I am ready to buy my first apartment. I have spent the last 3 months looking through Brown Harris Stevens,

Pinguz
Home Buyer
10012

Elliman and Corcoran listings. Each brokerage has 3-5 apartments I'd like to check out. Do I have to contact each broker at each firm or do I pick one and they show me the 10 or 12 apartments I want to see?

Answers (9)
Barbie Lieber
Real Estate Pro
New York, NY

Dear Pinguz, Richard Hamilton gave you excellent advice that you need a broker who can make "winning offers by putting together a dossier on yourself with Pre Qualification, Financial Statement and Basic information on you that is relevant." For purposes herein, I will refer to that as a “Qualified Offer” by a “Qualified Buyer.”
--A Qualified Offer of a Qualified Buyer may be able to convince a seller (who would normally have held out for more $$ to sell or who is considering another higher offer) to proceed with that Qualified Buyer.
--And very attractive and significant in this market is a buyer who is not requiring a financing contingency or a signficiant mortgage. A good broker will be able to ascertain this and push that quality. In summary, the price of an offer is just one facet of this process. Again keep in mind that the highest offer is not always the best. That is why you need a broker who possesses financial, business and real estate savvy plus creativity, as well as the qualities I previously mentioned in my prior answer.
--And these qualities are not only important in the offer stage, but also beforehand. An experienced broker should only be showing you apartments that you can afford to purchase and will have a great likelihood of passing the board, particularly if you are looking to purchase a coop. That means that the broker should understand the buyer’s financial situation, as well the requirements of the buildings whose apartments the buyer is considering. Also working with an excellent mortgage broker is often critical in this stage. I refer many of my purchaser clients to one in particular who is extremely attentive and reliable and puts the interests of my clients first.
-Additionally, an experienced broker works with the real estate attorney in shepherding the process. Sometimes disputes arise during the process, even after the contract is signed, and it is very helpful if the broker, along with the attorney, knows how to resolve rather than inflame the situation so that that the deal moves smoothly.
--Finally, a broker who will best be able to assist a buyer with the board package for coop approval is critical. That broker really needs to be experienced, detail oriented and inquisitive so that he or she can be sure that nothing is missing in the package and that all the information is true and correct. Unfortunately, I have been involved in transactions where, because the buyer’s broker didn’t obtain the necessary information, the listing broker stepped in and took over the process.
Best of luck. Feel free to contact me if you have any questions at 212-949-5586 or 917-414-1190. Barbie Lieber, Esq. http://www.lieberlegal.com.
Disclaimer: This does not create an attorney/client relationship

Fri May 1 2009, 06:55
Eileen Hsu
Agent
New York, NY

As a buyer, you can either contact the listing agents directly arrange all the showings by yourself, or find an agent that you feel most comfortable and confident the will assist you in the apartment buying process. Each of these firms have great agents ( I am an Elliman agent), so if you go to these agents' open houses, talk with them briefly and see if you click with anyone of them. Good Luck.

Fri May 1 2009, 06:43
Richard V Hamil...
Agent
10011

Go to see them at Open Houses, and hit a few more you did not focus on. Find someone you like working with or work directly with the listing agent, sometimes you get a better deal by doing that as comissions can be structured (IE 5% if sold direct and 6% if cobroked, some of the sellers savings may go to you)

Do what makes you comfortable. But don't go calling agents out of the area--Anyone at Halstead, Corcoran, Brown Harris or Douglas Elliman (Among others) can help you, find one who will do their chare, who seems to know what the heck they are talking about and will show you ho to make winning offers by putting together a dossier on yourslef with Pre Qualification, Financial Statement and Basic information on you that is relavent. You can even go ahead and pick a decent attorney, use one who is focused on Manhattan Real Estate

Thu Apr 30 2009, 17:39
Barbie Lieber
Real Estate Pro
New York, NY

Pinguz, I am a real estate attorney and have worked with countless agents and brokers. if you locate a competant real estate broker or agent that you feel comfortable with, you can see all of the listings you locate with that particular agent. (If the right choice is made, the two of you will develop a nice relationship with each other and the broker will be willing to do the leg work for you particularly if you are loyal to him or her.) I believe that is the consensus from all of the brokers below. You may have a friend or colleague that has worked with a particular broker and can make a recommendation. Or you can call a few of the brokers whose listings appeal to you, as well as the brokers who have replied below. Use the broker:
(a) who you best connect with
(b) who really knows the areas in which you are desirous of purchasing or renting
(c) who is willing to spend the time getting to know what your likes and dislikes, desires and needs are
(d) will have drive to seek out units that will best appeal to you (aesthetically and financially),
(e) will have the patience to show you a number of units
(f) who has a good business/real estate acumen (lots of experience)
(g) will be available when you're available to see units.
When you review the websites, each broker or agent typically has a bio describing they're experience and philosophy. Choose a few that appeal to you. If you have any questions or would like to know some of the brokers and agents I have worked with, please feel free to call. Good luck on your search. Barbie Lieber, Esq. of Lieber & Lieber, LLP http://www.lieberlegal.com 212-949-5586 and 917-414-1190.
Disclaimer: This response does not create an attorney/client relationship

Tue Apr 28 2009, 13:53
Yocari Lara
Agent
10013

Hi Pinguz,

If you are ready to go, I'd love to consult with you on location, space, condo/co-op, etc. I represent very few buyers at a time (max 5) to ensure the best service level out there. Because of our (agencies you mentioned + us - Coldwell Banker Previews Intl.) REBNY affiliation, we will be able to see all the units available that fit your needs.

Call me or email me at your convenince so that we can schedule a consultation and get you what you want in the time you need.

Best,
Yocari Lara
W: 646.442.7407

Tue Apr 28 2009, 10:29
Jolie MussNYC/M...
Broker
Upper West Side, New...

First,
Your best approach is to work with an experienced broker or agent that represents buyers. You could also search on your own for listings that say they only require 10% down and contact the seller's agents and set up appointments.

Web Reference: http://joliemuss.com
Tue Apr 28 2009, 09:25
Paul Macapagal...
Agent
New York, NY

Hello Pinguz,

I feel that it is best that you choose the broker that you feel will represent you to the best of his or her ability. All of the brokerages that you have selected are tops in their field and more or less each one has access to all the listing you are looking at. Things can get very confusing very fast if you use multiple brokerages.

Paul Macapagal
Prudential Douglas Elliman
pmacapagal@elliman.com

Tue Apr 28 2009, 07:50
Jose Alduende
Agent
Newark, NJ

As a first time home buyer, you should pick an agent that will work for you and not the seller, as a member of the Leading Real Estate Companies of the Word I could refer you to a Real Estate professional in your area at no cost to you. If you’re interested you could contact Carol Abdo (Referral Coordinator) at 1-800-935-6950.

Tue Apr 28 2009, 07:49
Joe Greene
Broker
10463
FIRST ANSWER

Hi Pinguz,

What I would suggest is working with a dedicated buyer's agent. This person will contact all the proper brokers for you and they will, generally, get paid by the seller. This wll allow you to be represented by an agent who is looking out for your interests and will do a lot of the legwork for you. You will have to sign a contract with the buyer's agent, and you should read that contract thorougly, but since the seller has an agent representative working on their behalf, you should have one too. Please feel free to contact me for more info on Buyer's agency and how it can benefit you. Joegreene@weichert.com & 917-974-2600 (c).

All the best,

Tue Apr 28 2009, 07:48

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 1,983
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback