Kirsten, Home Buyer in 10038

I find many 1 bedrooms I like online in my price range but when I try to find a buyer's agent they tell me there aren't any 1 bedrooms that

Asked by Kirsten, 10038 Mon Dec 21, 2009

low. I feel like they are either lying or lazy. I figure they could say maybe those weren't real listings or maybe they were sold a long time ago, but I've written to some listing agents and the listings were in fact real and were not yet sold. How do I find a buyer's agent who will look for what I want in my price range and not pretend it doesn't exist?

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Alen Moshkovich’s answer
Hi Kirsten.

Why don't you call me and we can discuss which apartments are of interest to you. I don't discriminate againts buyers who don't have multi-million dollar accounts. In fact, most of my buyers today are first time buyers looking for properties under $1M dollars.

To answer your question without knowing anything else other than your price range, I can tell you this. In the $500K price, you are mainly looking at Coops or perhaps Condops. I have a buyer I'm currently working with with the same price range who can probably push it up to $600,000K and the quality of apartments is very limited in the Condo market. There are a few, but on the very small side, around 500sq ft.

If on the other hand you "ARE" looking for a Co-op, than we have much more inventory to consider. Ether case, could you tell me Kirsten which neighborhoods are of interest to you, are you looking for any building amenities, etc...Would you consider Roosevelt Island or even Long Island City?
I can't say why some of these agents flaked on you, maybe because they are on an early vacation for the holidays. I'm in the city and if you would like to talk, I'll be very upfront with you and go over your possible options.


All the best
0 votes Thank Flag Link Wed Dec 23, 2009
How much are they selling for? $40k price could cost the realtor money if they go through the deal. I know one realtor who sends people to the listing agent on those. He lost money doing a few of those deals and no longer handles them.

One other possibility comes to mind. It is possible that you are looking at foreclosures or short sales. Some realtors do not like them. They take to long to do and often the sale falls apart after months of work. Maybe you are talking to agents who are selling more expensive houses and do want to take about the same time to sell a 1 bedroom when they can make more commission on a 2 or 3 bedroom with the same time.

I agree with sean below. Look on here for agents in your area. Then go to their profiles and read their posts in response to other peoples questions. When you find a few who seem decent send an email and try to talk to them in person. If you find one who is willing to work with you and seems knowledgeable choose and work with them.
1 vote Thank Flag Link Tue Dec 22, 2009
You need to go talk to some agents in person, and find out about co-brokering and the limitations and benefits of buyer agency in Brooklyn. It's different there than in Seattle, and I suspect it's different there then in 'most anyplace else in the country.
1 vote Thank Flag Link Tue Dec 22, 2009
Have you tried contacting some agents who are on trulia?

I would reach out to a few and see if some of them can help you. Some agents do not act as buyers agents but I find it odd that you contacted a few and they were not able to help.

Hope someone on trulia will be able to help you out.

have you been pre-approved for the purchase price you are looking at?

Sean Dawes
1 vote Thank Flag Link Mon Dec 21, 2009
What are those reasons? Can you give us some examples?

Manhattan real estate practice, to my understanding, is even crazier than Brooklyn.
0 votes Thank Flag Link Tue Dec 22, 2009
Wish they had a space here for me (the question asker!) to respond to the answers.

Very interesting information. Thank you to everyone! No, these are not short sales or foreclosures. I've seen a bunch of 1 bedrooms in Manhattan for less than $500,000 and I've had several agents tell me you can't get a 1 bedroom in Manhattan for less than $500k, they simply don't exist. And I ask them about the listings I've seen and they always have a reason why those don't count and aren't realistic. I kept wondering if the listings I saw were fake or bait and switch listings that had long since been closed.

I would be perfectly happy for them to tell me they can't make money on those and I'd be better of contacting the sales agent. I would not be offended by this at all and I like to make decisions based on all the facts. What I find strange is the insistence the something doesn't exist.
0 votes Thank Flag Link Tue Dec 22, 2009
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