Since this market is so competitive and rather unusual, no matter what the economic climate is, it is important to know some of the tricks that can make the selling process easy.
First, keep in mind that a successful sale depends on a number of different bodies. You need to get approval from the lenders, who need to approve both your apartment and your building, and you need to have approval from both the co-op and condo boards before you can successfully sell your home. Keep this fact in mind as you look to sell your New York real estate, and remember that sometimes it takes multiple offers before a home is completely sold.
Since there are so many hoops to jump through when it comes to selling a home, most experts recommend listing the home with a real estate company. While the for-sale-by-owner approach works in some smaller markets, there is so much more in terms of paperwork when it comes to selling one of these highly-covetable New York City homes, that the process can often end up costing more time and money than its worth.
When a home is listed as “for sale by owner” typically this piece of New York real estate won’t ever appear on the radar of most buyers’ brokers. The majority of buying in New York, particularly in Manhattan use brokers because homes tend to go so quickly in this competitive market. Not listing with a broker, means that many potential buyers, with the money needed to purchase the home, may be missing out on your property.
Another thing to keep in mind, is that without a seller’s broker, the seller may be responsible for preparing the buyer for any board meetings or interviews. This can be make or break when it comes to finalizing the sale of a property, and it is a big responsibility for the seller to take on.
However, sellers who decide to partner with a broker to help them through the process can often secure much higher deals and enjoy getting their piece of New York real estate sold quickly and without any additional hassle.