Do I need a broker for new development

No you do not. Brokers are quite useless if you want to buy a new cons.
Negotiation happens if the building is new to market or nobody is buying

But you do need an EXCELLENT real estate attorney.

Not only an excellent real estate attorney, but one familiar with new dev, preferably the one you are interested in.

Yes you need a broker so they can piss off the sales staff at the New Deveopment because now they have to split comission with your broker. So, by all means get at least one or two brokers to represent you.

#5--you seriously do not know what you are talking about. Sales staff are not "pissed off" by brokers bringing buyers. They are on a totally different commission structure anyway

# 6 you must be one of those parasitic brokers who know everything there is to know on whose blood will be get sucked out of each deal

It is not necessary to have a broker represent you in purchasing new development but not for the reasons stated above. The on-site sales team is on salary and commission far different than the broker who brings in the clients so they are
not in competition over commission. The on-site teams usually like the brokers bringing in their clients. The goal is to sell the apartments and sell as quickly as you can so all the help is greatly appreciated.

As a R.E. agent, I can tell you that the on-site sales agent is commissioned by the developers and therefore represent the developer’s best interest - not those of the buyers. It costs you nothing to have an agent by your side as your advocate to be sure you don't get taken for a ride at any point in the process. We have access to information that can give you leverage during negotiations and are familiar with the particular terms on which each development may be willing to make concessions. Many of the new condos require approval packages such as those formerly only required by co-ops. As your agent, I take care of it for you. Fear not! Many of us are good people with good intentions. We love what we do and take pride in working hard for our clients to earn those commissions. No bull. http://www.warburgrealty.com/brokers-indiv.php?agtinit=ALD

#10 That only works if your broker signs a buyers broker agreement. Often, the developer has co-marketing deals with brokers...IE your broker works for the developer too. The fact is, when you go in without a broker, you may be able to get 2-5% of the commission paid to you rather then broker(so it is not without cost). The, vast majority of brokers, are illl equipt to deal with developers, and are interested in selling you. The best, thing to have is a very good Lawyer. I, recenty bought in a new building, and found numerous omissions, and errors when compared to what brokers told me. My broker, caught none of these issues. All, in all my experience was pretty good, but there are alot of unreputable developers, against whom, a broker is like using tinfoil as armour in IRAQ. GET A GREAT LAWYER READ THE PROSPECTUS, AND LEAVE THE BROKER TO SHOW RESALES.

What exactly is the incentive for an agent to protect the buyer? No sale, no commission. I can't wait until the internet breaks the broker stranglehold on the real estate market.

I still can't figure out why people go with exclusive listings for rental properties, I don't want to pay someone a brokers fee to hold my hand and show me where an address is. I can buy a map for a lot less.

The agents at a new complex are far more like a sales team, than an agent anyway. What real estate agent is going to say, "No, the market isn't so good here right now. I have a less expensive property for you, that isn't one of my own sales." Or better yet, "I saw a no broker property that you might want to look at on your own."

Oh, and my favorite. "Oh the property you saw on xx website is already gone, but I'll be happy to show you something else."

#13--there are a whole bunch of real estate companies that advertise basically bait and switch properties. They advertise old listings, other peoples listings, open listings, etc. After a while you get a 6th sense as to whether the ads are real or just buyer-hunting.
#12--The internet has pretty much broken the "stranglehold"--people still use brokers and will continue to do so. As more and more people demand more than information easily found elsewhere from their brokers, the useless ones will disappear.

I think in NYC a really good broker, is helpfull for resales and getting you into VERY hot developments. However...90% of brokers are not good, experienced people. Finding an agent who can find out listings not open to the overall market, or soon to come to market is key. Until NYC goes MLS, a broker for resale is a neccesary evil.

Is it rude, or plain outright "wrong", if I skip over my broker who I've been using to purchase a new development? I was the one who found out about this particular development and asked him to look into it, and though he did make efforts to update me on when the development will go on sale, in the end, I was the one who went into the building and set up an appointment for myself. I feel bad leaving him out of this if I just pursue this on my own, but should I? Would I be in a better bargaining position to reduce the price if I don't initially go in with a broker? I like my broker, but in this case, I feel like he hasn't really added much value. Are there things that he can still help me out along the way? Are developers still willing to negotiate a new bldg even if I have a broker with me? Thanks in advance...

#16--if you like your broker AND you feel he has done a good job in general, it is really crappy to do that. The point of getting a buyers broker is that there are many scenarios in which they could have ended up adding value, depending on which unit or which building you would end up wanting.In this scenario they may well NOT add value but if it is someone who really has been looking for you there is an expectation of loyalty.If the sales office just opened it is very unlikely that you will get any breaks--with or without your broker.People can jump on me all they want but that is my 2 cents.

#18 - what do you mean "if the sales office just opened it is very unlikelythat you will get any breaks"? I thought that that is exactly when negotiating the price on a new development is most successful.

I run a few onsite sales offices here in Manhattan for Clarett - Skyhousecondo.com 200wea.com Chelseahousecondo.com Fortecondo.com. I recommend bringing an experienced broker with you to the sales office. I do not negotiate with people that come in with out a broker, I do not discount an apartment by the fee that would have been paid to the broker. A broker may sell five or more apartments in one of my buildings where as an individual will only buy one. Brokers represent more than 85% of the sales in my buildings. I in fact give brokers the first chance to bring their clients into my properties before I begin advertising. An experienced broker will know what questions are important at a new development. Things like operating expenses and real estate taxes (how much will real estate taxes go up in the second year?, how the space is measured? (does it include hallway space or elevators?), are their lot line windows? to name a few. They will also provide a secondary opinion of what the sales staff is trying to convey in their sales pitch. Brokers provide a check on any spin that an onsite maybe trying to use to close a sale. I view the broker as a reliable partner in the sales transaction and I think the individual will find that an experienced broker should advise them in a purchase, which in most cases is the largest transaction they have ever conducted.