Issue 107 - What Value Does a Broker Bring? Part One: The Art of Using a Listing Broker

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Issue 107 – What Value Does a Broker Bring? Part One: The Art of Using a Listing Broker

March 1, 2025

It might be tempting to go it alone when selling your property, but the small percentage saved on broker fees is far outweighed by the value a qualified real estate pro brings to the transaction. This is nowhere truer than in the notoriously challenging NYC market.

Buying or selling a home in NYC is a truly unique experience. Not only are both endeavors highly emotional, but they are also nuanced and can be overly complicated. From dealing with rigid co-op boards and legal intricacies to the need for savvy marketing and staging, real estate sales in NYC are no easy feat.

In addition to navigating those challenges, buyers and sellers should recognize that property transactions typically represent the most liquid and significant portion of their assets. It would be foolhardy for a novice to go it alone rather than have someone with in-depth market knowledge to advise and offer counsel.

Some sellers may initially consider doing a FSBO (For Sale By Owner) to save on costs. However, the average layperson could never extract enough online information about the competitive market. Indeed, according to StreetEasy, only 9% of NYC sellers did so without an agent, meaning the vast majority are unwilling to turn the largest investment of their life into a gamble, especially when there are people who can help mitigate all the risks.

A real estate pro can offer much value, particularly in understanding the complete picture of the market — where it is and where it may be heading, upcoming events that might impact the neighborhood, and a historical perspective of pricing in the building and neighborhood. By having access to information not yet recorded online, a broker can factor in the price-per-square-foot and monthly carrying costs in devising an asking price that brings in buyers quickly. They will also advise you on co-op considerations (if applicable). For example, boards can easily deny a sale if the proper due diligence isn’t performed to protect the value of the building overall and the other units. A broker protects against such pitfalls.

Furthermore, listing brokers ensure your property is seen in the best possible light. They know how to stage and declutter, supply high-quality photography, and get eyes on your unit in various ways —including social media, online and print advertisements, and public relations. And they offer a consistent strategy incorporating all those components with a strong understanding of the target buyer demographic.

On the other hand, a FSBO unit will not attract the attention of the primary brokerages, who will not waste their time on a listing that lacks specificity or focus in the positioning.

While putting your home on the market may seem simple, many moving parts contribute to a successful outcome. Most of all, it requires creating comfort in the minds of buyers in a market where you are competing with other sellers promising the same. Real estate pros have the experience and means to set your property apart.

Brokers will walk you through the project, from listing to closing, helping sellers navigate the paperwork, legalities, and inspections. Selling a home is indeed a full-time job: coordinating open houses, dealing with other agents to schedule appointments, sourcing photographers and stagers, conducting mailings, placing ads and social media posts, and creating and hosting a website for starters.

A recent deal provides a perfect example of a listing broker’s value: My client was considering selling his property in the middle of the summer, but I knew he could get much more when buyers flood the market in the next season. After waiting three months to list it, we sold it for 35% above his expectations. The key takeaway is that a competent broker brings discipline to the product to maximize the ROI — not just to line their own pockets but to serve the clients’ best interests.

As the saying goes, a lawyer who represents himself has a fool for a client. That same rationale applies to sellers (and buyers) in real estate transactions where you put a substantial amount of cash into an asset. Having a listing broker dedicated to garnering you the most value for your money, time, and effort is a no-brainer.

Stay tuned next month for Part Two: To Use a (Buyer’s) Broker or Not to Use a Broker — That is the Question

Issue 124 – “The Freeze Heard Across New York”

August 1, 2026

Even those of us who spend most of our days in the world of sales rather than rentals cannot ignore the conversation dominating New York real estate this summer: the city’s newly approved two-year rent freeze on nearly one million rent-stabilized apartments. The decision, fulfilling one of Mayor Zohran Mamdani’s signature campaign promises, has ignited passionate debate from tenants, landlords, developers, and economists alike.

As Time Magazine recently reported, “’Freeze the rent’ became the definitive rallying cry of Mamdani’s affordability-focused mayoral campaign for New York City, one of the most expensive cities in the world. Despite skepticism that he could actually pull it off, a board he controls made good on his pledge just six months into his term.”

