6 Reasons To Hire a Buyer’s Broker in NYC

Hiring an experienced buyer’s broker in NYC who offers a discreet buyer agent commission rebate is the most important first step when buying a property in New York City. By hiring a seasoned buyer’s agent who offers a discrete buyer broker commission rebate, you will automatically save money on your deal and benefit from having an experienced negotiator and market expert on your side to navigate through the complexities of your NYC real estate deal.

Here Are 6 Reasons To Hire a Buyer’s Broker in NYC:

Reason #1: You will automatically save money by requesting a buyer’s broker commission rebate

An NYC buyer agent commission rebate is a discreet and automatic way to lock in savings on your purchase. A buyer’s broker can offer a commission rebate by legally sharing with you a portion of the commission the seller has already agreed to pay at closing. NYC broker commission rebates are completely legal and generally considered to be non-taxable income.

Reason #2: You will avoid a risky dual agency arrangement

Dual agency itself occurs when the same real estate salesperson or broker simultaneously represents both the buyer and seller in a transaction. Because the broker cannot provide undivided loyalty to either party, this arrangement increases your risk.

Reason #3: The services of a buyer’s broker in New York City are free

Sellers in NYC typically agree to pay the same total commission regardless of whether a buyer’s broker is involved in a deal. This means that the services of a buyer’s broker are already built into your purchase price.

Reason #4: You will negotiate more effectively and reduce risk

When you consider both the experience and knowledge advantages that a listing agent has over you, it’s not hard to see why an unrepresented buyer is usually unable to negotiate as effectively as a seasoned buyer’s agent. In addition, a NYC buyer’s broker with previous deal experience will more easily be able to identify and correct issues before they put your deal at risk.

Reason #5: Professional advice can increase your chances of a successful outcome

A seasoned buyer’s broker will have done a number of previous deals which are similar to yours. He or she will therefore be able to identify and resolve issues before they put your deal at risk.

Reason #6: New York City’s real estate market is complex

Buying and selling in NYC is much more difficult than in the rest of the country. If you are busy, a first time buyer, a foreign investor or buying a co-op, we suggest that you request a discreet commission rebate and work with a seasoned buyer’s agent.

6 Reasons To Hire a Buyer's Broker in NYC

Buyer Commission Rebate NYC

Let’s face it, over 98% of today’s NYC home buyers start their search online. So why use a buyer’s agent when searching for a property in NYC? The single most compelling reason for using a buyer’s agent to represent you on your NYC home purchase is to secure a buyer commission rebate so you can receive a cash rebate at closing. The typical rebate of 1% off your home purchase equals $20,000 for the average NYC home!

What’s the typical rebate you ask? You can usually expect 33% of the commission earned by the buyers’ agent from the listing agent payable to you at closing. In your typical real estate transaction, the seller will pay 6% regardless of whether there is a buyers’ agent involved or not. If the buyer is unrepresented, the listing agent gets to keep all 6%. If there is a buyer agent involved, NYC agents are contractually required by REBNY to “co-broke,” or share 50% of the commission with the buyer’s agent. Keep in mind that the specific rebate amount is subject to the agreement you make between yourself and your buyer’s agent.

In addition to offering you a buyer commission rebate, a quality NYC buyer’s agent also provides you with critical representation during the property search, offer submission, negotiation and closing process.

Visit http://www.hauseit.com/home-buyer-cash-back/ to learn more.

Buyer Commission Rebate NYC

Let’s face it, over 98% of today’s NYC home buyers start their search online. So why use a buyer’s agent when searching for a property in NYC? The single most compelling reason for using a buyer’s agent to represent you on your NYC home purchase is to secure a buyer commission rebate so you can receive a cash rebate at closing. The typical rebate of 1% off your home purchase equals $20,000 for the average NYC home!

What’s the typical rebate you ask? You can usually expect 33% of the commission earned by the buyers’ agent from the listing agent payable to you at closing. In your typical real estate transaction, the seller will pay 6% regardless of whether there is a buyers’ agent involved or not. If the buyer is unrepresented, the listing agent gets to keep all 6%. If there is a buyer agent involved, NYC agents are contractually required by REBNY to “co-broke,” or share 50% of the commission with the buyer’s agent. Keep in mind that the specific rebate amount is subject to the agreement you make between yourself and your buyer’s agent.

In addition to offering you a buyer commission rebate, a quality NYC buyer’s agent also provides you with critical representation during the property search, offer submission, negotiation and closing process.

Visit http://www.hauseit.com/home-buyer-cash-back/ to learn more.

What is the Difference between Co-op vs. Condo Properties in NYC?

Looking to buy a condo or co-op apartment in NYC? Choosing between a condo and a co-op in NYC can be a complicated decision, but we’ve simplified the debate for you by breaking down everything you should consider in this infographic powered by Hauseit. Learn about the differences in pricing, buyer closing costs, board approval, monthly costs, sublet policies and seller closing costs between condominiums and co-op apartments. While condos are considered real property and come with a property deed, co-ops are actually considered personal property and do not come with a traditional real estate deed. Co-op owners actually own shares in the co-op corporation. Having a good understanding of the difference between the two types of units (condos and co-ops) in NYC will allow you to make a more educated decision as to which you should consider investing in.

Both condos and co-ops have advantages and disadvantages. Depending on your personal situation, you may value aspects of one type of unit over the other. For example, if you are interested in renting your property in the future, a condo would make more sense because of the more flexible subletting (renting) policy.

Please include attribution to hauseit.com with this graphic.

Co-op vs Condo NYC