I think they are great - I used one once (10 years ago) when I was looking in Westchester. I don't really see a downside. They cost you nothing (they get paid by seller) and they help you navigate the search and broeker the deal. Ours had us go look at a place that we would have never considered on paper - he insisted we at least look --- we ended up buying it. The best part is that they aren't representing any sellers so they have no vested interest. Seems like regular brokers are suspect...naturally they make more money if they show you spaces they represent PLUS to make more commission they would want to sell for the highest price they can. How can you trust them?

Posted by: clintonhillgirl at October 23, 2009 10:17 AM in response to Using a Buyers Agent?

We bought ours and had it installed by Verrazano Flooring. We love it. If you email me I can send photos.

Posted by: clintonhillgirl at June 16, 2009 8:21 PM in response to Bamboo flooring - recommendation

I sold a place on my own once...and I actually bought my current home from a homeowner. And previous poster newhomer is right on. From my experience, the lawyers work out the primary details. Never felt the need for a broker.

Posted by: clintonhillgirl at May 10, 2009 6:44 PM in response to Broker or FSBO

Since the Clinton Hill Co-Ops was mentioned, I have lived in a 1-bedroom there for the past 4 years. I love it - close to subway, the neighborhood is great, super friendly neighbors, and really spacious.

But, as was also mentioned earlier.. if you are planning a family, consider if a 1-bedroom is enough ... I am now pregnant so I am thinking about selling -- hoping to get a 2-bedroom in the co-ops. There is a dining area that lots of people convert to a nursery, which is a thought.

I haven't put the place on the market, as it's not a huge rush (the baby is small at least the first year - haha). But if you have decided to buy - it's recently renovated (kitchen/floors), high floor with views, and way less than $450k - you can email me at clintonhill_girl@yahoo.com

Posted by: clintonhillgirl at April 26, 2009 3:49 PM in response to Good time young couple to buy?

JTB is correct on many accounts though fails to point out that brokers generally have faster accessto new listings, and a buyers broker can get you in to see a place before its publicly listed on the internet. I would also say that seller brokers have limited contracts, so their primary goal is to sell the place - true ideally at the highest price, but getting the sale done is more important. I know many seller borkers who will try to convince a seller to accept a low offer, just to get the place sold. And when a buyers broker is in the picture, there are often side discussions amongst the brokers to try to get a deal done without conspiring to get the highest price (which is illegal).

Posted by: saminthehood at October 23, 2009 11:44 AM in response to Using a Buyers Agent?

I completely disagree -- every buyer should have someone on his/her side. The seller's broker's undivided loyalty is to the seller. Buyer's brokers also bring a wealth of experience with previous transactions and can offer all kinds of advice -- from what to look for in evaluating different buildings, co-ops vs. condos, referrals to mortgage brokers, lawyers, inspectors, movers, and more.

What you can't see on the internet, for example, is that the board of such-and-such co-op doesn't like board packages submitted in binders, or doesn't meet during the month of August; or the people who bought the townhouse next to the one you're looking at are getting divorced and will need to sell at a good price in a few months, etc.

And in terms of direct vs. co-broke deals I will say that, as a broker, yes, a direct deal is nice, but it's also nice to do a co-broke so that you don't have to deal with the buyer and the seller, both of whom may be high maintenance. Most brokers I work with welcome co-brokes and those who don't generally don't have the best properties anyway.

And any broker who puts his/her own interests ahead of his seller's is violating his contract with that seller. The broker should promote the offer that is best for the seller, period -- and in the case of equivalent offers that means considering the two buyers' financial positions, downpayment, contingencies, mortgage pre-approval, and liklihood to be approved by the board. Believe me, no broker wants to push a less-than-qualified buyer only to have the deal fall apart and send everyone back to square one.

In the end, internet aside, there is no match for the human element. Wouldn't it be nice to have someone to whom you could ask all your questions and whose job is to answer them for you, while providing you with market intelligence and ideas you may not have considered -- for free? That is the kind of buyer's broker you want to work with.

Posted by: babs at October 23, 2009 11:49 AM in response to Using a Buyers Agent?

babs did you copy that off of Corcoran sales literature? What world do you live in? "every buyer should have someone on his/her side" -- right, but the point is, this is New York, and the person you think is at your side will screw you. You are NOT on our side. Everyone knows not to trust you for "brokers, lawyers, inspectors"

Any of the special information about "board packages in binders" etc is going to be known by the seller broker.

