The Luxury of Having a Broker
Consider the following scenario: It’s 3:00 PM on a weekday and as you’re strenuously typing away at work emails, you get a call from a potential buyer interested in buying your two bedroom Battery Park City condo. He’s traveling overseas tomorrow and only has tonight at 7:00 PM to see your place. He saw the photos online and needs to see it once in person before he makes his offer. If the photos match up, he’ll need a contract emailed ASAP to his lawyer for review. Meanwhile, you have two other serious interested buyers, but they are not offering your ideal sale price. You have decided to send out a contract to each prospect to see who signs first. But wait, tonight’s appointment could make the biggest offer yet! You also have to pick up your daughter from school at 6:00pm because the nanny cancelled due an emergency. How will you manage doing something as rudimentary as showcasing your apartment while getting all of the paperwork sent out to the parties without delay and to your best interest?
As most reasonable people, you probably leave your haircuts to a professional, so why attempt to undertake such a serious and important transaction as a real estate sale on your own?
The Tasks of an Agent
Buying and selling real estate in NYC is not a simple task. The legal obligations, tasks, and forms on a seller’s end can feel endless. Meetings, cancellations, and negotiations are constant. The real estate lawyer you retain for the closing of title comes on board after the fact you have negotiated the sale price, have made assurances, and accepted an offer. Without conducting proper sale comparisons of similar properties in the area, how do you really know how much your property is worth? To your detriment, you may undervalue the home and later resent yourself for making the sale.
With a licensed real estate broker, the leg work is done on your behalf. The broker will meet with the potential buyers and schedule all showings. The broker will negotiate on your behalf. In a co-op or condo sale, the broker typically assists the buyer with their board package. Most importantly, the real estate agent will secure the financial statements from the condo/co-op management. Failure to attain the building’s financials can cause significant delays and jeopardize the sale. With so much at stake, it may now sound silly to try your hand at the unknown.
There are over 27,000 licensed real estate agents in NYC. Why go with Paper Street Real Estate over the many other real estate brokers in Downtown Manhattan? For starters, if you ever had the pleasure of dealing with an agent or broker like we have for personal matters and in business, the level of professionalism (or lack thereof), at times, can be shocking. The founding broker, Kamilla Mishiyeva, is a licensed New York City attorney. Although she will not be acting in the capacity as an attorney on your sale/purchase, you can expect to get that oversight and general legal knowledge that a seasoned lawyer can bring to the table. Garry Zeltser, your agent, has several years in tax auditing and accounting. If this is your first home, he can tell you how much of the proceeds of the sale will be excluded from tax liability. If this is your second or third sale in the last 5 years, we can examine what your taxable exposure will be in the capital gains arena. With us, you get the financial oversight and a wealth of knowledge that’s typically not there with other firms.
This is a major sale you are making. You want to make as much money as possible and we understand that. With respect to broker commissions, we are open to finding a happy medium that everyone can agree to. Our reputation isn’t based on how many deals we make a week. We are more concerned with providing qualitative over quantitative results.
Contact Paper Street Real Estate if you are interested in buying or selling an apartment in the Financial District area of NYC. Our office is conveniently located in the heart of this historic neighborhood at 85 Broad Street New York, NY 10004.
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