First time buyer. Found a place. Do I need a broker?

You do not need one. Negotiate yourself -- seller's broker who will not have to share fee will push for your bid....

but make sure you know the difference between a kitchen and a bathroom (just a little inside joke).

I agree with Fox, and if you don't already have a real estate attorney, this board is one place to solicit recommendations. There was a thread quite a while back asking about attorneys who could advise on a condo-closing in Brooklyn.

I imagine you've seen it, too, but there's a recent thread about the art of negotiating. As another first-time would-be buyer, I've found it quite enlightening.

kipsbayrenter, yes you can certainly have your attorney work on your behalf, as well as they should! to make sure that all the data is relevant and accurate, and that you aren't getting a sour deal. If you have already identified the property that you would like to purchase that is, but the bottom line is that the listing agent is representing the seller, not you. I am a buyers agent, feel free to contact me with questions, I work for the number one broker in Manhattan, yey :) bmwapartments@gmail.com - i prefer to keep my privacy, I am not here just to get clients, in fact, I am here to participate in discussion, so the less afraid I am to speak, the better it is :)

best wishes

KBR: Are these genuine comments or just someone "stirring the pot" so to speak. We get these random comments and then OP vanishes..

Hello KipsBay renter
I read the responses to your questions but certainly would advise that you find a competent broker to work on your behalf. Why? Any "knowlegdable" broker should know what apartments are going for in todays market which is around the 2004 - 2005 prices. Since you will not be paying your broker anything, the seller pays the brokers fee, they should be your advocate to get the very best price in todays market being that almost no apartments for sale today are actually worth the asking price. If someone is telling you you will be getting a better deal without a broker, the only one who benefits from you not having a broker is the sellers broker. They will get the entire brokers comission and their fiduciary responsibility is to the seller, not you.

IF you go the broker route, make sure you get a buyer's broker that will work on your behalf. Unless you specifically ask, the fiduciary obligation of the real estate agent is to the seller (even if they are showing YOU property). Their legal contract is with the seller not you; so they can disclose info to the seller that you would rather not them know (what your bottom line is) and can hold back info from you that may be material to the sale (personal info of the seller but not condition of the property etc). I would also make sure the buyer's broker agrees to be paid by the seller and not by you (ie you are not obligated to pay unless deal closes and listing agreement will compensate a buyer's agent) If you don't hire a buyer's broker then I would go with a real estate attorney. And, based on this forum, would probably hire one anyway as there are many legal ramifications to buying property in NYC that a first time buyer or an out of state buyer may not be aware of.

Bottom line: I would not find a real estate agent and assume that they are working for me until you have a frank discussion upfront about agency (ie who the agent is working for and what their legal obligations are). I am really surprised this is not required in NYC. Caveat Emptor.

Thanks!