1. So you’re looking for a listing that isn’t on the market yet or is being held off market for pure sex appeal? These are rare, far, few and circumstantial. You bet your bottom dollar ANY and EVERY seller/landlord wants his or her listing broadcasted on every listing site known to mankind to ensure the highest foot traffic, resulting in the highest selling price and fastest deal. If I were representing either a seller or a landlord and the listing was not being widely advertised, I would most likely lose my exclusive. There are seldom instances that we as agents may know about a past client who is considering selling or we hear through the grapevine of a listing that is coming to market in the next few days. Regardless, any savvy, business-minded individual will want his or her property to get due exposure on the open market to garner as many offers as possible, even if just for a single week to spark a best and final. With rentals, the minute the landlord knows the tenant is leaving, the exclusive agent is notified immediately with the  expectation that listing is live to the world before anyone has a chance to breathe. If a listing agent happens to catch wind that a tenant is not renewing his or her lease, the agent will still need to wait for the price to be assessed by the landlord, which will likely coincide with the listing going live and those rental flood gates opening wide.

 

2. We touched on this last month when we discussed extensively how broker’s commission works with rentals – every broker in Manhattan essentially has access to all of the same inventory. Now there are some big changes coming to Streeteasy, which we’ll discuss in August because you as consumers will be losing access to a very large berth of the market very soon, but in addition to the listings the consumer can access publicly through this site (Streeteasy being the only reputable, honest one), we as brokers have our own multiple listing services and can access countless landlord’s posted availability reports.  So say you contact agents from 5 different firms and tell each to show their best hand – chances are 7/10 properties will all be the same. I can’t tell you how many times I confirm appointments with my client’s names and find that they’ve seen the property or are scheduled to see it – and this is after I give my whole, “I only work with people who only work with me” speech. Purely from an inventory perspective, what differentiates one agent from the next is how how well they know the market and neighborhood; how vested they are in your search; how well they listen to you and mediate your expectations; and their tactic with regards to finding you a home. Good agents will only show you quality properties that fit your search and are represented by solid individuals/are strong buildings; the not-so-good agents will bait-and-switch you or show you a handful of horrible homes and one stellar place, pushing you into the obvious choice. It’s a very warm, cuddly industry, I swear. 

Since everyone pays a fee in some regard in this city (be it amortized into your rent with a no-fee apartment or to a broker – buyers, disregard, you don’t pay commission, yayyy!), the real priority should go to the quality of the broker you use and the trust you have in them finding you a safe and happy home. No one gets paid until the deal closes so make sure you have someone who has your best interest at heart and is in it with you for the long haul and devoted to finding a spot where you truly feel at home – be it the first property you see or months upon months of ravaging the city for your cozy space. While we prefer the prior, the later always comes with some type of adventure 🙂