“Does it matter if your prospective realtor already has a listing in the building?”
When you really stop and think about it, that is a very interesting question. You would think it wouldn’t be an issue.  You might actually think it would be beneficial, but that depends on a couple of factors. The first and probably most important factor is your realtor. Do you think you realtor has your best interests at heart, or are they looking at you as merely a commission check?  It is really important to consider the facts before rushing to a conclusion. A realtor’s mission is to represent you and your apartment during the sale of your apartment, but also to make money. However, realtors rely on client recommendations. In order for realtors to be successful in the long run, they know it is imperative their goals align with their clients’. Bad client experiences can cost realtors more than just one commission, it can kill entire businesses. Even though each commission is important, a successful realtor focuses on the long term picture.
The Realtor
Your realtor is a licensed professional who has gone through a rigorous certification process usually lasting several months. Tack on additional education and ethics classes that must be completed annually and you realize that realtors are heavily invested in their careers. They put in a lot of their own personal time and finances learning the ropes in order to list your NYC apartment for sale.
With that being said, you still want the best representing you and your apartment when it is time to sell. The team at TripleMint is well known for their expertise within the New York City real estate market — a market that can change at a moment’s notice. Â You want a brokerage that stays on top of the market to help you adapt to change. TripleMint is the brokerage people rely on.
Worst Case Scenario
There really is only one potential drawback if your realtor already has a listing in your building. Hypothetically, your listing could be used as a bait and switch apartment.
What is bait and switch? Think of it like a car dealership. They advertise this amazing car at an unbelievably affordable price. You get to the dealership, but before they show you that amazing bargain, they show you the model right above the previously advertised one. Then they show you an even more expensive model above that one. You know the one with the heated seats, heated steering wheel, and shiatsu massage in the drivers seat! Maybe no shiatsu, but you get the picture.
The point is a lot of companies will advertise the deal to bring foot traffic through the door, but then show the XXL model with all of the amenities. Ask any good salesperson: a simple way to secure a deal is to get the buyer to fear losing the item in question. Tell someone they can’t have something — then that’s all want. The classic bait and switch tactic is used to sell products from jewelry to refrigerators and everything in between. And most of these industries pay their sales people on a commission basis. The higher the sale the higher commission.
Is this tactic really a concern when listing your apartment? Unlike car or furniture stores, there is only one apartment like yours available for sale. Even if your realtor were to use your apartment as the bait, potential buyers will still see your apartment even after viewing the nicer listing — especially if your apartment is at a good price point. People might be swayed to buy a more expensive car or refrigerator, but with an apartment, buyers usually stick to the confines of their budgets. Of course an apartment at $800,000 will be much nicer than an apartment at $500,000, but if the buyer can only afford $500,000, that’s the end of the story.
Most realtors are going to work just as hard selling your apartment even if they have multiple listings already in the building. The realtor is not the concern. If realtors don’t sell your apartment, they will not get paid.  The real concern is how you list your own apartment for sale. As my wife likes to say, I’m a dreamer. Unfortunately, there is no middle ground for me. I have a hard time differentiating from what I want to what I can realistically get. Hey, what’s wrong with having dreams, right? Well as much as I think it is good to dream, some things have to be based in reality. If you price your apartment out of the market, it won’t sell and you won’t cash out on your equity or get to move to the next stage in your life. Listen to your realtor, and trust what they have to say. Your success will be their success.
