The answer is, it depends. It still confuses me to this day how many New Yorkers seem so smug when they say they're selling in a principal to principal transaction, no brokers and tell their broker friends "even you must understand that." What's confusing is then these same people turn around and shell out the typical 6% real estate broker commission in NYC to sell their homes. What is it with New Yorkers?
Now granted, if you want to sell FSBO without any broker assistance or involvement, you can certainly post your listing up on Zillow, StreeetEasy etc and write "no brokers please." However, be warned, that strategy will test the limits of your patience. You may be lucky to find an unrepresented buyer through one of those sites. However, you're also guaranteed to be cold called / emailed several hundred times by the 30,000 licensed real estate agents in NYC. For those agents, they know what you're doing doesn't work, so they'll risk rejection in the hope of landing an exclusive listing client.
Moreover, it's a logical fallacy to assume that if you just be patient and fend off enough broker cold calls you'll eventually find the best offer in the market (direct from a buyer). That's simply not the case because for whatever reason over 80% of buyers are still represented by agents. It's easy to understand that overseas buyers will want someone to represent them on the ground, but what about normal New Yorkers? Well, keep in mind a lot of NYC professionals are extremely busy with work. Moreover, agents offer a "free" customized human service ... how can you say no to that?
Like what you see? Read more here.
Now granted, if you want to sell FSBO without any broker assistance or involvement, you can certainly post your listing up on Zillow, StreeetEasy etc and write "no brokers please." However, be warned, that strategy will test the limits of your patience. You may be lucky to find an unrepresented buyer through one of those sites. However, you're also guaranteed to be cold called / emailed several hundred times by the 30,000 licensed real estate agents in NYC. For those agents, they know what you're doing doesn't work, so they'll risk rejection in the hope of landing an exclusive listing client.
Moreover, it's a logical fallacy to assume that if you just be patient and fend off enough broker cold calls you'll eventually find the best offer in the market (direct from a buyer). That's simply not the case because for whatever reason over 80% of buyers are still represented by agents. It's easy to understand that overseas buyers will want someone to represent them on the ground, but what about normal New Yorkers? Well, keep in mind a lot of NYC professionals are extremely busy with work. Moreover, agents offer a "free" customized human service ... how can you say no to that?
Like what you see? Read more here.