How do you evaluate a listing broker?

Ask them for references - and call them!

Well, I am a downtown broker (I was trained in Chelsea/Village, and my office is in Tribeca) so let me throw my hat in the ring ... but to answer the parts of your question: either your apartment is going to be relatively easy to sell, or it's going to be hard. (For the former category, think "in mint renovated condition"; for the latter category, think "an odd layout" or "a difficult co-op board.")

If it's easy, then it stands to reason that a lot of salespeople could do it, and I'd lean towards someone who has some kind of track record, that you find it relatively easy to communicate with, who is cheap.

if it's difficult, then I'd lean to someone who tells you in the listing pitch why it's difficult, and what they intend to do about that. (Can you tell I'm a lot of people's second broker?) I think experience counts less in this case, because someone who is hungry for your kind of deal can probably do a good job too.

I agree with checking references, but I think that's a minimum standard ... no agent is going to give out the names of clients who don't like them.

There have been attempts at third-party ratings sites, but they're not disinterested (one that I'm thinking of takes a referral cut for sealing the deal between broker and client) and they're also don't tend to get a lot of traction because they're not that useful in rating brokers who do lower volume (but may do a good job in spite of, or even because of, that very fact.)

I'd also say go for a REBNY member, but I'm biased because I am one -- just about everyone you'll be talking to probably is too.

finally, if you interview a bunch of brokers, and ask them what price they expect to get, you might consider throwing out the person who names the highest number (a strategy we call "buying the listing") and the person who names the lowest number (possibly a salesperson who is trying to knock your expectations down so they'll have an easy time of it.)

ali r.
{downtown broker}

It's no different than in any other business.

The bigger they are, the less time they can spend on your individual listing.

The best option is to find a broker that specializes in your building. Most likely they live there and have been listing apartments the whole time.

The second option is to go through the streeteasy sales history and look at who has sold apartments in the building and how their sales went. Did they sell the apartment quickly? Did they successfully sell the apartment at a new price high on a per square foot basis? Don't just look at the numbers, analyze them. Then look at the listings, description. Did the listing look great in the photos, properly staged or organized? If you find a broker that has sold a couple of listings recently in the building, did a great job on the property, is a member of REBNY, and is currently working(!) then hire them. You don't have to let people come to you... seek them out. That way you can negotiate that 5% commission.

Good luck with the sale of your property

Snezan

There is one agent you def dont want....the agent with that great ability to manipulate the seller into the lowest price possible. They are very easy to spot they always have the lowest priced apts listed. They get that low price for that quick sale. RUN from them. Dont ever let them get their greedy fingers on your listing. Before you know it they will have you signing the agreement, have a signed contract in a week and they are gone to the next sucker. You are stuck with selling your apt for 10-15% under market. Chances are they sold it to a buyer of there's already lined up and didn't give it anytime in the market. Be wary of them. Good luck.

they didn't give it anytime in the market meaning they spent minimal advertising dollars and gave minimal marketing effort...

The interesting thing about NYC is most buyers have their own agent. So the listing agent is not necessarily the one that creates the sale. And regarding pricing, price it fairly, not too low, neither too high. Some agents will give you an unrealistic price to secure the listing, it's human nature to go with the highest price given to you. Every market is different, currently pricing a bit soft works well as creating an auction mentality with the highest and best scenario drives price beyond present moment reason. Price too high, buyers will ignore you. The market is efficient, let it work. It is important to have the right people on your team that can negotiate the deal efficiently and keep things moving in a seamless well thought out manner. Think poker. NYC buyers/sellers are a sophisticated lot not prone to salesmanship games (at least as smart as steveF) who would not be played by an unethical person.

Keith Burkhardt
TBG

I'd go for the combination of who is willing to list cheaply, for example 5% co-broked, 4% no buyer's broker, and who claims credibly they will actually do work to generate demand.

Look at the broker's comps. Check references. Consider what you have to sell in context of the broker's experience. ... saving 1% fee should not be your priority unless you have a commodity.