We are in a very difficult market where almost everyone except for sellers feels the market is poised for a deep dive. That is not exactly true. Every day I see properties in a wide range of prices go into contract, some within weeks of going on the market. What is the secret sauce these agents are using to defy the norm?
All these apartments are primed to show at their best and have been priced right keeping the current market conditions in mind.
Very often I see agents who have no prior knowledge of the buildings on or around Gramercy Park—including the building in which they have just listed a particular apartment—struggle to market and subsequently sell the property they have listed. In almost all cases, they are learning about the building and its special attributes while on the job at the seller’s expense.
In this competitive market, the role of the listing agent has become more complex than merely looking in a database, finding the last comparable apartment that sold in the building and or immediate neighborhood, and pricing the property accordingly.
Pricing and marketing apartments in this difficult environment requires an array of skills; properly-priced apartments attract buyers, while aspirationally-priced apartments languish on the market for months on end without attracting an offer.
A broker with an intimate knowledge of the building and neighborhood and with past experience selling in the building and neighborhood brings a competitive edge over his peers. That is a huge asset to the seller at no additional cost.