7 Must-Ask Questions: Hiring a Real Estate Agent in New York
Hiring the right real estate agent in New York is crucial when navigating the city’s competitive and complex market. Whether you're buying or selling, asking the right questions can help you find a skilled professional who will meet your needs.
Here are 7 must-ask questions to consider when hiring a real estate agent in New York.
7 Must Ask Questions
Real Estate Agent New York
1. Do you work with buyers, renters, or sellers?
Understanding whether a real estate agent primarily works with buyers, renters, or sellers can provide insight into their expertise and approach, which is crucial when choosing the right agent for your needs.
Here’s why this question matters:
Specialized Knowledge: Agents often specialize in one area—working predominantly with buyers, sellers, or renters. An agent who specializes in working with buyers, for instance, will have deep knowledge of the buying process, including negotiation tactics, navigating co-op board approvals, and understanding financing options. Similarly, an agent focused on sellers will know how to market properties effectively, price them competitively, and manage open houses or showings.
Balanced Perspective: While specialization is valuable, it’s also beneficial to know if an agent works with all types of clients. Agents with experience in both buying and selling can offer a balanced perspective, helping you understand the priorities and strategies of the other party, which is advantageous in negotiations.
Tailored Services: If an agent primarily works with clients like you (whether you’re buying, renting, or selling), they’re more likely to have refined systems and strategies tailored to that type of transaction. This specialization means they can anticipate your needs and handle potential challenges specific to your situation. For example, a buyer’s agent might have connections to off-market listings or experience dealing with specific financial scenarios that buyers face.
Asking this question helps you gauge the agent’s strengths and whether they align with your specific needs, allowing you to make an informed decision when hiring the right professional.
2. What Is Your Experience With My Target Neighborhood?
New York City is made up of diverse neighborhoods, each with its own market dynamics, pricing trends, and building regulations. Ask the agent about their experience in the specific neighborhoods you’re interested in and with the property type you’re targeting, such as condos, co-ops, townhouses, or apartments. An agent with local expertise can offer valuable insights on pricing, building requirements, and the competitive landscape in your preferred areas.
3. Can You Provide References or Client Testimonials?
A reputable agent should be willing to provide references or direct you to client testimonials. Past client experiences can offer insights into the agent’s professionalism, communication style, and negotiation skills. Look for feedback that highlights responsiveness and the agent’s ability to close deals successfully.
“Kristen walked me through the process, listened to what my wants were, and showed me some truly great places! Actually, I put an offer in on the very first place we saw - she totally nailed it, it was the best looking West Village one bedroom I had seen, and had everything I was looking for! [...] Kristen gave me helpful check in calls, was SUPER communicative through the process [...] Highly highly recommended!”
- Kaighn
4. What Timeline can I expect?
If you’re a renter, you’ll want to be sure you have your new home lined up before your current lease ends.
If you’re buying, you’ll want to be mindful that the process of buying a home in New York can take longer than it can in other markets, especially if you're dealing with a co-op board approval or specific building requirements. Ask your agent to outline the typical timeline from making an offer to actually closing the deal. They’ll be able to explain each step to you — such as the initial offer, due diligence, board approval (if buying a co-op), and final closing — so you can anticipate how long it may take and plan accordingly.
This will help set realistic expectations and prevent surprises during the process.
5. What can I expect to pay in terms of your Commission Structure?
Real estate agents ear commission based off the sales or rental price of a transaction.
When a home is sold:
Agents generally earn 2.5 - 3% of the purchase price of a home.
The seller typically compensates both agents.
When a home is rented:
Fees tend to vary between one month’s rent and 15% of the total annual rent.
Renters often cover the cost of both the listing agent and the tenant’s agent.
Some NYC apartment’s are listed as “no fee” which means the tenant is only responsible for compensating their own real restate agent.
It’s important to clarify how much commission the agent you’re working with expects and whether there are any additional fees you should be aware of. Understanding this upfront can prevent surprises later.
6. What Strategies Will You Use to Help Me Buy, rent or Sell?
If you’re selling or renting out a unit you own, inquire about the agent’s marketing plan, including how they will promote your property. If you’re buying or renting a place, ask about their approach to finding properties, presenting strong offers, securing off-market deals and negotiating the best price. A strategic agent can make a significant difference in how likely you are to secure a deal.
7. Do You Have Experience Helping clients through the Co-op Board Approval Process?
New York real estate includes a large number of co-op properties, each with its own set of rules and approval processes. If you’re looking to buy or sell or even rent a unit in a co-op, it’s crucial that your agent is familiar with these processes so they can guide you through the process stress-free. They can help you navigate the strict board approvals and intricacies specific to these properties.
Finding The Right Agent for You
Hiring the right real estate agent in New York can make all the difference in your real estate journey. By asking these key questions, you can ensure that you’re working with someone who understands your needs, has a deep knowledge of the market, and is fully committed to your success.
I’m Here to Help
If you’re on your journey to buying a home in New York, I’d love to help guide you through the process. My name is Kristen Shaker, and I’m a licensed Real Estate Salesperson in New York city. Whether you’re just starting your search or ready to make a move, you can contact me to get started here. Let’s make your NYC real estate dreams a reality! And if you’re a home buyer don’t forget to download my FREE Ultimate Buyer’s Guide — it’s packed with valuable insights and tips to help you make the best decision for your future.
