Why List With Me
“Because I have the skills and contacts needed for getting my clients the highest possible price for their apartment or townhouse. I can put more money in your pocket than any other agent on the Upper East Side!”
Getting your perfect Manhattan apartment in 5 easy steps!
Yes, buying a great apartment in Manhattan can be challenging. Inventory is low and square foot prices are high. So what do you do to give yourself that edge over the completion? Here is are 5 steps that will make you a more attractive buyer to any sellers’ agent.
Get a qualified Buyer’s agent
Manhattan is a complicated market whose inventory is 70% Co-op. If you have never purchased in NYC and are unfamiliar with Co-op’s you need a qualified buyer’s agent. Buyer’s agents are free to you and paid for by the seller. A common error with Buyers is the thinking that it is better for them not to have an agent so the Listing Agent can get both sides of the commission. But this is not always the case. Having both sides of the commission also means doing double the work and there are many listing agents out there who would prefer to only represent their sellers.
Know your financials
Traditionally someone who wants to buy a home gets a mortgage pre approval and hits the ground running. Not in NYC. Each building has its own unique financial make up and resale qualification process. You will need to know what your DTI and Liquid reserves are for each unit you will be bidding on.
Get a Mortgage preapproval
Get a Mortgage preapproval with a Mortgage company based in Manhattan and who has experience closing in co-ops and condos in NYC. I can’t tell you how many buyers lose out on their dream home because they are working with a mortgage broker unfamiliar with Manhattan.
Present yourself magnificently to the seller’s agent
Take the time to put your financials in order and use the standard 3 page REBNY Financial form with your offer. The seller’s agent is looking for not only the best price for the seller but also the buyer who will be able present themselves well to the board and get from accepted offer, to signed contract, to board approval and finally the closing table.
Look at lots of property
Know the market, look at apartments 100k higher and 50K lower than your ideal purchase price. Look at buildings, conditions, transportation, amenities; each of these items will educate you and help you be aggressive when your dream apartment comes to light.
When is the Best Time to Sell?
There are a number of factors to consider when listing your property. First and foremost – what is your desired timeline. A good agent with knowledge of the Marketplace can get you current market price in or out of season, the kick is does that season work for you personally. Once a selling season is chosen a good agent will use her skills to develop a marketing strategy that will work best to achieve your desired goal. Here are 5 tips to help you discover the best strategy for you and your property:
Chose an agent that you can relate to and will listen to your story. Selling is a process and you really want a listing agent that understands your goals and timelines.
It’s about Sale Price – Learn the different pricing strategies, ultimately pricing and length of days on the market are important factors on getting your price.
Go to Open Houses in your apartment category. The best way to know your position in the market place is to view your competition.
We all love our homes, but it is important to begin letting go and try not to let your emotion rule how you view your market competition against your property. It is best to stick to the facts, number of rooms, renovated or vintage, amenities. Try to view your unit the same way you view your Open Houses, with a skeptical eye.
Read The Corcoran Report. It is the most up to date Manhattan specific Real Estate Report you can use to view Statistics on the Current Market Season.
Donna Bradbury\The Bradbury Team
Licensed Real Estate Salesperson
The Corcoran Group
1226 Madison Avenue
New York, NY 10128