choosing a buyer's agent

need someone to tell you what you like?
need someone to walk with you at open houses to talk in your ear?
need someone to pressure you to pull the trigger?
These are all bad reasons.
need someone to do research on the quality of a building or it's ability for resale?
better reason.
need someone to do you homework?
better reason (expensive)
Pick a broker that is long established in the hood of choice, make sure you are very clear about what you want and what you are willing to pay and refuse to see anything that falls to far from that.

call west81st. His company rebates more than half of the 3% commision the broker gets. And he is great! I met him through SE. I don't know if you are looking in the UWS, but he knows every apt there.

I have a whole chunk in my book about this: http://tinyurl.com/2ag28z

It's a memoir, but there's a lot of self-help tips too, and I think it's probably worth your ten bucks.

Basically, you need to think about what you need from a buyers' agent -- legwork? vetting buildings? negotiation skills?

and then you should interview three agents. It'll get pretty clear from there.

ali r.
{downtown broker}

"call west81st. His company rebates more than half of the 3% commision the broker gets."

Really? What co is that?

KISS: I work with Keith Burkhardt. The company site provides background info:
http://www.theburkhardtgroup.com/about.php

Please note that I'm not listed on the "Agents" page. Keith does hold my license and you can reach me via company e-mail. Just put my first name - Michael - in front of @theburkhardtgroup.com.

Contrary to Mimi's generous praise, I'm still learning, building by building, line by line. She's right about the rebates, though.

Thanks for your interest.

Thanks W81. Always admired your work here (though I miss your OH writeups -- does being a broker mean you can't do that anymore?)

KISS: I hope to crank up the open house reports soon. The biggest obstacle has been finding time between my day job, the new RE sideline, family responsibilities and a busy period for our Tenants' Association.

slacker

I'm taking recos for brokers who know UWS well, particularly PS 87 & 9 and around the museum/planetarium areas.

We are in the <$1.2 price point for a 2BR convertible to a 3 and are looking for someone young or green who will hustle and proactively find listings that meet our criteria. We've lost a couple of places that we liked in the past month because the places weren't on our radar quickly enough.

West81st you sound good, but you sound really busy with a day job.

okga, somebody young or green will find the same listings than you and me in 15 minutes, as will somebody old and experienced. And he/she might know less than u. I will never make a broker choice based on age.

okgal02: That's a totally legitimate preference. I appreciate your candor.

If you're concerned about missing properties because you don't move fast enough, I might be the wrong agent for you regardless of my other obligations. That said, I'd be happy to share some suggestions via e-mail, with no obligation on your side.

i had a surprisingly great experience with a new broker in Chicago selling my apartment who was trying to get more experience under his belt. it wasn't an age thing but rather how he went the extra mile. super organized, provided status updates on showings/interest, had answers to our questions before we asked and followed up on the ones that he didn't know. so let me clarify, its not youth i'm after, rather a "hustling" factor. i didn't think my price point was high enough to attract interest from the very experienced brokers. but brokers, please feel free to prove me wrong and identify yourselves.

west81 - yes, moving fast is imperative, so i appreciate your honesty. i'll email you directly. thanks!

Seller brokers hustle. Buyer's brokers see what is listed, send the list to you, make the appointments. And they really do it fast, because they are quite happy they have a buyer, who is the one with the money. Selling is not buying.

might i suggest keith marder a new broker at halstead, i have had a great experience with him, he is smart and very responsive. hard working and a great guy. kmarder@halstead,com

mimi - yes, the buyer has the money but its the seller that pays the broker. selling is the other side of the buy. both buyers and sellers agents should be hustling. i have a broker now who is not fast nor thorough enough, hence i'm missing listings entirely and listings are getting multiple offers before we can even see the places. this broker isn't going to get paid unless we buy. hence i'm asking for recos - because we need a new broker.

why not just do a search here and set up alerts? remember the old cliche....if you want something done right....etc.

OkGal02- I'm in the same boat. I'm perfectly happy doing tons of internet research to look for properties and check listings. I don't even mind making appointments. But I feel like I need a broker once I actually find something I like and its time to do the offer-counter-offer-negotiation and building vetting.
Is there anyone who loved their downtown Manhattan-focused broker?

