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Small vs. Large Brokers for Buyers

Started by itchingtomove
about 13 years ago
Posts: 2
Member since: Sep 2010
Discussion about
I'm looking to buy, probably in North Brooklyn. Any advice on using one of the big boys like Corcoran to help me find a place or whether a smaller shop would be better? I am leaning towards someone smaller, e.g., Brick and Mortar. Besides the possibility of better customer service, I fear that if Corcoran brokers are on both sides of the transaction, I won't get the best deal (though I realize all brokers have an incentive for the purchase price to be as high as possible). Any thoughts would be much appreciated. Thanks.
Response by snezanc
about 13 years ago
Posts: 121
Member since: Oct 2007

small versus large brokers do not make much of a difference when it comes to a buyer's agent. Pick someone you like and pick someone who has experience. You want someone to know what contingencies are, how financing requirements work, have attorneys and mortgage brokers they can recommend. These are all services a buyer's broker can provide. You can also ask for a buyer's reference.

that being said, if you're in North Brooklyn, it's usually condos and houses. There isn't as much due diligence required. I'm a small broker and enjoy not having to deal with the overhead of a large agency but I do know some people are looking for that http://www.youtube.com/watch?v=IsUsVbTj2AY which Corcoran and Core excel at.

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Response by lobster
about 13 years ago
Posts: 1147
Member since: May 2009

As a buyer, you most likely are better off if the real estate agency is also not representing the seller's property. With a smaller agency, that possibility decreases substantially. I found it helpful to have a broker working with me as a buyer in that they make appointments for me to see apartments and the like. I really didn't need them to help me with the condo package although many people appreciate that service. It's not always easy finding the right broker who has expertise in the particular area and market you are searching. I would suggest talking to a few brokers before selecting one and if possible, talk to them in person rather than on the phone. Sometimes referrals from friends, etc. don't pan out to much if your friends live in other neighborhoods. I would take a little time to find the right person since you will be working with them for a while. Also if the match doesn't fit well after a few months, I would change brokers.

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