Homebuyers are not naturally inclined to hire a real estate agent. First-time buyers may be anxious about overbearing agents that could take over the process. On the other hand, experienced buyers may feel that they know enough to do everything themselves. But considering buying a home is the biggest financial investment most people will make, it makes more than enough sense to involve someone trained to handle real estate. A real estate professional can streamline the home-buying process in the following important ways.
Expert Direction on the Local Market and Pricing
The primary reason to hire a buyer’s agent is that they understand the pricing trends for home for sale in Manhattan and NYC. Real estate agents work in the real estate market and are best placed to conduct purchase negotiations. You may think your negotiating skills can get you a good price but you don’t know what a “good” price is unless you understand the current market conditions. Because of their line of work, agents have easy and constant access to comparable sales data. They can leverage local trends to get you the best price possible for your new Manhattan home.
Access to Inventory and Expert Advice – For Free
Real estate agents don’t just know how to find a home in Manhattan, they also know where. Nearly all the housing inventory in Manhattan is controlled by listing agents. In fact, 96 percent of all listings in NYC are listed by agents and only 4 percent by homeowners. And as your buyer’s agent will explain to you, real estate commissions for all involved agents are paid by the seller. An agent commission is usually built into the sale price, whether you hire one or not. This means working with an agent allows you access to inventory and expert advice, at no cost.
A Home That Meets Your Needs
Manhattan is an exciting and vibrant city, widely considered the cultural hub of NYC. But you will only enjoy living in Manhattan if you find a home and neighborhood that meets your needs. This is why having a buyer’s agent is crucial. While a listing agent’s loyalty is to the seller, the buyer’s agent’s only job is to get you the home you want. Your agent considers the size of your family, your work needs, your budget, and other factors to make sure you do not get shortchanged on your new home.
Board Package Applications
The board package application process is arguably the most daunting part of buying Manhattan real estate. Co-op buildings, in particular, involve stringent guidelines that can overwhelm any buyer. When you hire an agent, they take care of this and all other paperwork on your behalf. Your agent arranges inspections, negotiates with the seller, and more.
Explore Homes for Sale in Manhattan with a Real Estate Agent
Technological advancements have made it possible for homebuyers to browse listed homes online. And while this is impressive, nobody knows the real estate market better than real estate professionals. Many homebuyers know this, which is why 90 percent of the 5,000 annual real estate transactions in NYC involve a listing and buyer’s agent. If you want to buy a home in Manhattan, rest easy and trust the Novo Team with your needs. Their team of professionals will get you the home you want.