The big problem: odds are that what you actually need in a broker are a list of things you don't want because you think you don't need them. Just like brokers "buys" listings by pricing them too high, Buyer's Brokers "buy" buyers by doing what every salesperson of any item should do: figure out what it is that the purchaser wants to hear, and tell it to them (quit seriously, that has been my single biggest peice of advice to those going into Board interviews: listen carefully to the questions, figure out what the answer that the board wants to hear is, and tell them that answer. Once you are in, they can't kick you out simply because you gave a slightly misleading answer to some question in your interview).

Prime example: How would you react when interviewing a Broker to represent you, you asked what they would do differently than the other brokers and they answered "I would force you to look at apartment that were not the one's you wanted to look at; some in different neighborhoods than you wanted, some without some feature which you had as a "must have", etc."?????????

Well, unfortunately, that is one of the biggest things that a buyer's broker brings to the table: the ability to get the buyer to look at properties which they "passed on", but the broker knows they really should at least take a gander at them. So how do you interview for the one who is best able to do that, and what do you do even when you find them?

okgal02 - Would you mind sharing the contact information for your broker in Chicago? We will be looking to sell early next year for a move to NYC. I'd like to find someone like you described to help sell our place. Thanks in advance.

Somehow missed this thread last time around. But I, too, would like to recommend West81. He was incredibly thorough and reliable ---and has an uncanny knowledge about the inventory. Not to mention, a helluva guy. Unfortunately, I found him closer to the end of my search. Our impetus was to buy and move before our lease was up. We have decided to rent one more year and have a more leisurely search. I had wanted to forego a buyer's broker because I wanted to be able to negotiate a lower price via the 3% due to the broker. But I found W81 firm's discounted price - and superior knowledge-- far more valuable than all the extra work I was putting into the search.

Pick someone you like. If you don't like them, nothing they do for you will matter because the hateful process of buying/selling RE in NYC will be made practically intolerable. If you connect great. If not, walk away. You can't work with someone who makes you feel like you need a shower (in a bad way) after every conversation.

I think that if you're focused on a particular neighborhood that a buyer's broker can help you sort through all the potential buildings in that area in terms of the reputations of each building. Yes, I know that it sounds strange that a building would have a reputation, but they seem to. Sometimes a buiding has developed a bad word of word which I can't research on this site but is known to the local brokers.

slatterj - give me an email address and i can introduce you to each other.

slatterj - paul is the agent's name. pmdesign3@gmail.com

nred,

I've read through all of these responses. Referrals are always a great way to go when choosing a broker -- and I always think it is a good idea to meet a couple agents to see who you feel most comfortable with. A broker's job is not to 'get you to buy', by any means. Their job is to be familiar with the current market, familiar with your neighborhood, have access to comps in the area as well as recent sales, and also have a great 'team' surrounding them (attorney, mortgage broker, lenders, etc...). If you are looking within the co-op market, they should know the general financial requirements necessary to pass a co-op board as well as how to put a board packet together that puts you in the absolute best light possible. With all of the information they provide, a buyer's broker should be working for YOU -- providing you with all of the necessary details, listings, and information that will help you make the best living/financial decision for you. I, personally, feel that it is a broker's job (as well) to look out for your resale value (while you are taking on the 'emotional' connection to the property you choose in the moment.)

I know that people within the conversation thread have made recommendations for you already. If you are still on the lookout for a buyer's broker, feel free to get in touch. My partner and I know the UWS very well and would be happy to have a conversation with you at the very least.

Feel free to "meet" us at our link on Top Agent - and you can also see a great deal of testimonials about our customer service. We were just voted (within the industry) as 2 of the top 100 agents in the city:

http://www.youtube.com/watch?v=T5o1l7nmBsw

You have two of the highest caliber agents working with you should you decide to go with our team. Again, there are more questions to be asked about your search - and should we find it to be a match, we can absolutely take it from there.

Brad Malow
Charles Rutenberg Realty
212-688-1000
bmalow@rutenbergrealtyny.com