In a 7-1 vote this June, the Rent Guidelines Board approved a rent freeze on one- and two-year leases on rent-stabilized apartments — which, according to the Time article, “make up about 27% of overall NYC housing stock.”

For tenants living in stabilized housing, the appeal is obvious. In a city where affordability persists as one of the defining challenges of our time, freezing rents offers immediate relief and greater certainty in an increasingly pricey environment.

Yet, as is so often the case in New York real estate, the story is more nuanced than the headlines suggest.

The New York Post presented the other side of the story, explaining that building owners are grappling with rising operating costs: insurance premiums, labor expenses, property taxes, and capital improvements have all increased substantially.

Critics argue that while the freeze protects tenants in the short term, rising expenses without corresponding rent increases may make it harder, particularly for smaller landlords, to maintain and improve aging buildings.

Rent freezes are not unprecedented. Previous freezes have provided short-term relief for tenants while renewing debates over maintenance, capital improvements, and investment in aging housing stock.

The broader issue is supply. Economists across the political spectrum generally agree that New York’s housing shortage cannot be solved through rent regulation alone. As Vox reported, demand continues to outpace inventory, making new housing production, zoning reform, and development incentives essential.

Although the freeze does not directly affect market-rate apartments, landlords with both stabilized and market-rate units may feel pressure to offset constrained revenue by increasing free-market rents where legally permissible. New York State’s 2024 Good Cause Eviction law, however, limits annual rent increases to the lesser of 10% or the local inflation index.

For buyers, particularly investors considering multifamily assets, the freeze introduces additional uncertainty around future income growth. Buildings with significant rent-stabilized components may trade at lower valuations because purchasers will have to underwrite higher operating costs against stagnant revenue.

For sellers, especially owners of mixed-use or rent-stabilized assets, the challenge becomes demonstrating long-term upside. We may see some owners delay sales, while others bring assets to market sooner out of concern that future regulation could become even more restrictive.

From a residential perspective, one unintended consequence may be increased demand for condominiums and co-ops. When rental policy becomes less predictable, many affluent New Yorkers begin to view ownership as a more stable, controllable alternative.

Foreign investors are unlikely to retreat from purchasing trophy condominiums or prime co-ops, which operate outside the stabilized system. In fact, increased regulation in the rental market could strengthen the appeal of luxury ownership as a store of wealth.

The greater consequence will be on institutional and international investors exploring multifamily acquisitions, where limits on revenue growth coupled with rising operating expenses may prompt some capital to pause, reprice risk, or seek opportunities elsewhere.

A major concern today is that the economics are more challenging than they were a decade ago. The Rent Guidelines Board’s own data shows that operating expenses continue to rise, with insurance costs increasing by more than 10% and overall operating costs rising by more than 5%. The effects will likely be felt most acutely in neighborhoods with large concentrations of rent-stabilized housing, while luxury condominium markets such as Tribeca, SoHo, and much of the West Village, where condominium and market-rate inventory dominate, will experience relatively little direct change.

New York remains one of the most desirable real estate markets in the world. The larger question is whether future housing policy can strike the right balance between protecting tenants and preserving the incentives necessary to maintain and improve the city’s housing stock. Recent reporting suggests that landlords and tenants alike are increasingly worried about the long-term sustainability of that balance.

Perhaps most interesting is what this moment reveals about New York itself. Housing has become far more than an economic issue—it has become a cultural and political one. The debate over rent stabilization reflects larger questions about who gets to stay in the city, who can afford to enter it, and what balance should exist between protecting existing residents and encouraging future investment.

As someone whose business focuses primarily on the sales market, I often remind clients that New York real estate rarely moves in straight lines. Policy shifts ripple through every corner of the market, shaping rental demand, buyer behavior, and investment strategy alike.

Yet what doesn’t change is New York’s capacity to reinvent itself. The conversation around housing will evolve, administrations will change, and policies will come and go. But the city’s enduring challenge — and opportunity — will always be finding ways to be both livable and aspirational.