Wendy Sarasohn, senior vice president, the Corcoran Group
As told to Lauren Elkies
I have been working with an Upper East Side couple for about six years.
I sold them their first apartment back in 1990. Today they are looking for a three-bedroom apartment for about $10 million.
When we started out they wanted outdoor space, a prewar building, an apartment that didn’t need any work and great views, within a three-block radius from 80th to 83rd, Madison to Park.
And now, as time has passed, they have considered giving up the outdoor space, they’ve considered expanding the geography, and they’ve actually considered doing a bit of renovation.
I take the wife out whenever a listing comes on that might work for them; this week we went out twice.
I have another couple that lives in Beverly Hills, and I spent about eight years working with them to find an apartment in Manhattan.
They wanted a two-bedroom condo with great views that was going to be a good investment. They were looking for a condo in which the numbers made sense as a rental and that they liked well enough to live in themselves.
They were somewhat all over the place in terms of price.
Every time the wife was in New York, we’d look for apartments.
I started thinking that I was providing entertainment rather than showing apartments.
What took so long is that she was always regretting what she hadn’t bought.
They ended up buying a two-bedroom place in the Element for about $1.655 million a few months ago.
Based on what someone’s circumstances are — if their lease is up, or they’ve sold their apartment, or they’re relocating — chances are they’ll make a quick decision. If they like their apartment, and if it’s desire rather than need, then often it can take longer.
Sometimes buyers get tired of looking, and they decide to make compromises. I think they should trust that the right place will come along. I always believe we will find it.
Just like a woman meeting the right man, I think sometimes they have to go on a lot of blind dates — sometimes it takes a while, and sometimes it’s the first fix-up.
Meredyth Hull Smith, senior vice president, Sotheby’s International Realty
As told to Lauren Elkies
I have been working with a couple off and on for five years for what they would consider the perfect apartment.
The search is taking a while because their home on the Upper East Side is so lovely, and there is no compelling reason to move unless the next apartment is perfect.
We’re looking at apartments that range in price from $15 to $30 million and have multiple bedrooms, but it could be anywhere from an extremely large three-bedroom to more bedrooms. They will buy something in wonderful condition, or they’ll take a wreck and make it their own space. They’d like to be in a good co-op, but the right condo would be equally of interest.
In this case, my people are willing to stretch their options and be creative about these options.
They would like to move so they can have a new experience.
They will walk in, and they will know it’s the apartment.
In five years, I’ve shown them eight to 10 properties.
A period of say two years can go by and we won’t speak about it, and then they we will go out and look at a number of properties.
This is not like the kind of search where you are trying to find a customer a Classic Six and it’s taking years. In that case they are not real buyers, and their issues make them not worth the investment of time and effort.
This type of client is extremely challenging — in a good way.
You have to interpret what the client thinks they want and see what’s on the market, or find something that does not exist in the open market and bring it on the market for them. It is sort of a version of human chess.
As a broker it is very rewarding, and not just financially. It’s finding that very special property that will turn the key in the lock for them that makes the investment of time and effort over the years so worthwhile.