33 East 22nd Street 5D
108 Leonard Street PH 15A
260 Park Avenue South 9J
260 Park Avenue South 9I
260 Park Avenue South 9K
254 Park Avenue South 6G
146 Newel Street
210 Lafayette St #8B
254 Park Avenue South #6C
150 Rivington St #PH
1001 Fifth Ave #9C
150 E 93rd St #PHE
41 Crosby Street #LOFTR
551 West 21st St #PH19
1001 Fifth Ave #10C
203 West 81st Street #4B
53 W 53rd St #PH76
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
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