OK, "any broker who puts his/her own interests ahead of his seller's is violating his contract with that seller" -- you're saying that doesn't happen? what's your point?

Would you really have us believe that a seller broker wants to give up 3% of his commission so he doesn't have to "deal with" the buyer? Do you truly think we were born yesterday?

If you brokers could only learn to lay down a thinner layer of bullshit you would be so much more successful.

That disingenuous crap really pisses me off. seriously I am pissed off now. We're trying to have an honest conversation without your broker crap.

Posted by: joe_the_bummer at October 23, 2009 12:03 PM in response to Using a Buyers Agent?

Are you paying the buyer's broker yourself? Otherwise they work for the seller. I have just found most of them get in the way. You can view the same MLS properties they can.

Posted by: mopar at October 23, 2009 12:05 PM in response to Using a Buyers Agent?

OP here. Thanks for the input. We have been working with a buyers agent and had 3 different places slip through our fingers, so we're wondering if it's us or our agent or what. I thought this was supposed to be a buyer's market?

I did just hear that existing home sales have spiked in the past month, so maybe it's just more competitive right now.

Posted by: noodlemanias at October 23, 2009 12:07 PM in response to Using a Buyers Agent?

of course I meant "half of his commission" in my previous post. let's please only consider opinions of non-brokers.

Posted by: joe_the_bummer at October 23, 2009 12:11 PM in response to Using a Buyers Agent?

To combine two posts...

"Every buyer should have someone on his/her side.
The seller's broker's undivided loyalty is to the seller.
Buyer's brokers also bring a wealth of experience with previous transactions and can offer all kinds of advice"....

....."the buyers broker is also getting a percentage of the selling price"

jus sayn

Posted by: jasetheace at October 23, 2009 12:35 PM in response to Using a Buyers Agent?

Sorry, joe, I don't work for Corcoran, so I'm not familiar with their sales pitch when working with buyers. And I'm not saying there aren't less-than-honest brokers out there; I'm just saying that a good one won't betray his/her client. And, yes, at times I would rather give up half of my commission for a smoother, speedier closing so that I can devote my time to other, more lucrative, areas. And I'm successful enough as it is, thanks, so I don't think that most of my clients and customers feel I'm conning them in any way.

Unless Mr. Brownstoner wants to restrict posting here to non-brokers only you'll just have to deal with it, joe.

90% of the properties in brownstone Brooklyn aren't on the Brooklyn MLS, which is primarily in southern Brooklyn and is subscribed to only by smaller firms and those not even in Brooklyn.

But noodlemania, if you've lost three places, it's time to ask your agent (and yourself) why. Are your offers too low? Are your offers presented in their best light (meaning do your finances look as good as they should)? Do you have a good mortgage pre-approval? Are you putting a sufficient amount down?

As a seller, I would go with a lower offer from someone who had a higher downpayment and better mortgage pre-approval/pre-qual than a higher offer from a low down payment person, because the liklihood of closing is much higher.

This is not a buyers' market in the sense many people here would like to understand. It doesn't mean that you can submit lowball offers and have them embraced with open arms. Most selling prices out there now are already considerably lower than they would have been a year or two (or even three) ago, and I personally have seen several properties go for over ask. Again, your agent is the best person to counsel you on the state of the market -- and if you don't feel you're getting the information and attention you need either speak up or change agents. Good luck to you in anay case.

Posted by: babs at October 23, 2009 12:36 PM in response to Using a Buyers Agent?

And yes, jace, the fact that the seller is paying the entire commission may seem counter-intuitive for a buyers' broker acting in the buyer's best interests, but most brokers I know do a good job of keeping it that way. And isn't it in the buyers' best interests to get the property they want as smoothly and at as fair a price as possible?

Posted by: babs at October 23, 2009 12:40 PM in response to Using a Buyers Agent?

I thing Babs said it best, "joe the bummer" is just that a "bummer" what would you expect froma guy who uses MLS for his Brooklyn listings search?!?

Posted by: IrieMan at October 23, 2009 1:38 PM in response to Using a Buyers Agent?