So, you’ve decided to start looking for an apartment for sale in NYC. Congrats! Now, the challenge is figuring out how to find the perfect home for you at the right price. That’s what buyer’s agents are here for!
You see, buying an apartment is somewhat similar to getting divorced. Both parties typically have separate lawyers acting in their individual interests in order to ensure the end result benefits everyone.
The same goes for buying a home. A buyer’s agent is legally bound to help buyers, whereas listing agents—the agent representing the home listing— will act in favor of the seller.
Furthermore, when buying a home in NYC, you’ll want an NYC real estate expert in your corner to help you get the best price possible and ease the process.
Here are the top 4 benefits of using a buyer’s agent:
1. Finding Your Dream Home
Searching for an NYC apartment that meets all of your needs can be a daunting task. A buyer’s agent can help! He or she will take note of your criteria, schedule appointments to see homes that match it, and help explain some of the pros and cons of each property.
2. Submitting The Offer
Once you’ve decided on a property, your buyer’s agent will help you decide how much you should offer based on the value of the home. This is where the expertise of the buyer’s agent is crucial, because going in with too low of an offer may turn off the seller, while going in too high may cause you to overpay for the apartment.
Brandon Marianne Lee, a real estate agent at Triplemint, says, “One of the most sensitive parts of buying a home is getting an accepted offer. If you don’t know how to structure the offer, the seller may not even respond.”
3. Negotiating The Deal
When the seller does not accept or counters your first offer on a home, it is important to have a professional on your team to help you negotiate.
“The buyer’s agent will often know the listing agent on the other side of the deal. We often know how they work and how they’ll respond, which is something that someone who isn’t in the real estate business wouldn’t know,” said Lucas Callejas, real estate agent at Triplemint.
4. Supporting The Closing Process
Once your offer is accepted, the help a buyer’s agent can provide doesn’t stop there. He or she can recommend other professionals to help speed up each step of the process such as:
- Real estate attorneys
- Home inspectors
- Mortgage brokers
If there are any setbacks during the process, your buyer’s agent can also offer advice on how to proceed and act as a mediator between you and the seller, which can save you a lot of time and stress in the long run.
In a city where many people pay for grocery delivery, spending countless hours searching for an apartment in Manhattan is not the best use of your time or money. Enlisting the help of a buyer’s agent can help you in several ways and will make the process much more seamless.
Triplemint Real Estate Agent, Michelle Amodeo, recalls a client who decided to buy a home without using a buyer’s agent and ended up overpaying for the apartment. “Later on, the client wanted my help because the listing agent was not acting in her favor, but it was too late as the offer had already been accepted.”