Today there is a wealth of real estate information online and many intelligent and capable New Yorkers have begun to wonder why working with an agent is still beneficial. Given that real estate agents still thrive, there's got to be some reason they are useful to prospective buyers, right? An agent...
1) Saves you time. (And true as ever, time is money)
2) Makes you a more informed buyer which makes you competitive in a constantly changing market.
3) Helps you navigate through the complicated process of acquiring a home in New York.
4) Finds the right mortgage agent to arrange the necessary financing.
5) Puts together a strong offer package to be competitive in the market.
6) Negotiates the price and terms of the sale more effectively via collegiality shared among agents.
7) Finds the right attorney to represent you.
8) Assembles the best possible board package to qualify you for acceptance, and takes the load off of the process.
9) Coaches you for the Board interview.
10) Prepares you for your closing.
More Common Questions About Agent Representation:
Should you have one agent from each real state company to have access to all properties? What about broker exclusives?
An exclusive listing means that the seller of the property is represented exclusively by a selling agent, not that buyers represented by other brokers cannot view or purchase it. Exclusive listings are co-broked, you will not be missing out on any other agent’s exclusives by working with a Compass agent.
What about Sunday Open Houses?
A great way to see many properties in one day is by going to Sunday open houses. If your agent is unable to go with you, ask him or her to register you for the open houses you wish to attend. When you sign in at each place, be sure to put down your name, your agent’s name and your agent’s phone number. This way you will be represented if you want to make an offer on any of the properties you have seen.
Do I have to pay an agent fee?
No. Sales commissions are paid by the seller; not the buyer. When a property is co-broked, the commission is shared between the seller and buyer’s brokers. The seller pays the same commission whether there are one or two agents involved, so there’s no out-of-pocket expense or advantage to being unrepresented as a buyer.