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6 Reasons To Hire a Buyer’s Broker in NYC

Hiring an experienced buyer’s broker in NYC who offers a discreet buyer agent commission rebate is the most important first step when buying a property in New York City. By hiring a seasoned buyer’s agent who offers a discrete buyer broker commission rebate, you will automatically save money on your deal and benefit from having an experienced negotiator and market expert on your side to navigate through the complexities of your NYC real estate deal.

Here Are 6 Reasons To Hire a Buyer’s Broker in NYC:

Reason #1: You will automatically save money by requesting a buyer’s broker commission rebate

An NYC buyer agent commission rebate is a discreet and automatic way to lock in savings on your purchase. A buyer’s broker can offer a commission rebate by legally sharing with you a portion of the commission the seller has already agreed to pay at closing. NYC broker commission rebates are completely legal and generally considered to be non-taxable income.

Reason #2: You will avoid a risky dual agency arrangement

Dual agency itself occurs when the same real estate salesperson or broker simultaneously represents both the buyer and seller in a transaction. Because the broker cannot provide undivided loyalty to either party, this arrangement increases your risk.

Reason #3: The services of a buyer’s broker in New York City are free

Sellers in NYC typically agree to pay the same total commission regardless of whether a buyer’s broker is involved in a deal. This means that the services of a buyer’s broker are already built into your purchase price.

Reason #4: You will negotiate more effectively and reduce risk

When you consider both the experience and knowledge advantages that a listing agent has over you, it’s not hard to see why an unrepresented buyer is usually unable to negotiate as effectively as a seasoned buyer’s agent. In addition, a NYC buyer’s broker with previous deal experience will more easily be able to identify and correct issues before they put your deal at risk.

Reason #5: Professional advice can increase your chances of a successful outcome

A seasoned buyer’s broker will have done a number of previous deals which are similar to yours. He or she will therefore be able to identify and resolve issues before they put your deal at risk.

Reason #6: New York City’s real estate market is complex

Buying and selling in NYC is much more difficult than in the rest of the country. If you are busy, a first time buyer, a foreign investor or buying a co-op, we suggest that you request a discreet commission rebate and work with a seasoned buyer’s agent.

6-Reasons-to-Hire-a-Buyers-Broker-in-NYC

Infographic Source: https://www.hauseit.com/should-you-hire-a-buyers-broker-in-nyc/

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2 comments

  1. One thing to keep in mind is that the quality of a buyer’s broker can vary greatly in NYC. There are tens of thousands of buyer’s brokers running around the city, but the reality is that 90%+ of them haven’t even done one deal. Why would I entrust an inexperienced agent who just passed his/her licensing exam with the fate of my own $1m+ condo negotiation?

    I was solicited by dozens of inexperienced buyer’s agents from the moment I started attending open houses. I kept thinking to myself – even if the service is free and paid by the seller, why would I ‘hire’ one of these people and basically gift them $30k (3% of $1 million)?

    I ended up working with family friend on my purchase who is an experienced agent in the city. Unfortunately, she didn’t offer a buyer broker commission rebate because I wasn’t knowledgable enough about their existence to ask for a rebate at the time.

    As this article suggests, next time I will absolutely request a buyer broker commission rebate: https://www.linkedin.com/pulse/should-you-hire-buyers-broker-nyc-chris-oliver

  2. Good post OP. It makes very little sense to be unrepresented as a buyer in NYC considering how the commissions are structured. The seller’s total commission is contractually fixed and doesn’t vary if the buyer submits an offer directly to the listing agent, so how can you save money by being unrepresented?

    Don’t believe the nonsense spewed by listing agents about you saving money and having a smoother deal if you don’t have a buyer’s agent. They are obviously out to earn double commission at your expense. I would feel much safer having the protection of a buyer’s agent .. not to mention the fact that a buyer’s agent can offer me a commission rebate.

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