If you have not been researching property in Manhattan online, you might be missing the boat, then again you are reading this blog. There is so much information online, utilize it. There are so many great websites that help locate properties, find comps for pricing and educate the consumer. All range in content and difficulty a few that definitely make their mark are Trulia , Zillow and even standard Broker’s Websites, are valuable tools for any house hunter. Clients sometimes ask me, “Why should we hire a real estate agent?” Some feel they could buy or sell a home easily on their own.  Be it through the Internet, even regular marketing and advertising mediums without an agent at their side it does seem do-able. While it is true that some sellers and buyers succeed, many do not. I welcome the challenge. I happily endorse these tools and sites.  i honestly think it makes brokers have to work harder to be better and not hide behind secret data. Just last night I felt I owed a client the recent closing information on a property they were bidding on. The current owner is seek a 200K plus profit from one year ago.  If I didn’t share that, they could have found it on there own and perhaps decide to proceed with someone else.  Information needs to be shared and utilized.

While it is more work and sometimes “harried” to keep up, it doesn’t bother me because it just makes everyone work smarter, and the end result should be better professionals and consumer relations. 

The truth is it’s becoming totally possible to do it all on your own and save some $$$, But just be aware that the information isn’t the only thing important in a transaction. It is just a fraction in the whole equation. That being said, here are 10 reasons why you might want to employ a professional real estate agent.

1. Education & Experience in the Manhattan Market
You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. They do! The trick is to find the right person to showcase your home. For the most part, most will cost about the same. Why not hire a person with more education and experience than you? Personality and availability are two key factors that you should seek out in an agent.  Would you buy a home from this person?

2. Buyer Buffers
Agents take the ”Junk Mail” and “Fakes” out of your property showings and visits. Some companies and unethical brokers use the LURE of a faux listing to get you to call, or they inform you of a buyer if you sign a listing. A licensed professional can help weed out these findings and show you what is really on the market. If you’re a seller, the agent will diplomatically show your home, filter calls and meet everyone interested in the property.  this will save you time money and gray hairs.

3. Manhattan Neighborhood Know How
Some agents specialize in one area ad some rule the entire city. Usually agents either possess in depth knowledge or they know where to find out all about your neighborhood. Comparable sales and stats will be delivered, and help you find your direction you regarding more data on schools, crime or demographics. For example, you may know that a home down the block was on the market for $1,350,000, but an agent will know it had renovations and sold at $1,285,000 after 65 days on the market and a board turn down.

4. Pricing in NYC
Agents do not select prices for sellers or buyers. However, we help guide clients to make the right choices for themselves. If a listing is at 7%, for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy. The best way to price a property is have a formula and build or subtract from there.

5. Information on the Manhattan Market
This will rule your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

6. Networking in New York
Agents network with other professionals, many of whom provide services that you will need to buy or sell. Lawyers, Appraisers, Advertisers, and Bankers to name a few. Due to liability, many agents will hesitate to recommend on certain individual or company over another, but they do know who products and has a solid reputation for efficiency, competency and competitive pricing.  Smart Agents should give you a how to or a list of references with professionals they like and have had success with in the past.However, it is up to you, so call ask questions and that should help you make a wise selection rom a suggested list.

7. Negotiation Skills & Confidentiality
Locate and Negotiate.  That is the role of agents. Just like you are goodat your job, most can remove themselves from the emotional aspects of the transaction and because they are skilled and deal with this daily. It’s part of their job description. They are professionals who present their client’s case in the best light and agree to hold client information confidential from competing interests.

8. Paper work, paper work, paper work!
The packages alone are an undertaking. It is the first impression a board or management company will get from the buyer.  Make it pop. Today’s purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom.  Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!

9. Post Closing Closure
Even the smoothest transactions that close without complications can come back to bite you in the…well you know what. Questions about taxes, assessments and other issues are taken away from your machine and the agent should step in and take over.

10. Develop Relationships for Future Business in the Big Apple
Business for both parties can grow, you hopefully have built trust and a fruitful transaction. Continue to know, learn and communicate with your agent as I am sure they will do the same. Knowledge is power and being in the know is key with any transaction.