From the May issue: It’s not easy being a residential real estate broker during a slowdown in New York City. Deals can fall apart at a moment’s notice. Mortgages are harder to obtain. Entitled buyers are making lowball offers. Sellers are reluctant to drop their asking prices. The bottom line: There’s a new minefield for brokers to duck and weave their way through. This month, for The Real Deal’s Q & A, brokers shared their concerns about the changing market and their strategies for dealing with everything from the slowdown in sales activity to the doom-and-gloom media reports they said are creating a false impression that the market is crashing. The brokers interviewed said overpricing a property just to get a listing is a setup for failure in today’s market and that many in the business are more willing to co-broker when they get an exclusive.
Staying on top of their game in a slower market
May 08, 2008 10:41AM
By Melissa Dehncke-McGill