How should you go about choosing a selling broker?

People choose me because I'm honest and good at selling stuff. Pretty simple ;)

This is what I would do:

- Do a search in your direct neighborhood and see who represents comps in your direct area. Narrow it down to probably 5 or 6 brokers who have current/closed listings. Schedule a meeting with each. See what price they suggest/what marketing plan they propose/check references/ask what they know about your building. Then decide based on those answers.

I have been a FSBO numerous times and I am always stunned at all the brokers who contact me. NONE (literally none) give me any solid reasons why I would use them. No relevant past performance, no relevant market research. Literally just pitch after pitch of SUPER vague reasons why I shouldn't sell an apt on my own and why I should use them. Plenty pitch experience and when I check out their pages, they have little/no relevant experience.

Based on reading this board I would also be warry of brokers trying to "buy" your listing by promising you high prices. You should have a good sense of what is fair/market and if a broker is promising something beyond that be suspicious.

I would agree with UES Buyer but I would also point out that, as a seller, you should be realistic too. If a broker is out of touch with the reality of the world, he/she isn't for you. But you also shouldn't expect a broker to perform miracles ... be realistic.

You should interview more than one agent -- just hearing different people pitch will give you a lot of insight into how they sell. I recommend one "big firm" (Corcoran or Elliman) agent, one "little firm" agent (say, someone from Fox Residential if you live on the UES, and one other. Do ask your family and friends and neighbors for recommendations.

The point about "buying" listings is a good one; don't go with the agent who praises your apartment the most and tells you it will sell for the most; they are usually full of it.

Try asking these questions:
1) what was the last apartment you sold and how did you sell it?
2) what was the biggest mistake you made? (a fairly revealing question)
3) I hear the market is really slow; what's selling in this market and why?
4) what's the best feature of my apartment?
5) what's the worst flaw of my apartment?
and 6) (which they will expect, and should be able to answer perfectly) what would you do to sell *this* apartment?

ali r.
[downtown broker}

Good Points Ali. I would also ask the broker what kind of marketing they are willing to commit. Will they take out a full page on line ad in the NY Times? Will they advertise every week in the NY times actual paper? Will they hold open houses every week until the property is sold? What do their marketing materials look like? Do they have brochures for every property?What does their company website look like?
Nan Shipley (uptown broker)

I agree with both front porch and Nan, and i would add that in a market like this the two most important factors are TRUST and Market Knowledge. When selling an apartment right now, you MUST have someone who you know really has your best interests at heart and who is well aware of market fluctuations, and can give you a clearcut strategy for selling.