Derek may be a bit biased on this topic, but he does make a point worth pondering: in real estate, there are low barriers to entry (anyone can get their real estate license), but there are high barriers to success. With the right kind of charm and personality, it’s easy for salespeople to disguise themselves as savvy, caring professionals, especially if they’re associated with a well-known national or global company. Be careful, though: can (or will) that broker protect your interests and handle your transaction properly?
Another concern to consider: market specialization. BRG, for instance, focuses solely on investment sales; not apartment rentals or leasing, not condos or co-ops.
Sellers: you’re going to experience a mad rush of interest for your Brooklyn property. Your temptation to save a few bucks by foregoing a good broker may ultimately cost you (one tragic example: underselling). Hiring a competent, knowledgeable, local broker will introduce you to buyers you never knew existed; these are the quality buyers who may be too busy to email or call you. Make sure you do business with buyers who can pay a price that makes sense to you and won’t leave you in a state of remorse.
Bottom line: all brokers are not created equal. Do your homework; Hire the broker who obsessively tracks the market (that means block by block); hire the broker that knows who the best buyers are (even the ones who are not immediately getting in your face). This broker will steer you away from the pitfalls and traps, streamline the complicated process, place you in a position of bargaining strength, and get the deal done.
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