Your role as an Expert is not just to find your client their perfect home. It’s also to guide them every step along the way – and as a New York City real estate agent, you know that those steps are numerous. This guide will help you help your clients navigate the NYC buying process, from the initial search to signing the closing contract.
The guide covers the following:
- Establishing a timeline
- Providing a buyer’s packet
- Determining priorities
- Condo, co-op, or townhouse?
- Talking finances
- Managing expectations
- Helping the client understand the market
- Preparing the client for the co-op or condo board
- Making good referrals
PREVIEW:
First, establish a timeline
Find out when your client is looking to move, and make sure it’s realistic. It can take anywhere from three months to a year to close on a home. At the very least, a buyer can expect the process to take two months between offer and closing – plus the time spent searching for a property. It will help both you and your client to establish a timeline and proceed with that timeline in mind.
Provide a buyer’s packet
A buyer’s packet is a great way to educate your client on the ins and outs of the NYC homebuying process. We recommend including: your bio and business card; client testimonials; neighborhood guides; market updates; steps for buying a home in NYC; a co-op vs. condo explainer; and pre-approval information.
Determine priorities
What does your client most want in a home? Determine what their top priorities are: location, size, outdoor space, natural light, amenities, views, etc. Ask about any aspects you think they’re missing, like laundry, noise, storage, heating and air conditioning, school districts, etc.
Condo, co-op or townhouse?
Have the condo vs. co-op conversation with your client, preferably early on, with honesty about the differences and pros and cons. If it’s in the budget, see if a townhouse would be a better fit.
