1. Buyer's (and Seller's) Best Friend
Working WithReal Estate Brokers
By Keith Loria
Published in the Cooperator:
So to recap:brokers and realtors are both licensed salespeople, and the broker and salesperson are both
agents. Anyone who is employed to work for you is an agent — and understanding agency and the duties
that come with it is key.
Working for You
When it’s time to find a broker, there are some important things to look for. Youwant someone who is
experienced and knows the market well.
“A broker should be familiar with the market and what the competition is selling,”says Joseph
Bulfamante, an agent with Lawrence Properties in Manhattan. “They need to know what the recent sales
are in that building. It’s very important that they do their homework and have a familiarity with it.”
A broker or agent should also work to educate their consumer —regardless ofwhether that consumeris a
buyer or seller. A buyermay havefocused on a given neighborhood,or street,or single building, and may
have developed unrealistic expectations. Most New Y ork City buyers and sellers are relatively astute,
however, and have a feel for what market-rate prices are. By the same token,a broker must still give them
realistic numbers, no matterhow savvy the buyer may seem from the start.