the market for years.

 

The best way to find a broker is through referrals, and the most popular way is via the internet. 86% of buyers start their searches using the internet, which is a good source of telling you which brokers know more about the particular property you may be interested in.

 

BONUS:  I recently spoke at a workshop with a few panelists on this topic.   There was a lot of information shared during the workshop.  You’re invited to claim your free instant access to a clip of the presentation. You’ll hear about the biggest mistakes that buyers make and avoiding them when purchasing real estate in New York. 0 Brought to you by Sabra Sasson, Esq., a New York City attorney dedicated to helping you secure your purchase, your legal interests and getting you title and the keys to your new home.  Get instant access here.  http://www.sassonrealestateattorney.com/mteSRSaudio

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Real Estate: Tips for Buyers in this New Market

Did you notice the change in the real estate marketplace?

You didn’t notice?

Yes, even six months ago, it was a buyer’s market.  But, as things do, particularly in New York, the market changed, nearly overnight.

It is now a seller’s market.

In other words, there is very little inventory and there are many buyers for every property that is listed for sale.  Interest rates for mortgages are still very low and buyers have buying power, but because there is low inventory, purchase prices are increasing.

There are bidding wars.

So, how can you, as a buyer, position yourself as the “winning” buyer or the “winning” bidder?

I interviewed two stellar New York real estate agents and they spoke to me about what buyers can do to really set themselves apart from the pack.  You can hear the interview in the link below.  What you will hear them speak about includes:

What does that mean that buyers need to be more prepared?

How can a buyer prepare?

_____ kills deals

The importance of engaging in a “_________ negotiation”

It is possible to experience gazumping – and you don’t want to!

Importance of having the right team in place

 

You can listen in to the call with Leonard Gottlieb and Lori Winick if you missed it by clicking “play” below:


To hear future broadcasts with many of our other professionals, please visit this page to sign up for your unique call-in information.

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Tips for Selling Real Estate

Navigating the real estate market in New York, whether you are a buyer or seller, can be a daunting task.  As a seller, there is a lot that you can and need to do in order to sell your property, find a buyer, get the best sales price and get to the closing table.   If you were to do this on your own, you could probably eventually figure it out, but if you had the right agent on your side from the moment you decided to sell, the thorny path to selling can be paved for you so that you can go smoothly from listing your place for sale through closing.

Teresa Staiano, a real estate agent with Prudential Douglas Elliman shares some tips for sellers in a recent call with me which you can hear below, and some of those tips are outlined here:

 

Staging

A vacant home does not appear to most buyers.  In fact, only seven (7%) of people can actually visualize their furniture in it.  So staging is crucial to showing your property.  A staged home has a better chance of selling faster & for a higher price and can decrease the number of days that the property remains on the market.

(see pictures here)

Clutter

According to Teresa, “clutter eats equity” by making the home feel smaller.  It distracts buyers from seeing the property itself because of all of the nick-knacks.  Clutter can make a property feel dirty, cluttered and small which is not attractive to most buyers.  “I would suggest taking down family photos and personal items , as they make the home feel more impersonal and let’s the buyer potentially see themselves there”, says Teresa Staiano.

(see pictures here)

Professional Photos

Professional photographs are a must.  Many buyers today can do their own research online and can see pictures and sometimes take a “virtual tour” of a property before they go out to see it.  Which photographs would be more appealing?  Amateur photos or professional ones which can capture the true essence of your property. 

(see pictures here)

Implementing this tips and strategies may appear to be simple and easy, but using the right professionals and having an “eye” for what buyers are looking for are invaluable.  Listen for more tips from Teresa Staiano by clicking “play” below:


To hear future broadcasts with many of our other professionals, please visit this page to sign up for your unique call-in information.

 

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