Frequently Asked Questions
How Does Working With An Agent Benefit You?
It saves you time
It makes you a more informed buyer
It makes you more competitive in the tough NY real estate market
It helps you navigate through the complicated process of acquiring a loft, penthouse, or townhome (we call them townhouses in New York City).
Should You Have One Agent From Each Real Estate Company So That You Don’t Miss Any Properties?
We cooperate (co-broke) with most of the other agencies, sponsors, and directly with the owners. One call to us can get you the information you need on all the properties in which you are interested.
But What about Other Companies? Exclusives?
How Can I See Them Through You If They Are Not Your Exclusives?
An exclusive listing means that the seller of the property is represented exclusively by his or her selling agent. As a buyer, represented by us, you can still see that property. We will make the arrangements for you to view it. Since exclusive listings are co-broked, you will not be missing out on any properties.
Who Do We Represent?
We represent you, the buyer as a Buyer’s Agent, in the purchase of your home. If another Leslie J. Garfield agent represents the seller of the property you wish to purchase, Leslie J. Garfield as the broker would act as a Dual Agent with Designated Sales Agents. We would represent you as the buyer and the other Leslie J. Garfield agent would represent the seller. If you wish to purchase a home for which we had previously agreed to represent the seller and you had no other agent, we would either be obligated to represent the seller (in which case you would represent yourself) or with the seller’s written agreement, we would represent both you and the seller. These relationships are further explained in the New York State Disclosure Form for Buyers and Sellers.
What About Sunday Open Houses?
A great way to see many properties in one day is by going to Sunday open houses. If you like looking on Sundays, we can register you for the open houses you wish to attend and provide guidance on the most appropriate homes for you to see. When you sign in at each place, be sure to put down our name and information as well as your own. This way you will be represented if you want to make an offer on any of the properties you have seen. But remember, it is unusual for townhouse owners to hold open houses on Sundays.
How Do I Know My Agent Isn’t Going To Miss Any Properties?
Leslie J. Garfield has one of the largest data bases in New York, which is updated daily and includes properties from many different realty firms. If you would like to be a part of the searching process, tell us and we will be happy to work with you as a team. You can go online to the various web sites, look in the newspaper and in the real estate magazines, and compare notes with us. Call or email us all of the listings you find online so we can research them further and make appointments for you.
If I Am Going To Do The Work, Why Do I Need An Agent?
We have a much more extensive and up-to-date data base than the public will find on the Internet. We receive the listings before the public has access to them on the web and the market typically moves much faster than the Internet. We will be able to tell you the status of the properties in which you are interested. It may be that those we “missed” are actually ones that we have already eliminated because they are already in contract or sold. And in any negotiation, we will provide you with an advantage as well known and well respected agents.
Buying A Home Is Expensive; Do I Have To Pay A Broker Fee?
You don’t have to pay a fee. Sales commissions are paid by the seller, not the buyer. When a property is co-broked, the commission is shared (generally equally) between the selling broker’s company and the buying broker’s company. There is no additional out-of-pocket expense to you.
How Does An Agent Help Me Find the Right Home?
We will listen carefully to your needs, research the market using every available resource, preview townhouses or apartments, schedule all appointments, provide you with experts who can help you see what changes can be made to the space, and provide you with all the information you will need to reach the most informed decision about any home you want to pursue.
Once I Find the Perfect Home, What Do I Do?
When you are ready to make an offer, we will help you:
Find the right mortgage bank or broker to arrange the necessary financing
Put together a strong offer package to be competitive in the market
Negotiate the price and terms of the sale
Find the right attorney and other experts to represent you
Prepare you for your closing