Selecting an Agent
The buying and selling of Manhattan townhouses is a complex matter. At first it might seem that by checking local picture books or online sites you could quickly find the right home at the right price.
But a basic rule in Manhattan real estate is that all properties are unique. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike. In this maze of forms, financing, inspections, rent controls, marketing, pricing and negotiating, it makes sense to work with professionals who specialize in townhouses.
While there are 5,000 licensed restate brokers in Manhattan, only 25 specialize in townhouses, and a mere 60 do multiple townhouse transactions each year.
How do I find a Townhouse Specialist?
Well obviously, we would like you to use our services. But please check out the competition. You can find townhouse agents by searching open houses, local advertising, Web sites, referrals from other REALTORS®, recommendations from neighbors and suggestions from lenders, attorneys, financial planners and CPAs. Or if that is too much work, contact us and we will send you a list of other townhouse specialists in your neighborhood.
In many cases buyers will interview several agents before selecting one professional with whom to work. These interviews represent a good opportunity to consider such issues as training, experience, representation and professional certifications.
What should you expect?
Once you select an agent you will want to establish a proper business relationship. You likely know that some agents represent sellers while others represent buyers. Each agent should explain the options available, describe how he or she typically works with individuals and provide you with complete agency disclosures (the ins and outs of your relationship with the agent) as required in New York.
Once hired for the job, the agent will provide you with information detailing current market conditions, financing options and negotiating issues that might apply to a given situation. Remember: Because market conditions can change and the strategies that apply in one negotiation may be inappropriate in another, this information should not be set in stone. During your time in the marketplace agents will keep you updated and alert you to each step in the transaction process.