Buying and Selling Broker

Screenlives, I would love to know who your broker was. We are contemplating doing the same thing – selling our place in Manhattan and buying in Brooklyn. I originally thought I needed an expert in the UWS to sell my place at the best price and another expert in Brooklyn to buy a new place, but am now convinced that one person guiding me through this process will be best. I just don’t know who that person should be. Thanks in advance.

darleneeisenberg

in Agents and Brokers 9 years and 3 months ago

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richiecbk | 9 years and 3 months ago

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Hi Everyone! I’m sure this has been asked in the past, but curious to everyone’s thoughts on using the same broker to list your current apt and find your next apt. Can a broker devote time in both areas? Can you negotiate fee since a single client (me) is helping them on both ends? Thanks!!

resident2 | 9 years and 3 months ago

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If you are going to try to do this; buying a new home and sell current one simultaneously, it will only work if use the same Broker and that Broker needs to really know the local market and all the intricacies of both buildings or you may well get bottle necked somewhere in the process! Buying and selling, unless you are a cash buyer and have the cash in your accounts already to buy your new home, does not normally work because no seller is going to sell to you subject to closing on your current home. A good broker that knows what they are doing will not and should not negotiate their fee for this for many reasons. A) it means that they have a lot of their time and energy in one client (you x 2), it is better for a Broker to have eggs in more baskets! B) If accomplished, this Broker will save you a lot of money in not moving twice, storage fees, rental of temporary housing etc. and so do not be un-appreciative! C) Only a really good Broker will be able to do this, so does not and probably will not negotiate their fee; you only pay on the selling end, not the buying side.

screenlives | 9 years and 3 months ago

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Both selling and buying a home in NYC are incredibly stressful experiences in their own right. Doing both at once is even more so. Moreover, it involves countless transactions and people you don’t normally interact with (mortgage, insurance, lawyers). I used the same broker to sell my place in Manhattan and buy in Brooklyn. I found her guidance through the whole process to be incredibly helpful and couldn’t imagine doing it any other way. Moreover, with two brokers, you’d be the one having to keep each of them up to date as to what was going on with the other one. Each process invariably runs into some obstacles and it’s easier having both hands knowing what the other is doing without having to step in yourself. I agree with the previous poster regarding the fee- it’s not less work and their time/risk factor is greater.

jonbklyn | 9 years and 3 months ago

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The Corcoran broker we used to sell our condo offered to help on our purchase at no cost (by giving us her commission on the purchase transaction). We were also looking to purchase in Bay Ridge where half the listings are with local firms that don’t co-broke — she would advise on each property whether we would be better off negotiating on our own or with her assistance. Ultimately, we bought our house direct with the selling broker. I don’t think you can get a better deal and it’s definitely easier to deal with one broker (on your side, at least). I’d be happy to recommend her, but I can’t promise anything regarding her commissions, of course. She was willing to negotiate because our listing price was high enough.

richiecbk | 9 years and 3 months ago

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jonbklyn – Can you provide more info on: “by giving us her commission on the purchase transaction”? Would love to know more about this.

jonbklyn | 9 years and 3 months ago

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she literally offered to write us a check for the commission she would receive on our purchase. this never happened, though, because we ultimately bought our house from a broker who did not co-broke — so she didn’t receive any commission.

ddiamondnyc | 9 years and 3 months ago

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Hi Richiecbk, The answer to your questions is- absolutely! As an agent, the important thing I would say is to make sure your broker is experienced in both parts of the business. Though it may seem similar because it has to deal with property exchanging hands, the goal for both transactions is completely different in most cases. Having 2 agents may cause an issue of “too many cooks in the kitchen” but also hiring 1 that doesn’t know both sides, may delay the overall process. Hiring an agent or team that understands both sides of the business is your best bet. Feel free to contact me at 347.264.1515 or nborbon@ipg.nyc to discuss this in further detail or if you have any other questions/concerns.

hikatebali | 9 years and 3 months ago

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Hi, I would definitely recommend using the same broker for both your sale and purchase as everyone has mentioned. It makes the process much more seamless. My husband and I just went through this process. The Broker we used did an amazing job helping us sell our condo and purchase a our first brownstone. It was such a smooth process. Her name is Shaniqua Carter https://www.halstead.com/real-estate-agent/shaniqua-carter. Good Luck!