Brooklyn Secret Agent: Are Buyers Liars?

Today we bring you the first of an anonymous weekly column about real estate by one of the most experienced agents in Brooklyn:
There’s a saying in residential real estate: Buyers are liars. It’s not very respectful of people trying to find a home and I’ve always wanted not to believe it. So here goes.
Adorable Family wants me to find them a house. Number one priority, above ALL else, is that it be within walking distance to the Berkeley Carroll School. Fair enough; we see about 10 houses over two months. Listings pass us by and nothing is quite right. Next, several of my calls are not returned. Okay, nothing personal: They’ve likely moved on to another agent, or simply stopped looking. When we next meet, as is bound to happen in our small slice of the world, they announce they’ve moved — to Ditmas Park. An impossible walk to the school. Hmmm…

Couple Moving Back to Brooklyn From Boston wants a full-service, ritzy co-op on Prospect Park West. Cost is no object because “we are perfectly qualified and any co-op would be lucky to have us.” They have many friends in the neighborhood and all of them tell me what a talented architect he is. Apartment found, of course needing renovation (architects being incapable of buying a finished product). Contract negotiated and signed, renovation plans being drawn and re-drawn. As I review their co-op application, I realize to my horror that they have absolutely no income. Hmmm…

Very Busy and Important Lawyer is looking for a house to live in and produce some rental income. It is critical that I do not waste his time. The house can be in Brooklyn Heights or Cobble Hill and it must be completely renovated. His budget is reasonable and I look forward to efficiently finding the best choice for him. The problem is that he cannot abide anyone else’s taste. What does he buy? The house needing a gut renovation, from the foundation up. Hmmm…

Are these buyers liars? I’ve come to believe that they are not. With such an important purchase, it is only natural to revise one’s expectations, probably several times. In the face of reality one cannot help but consider options that were not initially on the table. It is my job to present different ideas and make sure that buyers keep an open mind. Most of the historic neighborhoods in Brooklyn have very limited supply of properties so flexibility is key in a successful search. But buyers, please, keep me up to date on your thinking!