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When you’re enlisting the assistance of an agent to sell your apartment—and signing a contract of exclusivity with him/her—it’s essential to have a good feeling about the relationship. After all, you will be spending plenty of time working together over the next few months, and there may be moments of stress now and then. How do you know if an agent is the right person to sell your home? Do a little detective work, and ask a few pointed questions, before you sign on the dotted line. Above all, finding an agent whose personal and professional values align with yours is the real secret to success.
When you decide to sell an apartment in New York City, it’s common practice to sign an exclusive listing agreement with a broker. The contract, which typically runs six months or longer, spells out exactly how your apartment will be marketed, what access your broker will have to your place (and when), and how much your agent will be paid for his/her services.
It’s not just glam addresses like the Sherry Netherland and the Dakota that have star-studded mythologies. In New York CIty, even an unassuming residential tower or converted warehouse can carry a surprisingly scintillating history. Doing a little digging to discover your building’s backstory can be an easy and irresistible attention-getter for your apartment. Because, really, who wouldn’t want to own the apartment where Truman Capote’s cook’s cousin’s brother-in-law once lived?
Unless you’re willing to dial down your price expectations, and you aren’t, you’ve got a little manual labor ahead of you. Before the marketing plan is written, before the listing photos are snapped, and long before your first showing, you’ll need to make your apartment truly ship-shape.
So you think you’ve found a buyer. If you’re a co-op owner, that’s the easy part. For prospective buyers—and eager sellers—navigating the co-op board interview process is the final boss battle in the process; the reasons for a “not approved” stamp are myriad and often inscrutable, and New York City co-op boards are famous for snubbing the rich and famous. (Ask “Material Girl” Madonna about her chilly experience with the San Remo board back in 1985.) Your buyer is largely on his own for the interview process, but there is some specific advice you can offer in advance to nudge the process in the right direction.
If the headlines are to be believed, New York City is in the middle of a buyer’s market. For sellers, it’ll be a bit tougher to get noticed by potential buyers—and tougher to realize your asking price. Take heart, though: there are a few time-tested strategies for helping your apartment stand out and command top dollar, even when the market isn’t quite on your side. Plus, we have the experience and track record of doing so.