PHOTO BY TREVOR PARKER, DESIGN/BUILD BY CRAFTED INTERIORS.

THERE IS NO SUBSTITUTE FOR TRUE EXPERTISE

The abundance of reality real estate series has encouraged many to feel a sense of expertise in the field. But the sale of what is often your most significant asset really benefits from a strategic, professional approach. As brokers, our cultivated relationships with other industry professionals and our understanding of the nuances of this business play a pivotal roles in shepherding a deal from listing to completion.

EXCEPTIONAL PHOTOGRAPHY

Great photography is SO important and it’s one of our passions. There is a myth that a home has an “intrinsic value,” a price it will sell for regardless of how it is presented. In truth, many folks decide whether or not to see a place based on how it looks online, so there are many things we do, even before we list the property, to ensure that we sell a home at the highest price.

Our approach to capturing the best photographs encompasses various strategies, from helping sellers declutter and managing renovations to orchestrating optimal staging for your property. Through our first-hand experience we have come to understand how best to capture light, how to optimize the views, and what type of details can be added to ensure the right amount of warmth and personality. We collaborate with a team of top-notch photographers to showcase each home in its best light. Exceptional photography serves a dual purpose: to inform potential buyers about the property while also inspiring an emotional connection. This holds true whether it's a one-bedroom apartment or a townhouse.

Our suggested takeaway for sellers? Bring us in early!

UNDERSTANDING THE SUPEREGOS

Negotiating is not personal. A low offer from a serious buyer, even if initially perceived as ”insulting”, can still lead to a favorable outcome. As brokers, it's our responsibility to navigate negotiations with objectivity and remove emotion from the process. Successful negotiations hinge on both parties feeling satisfied with the outcome, requiring collaboration between buyers and sellers' brokers. By advocating for our clients while fostering a cooperative approach, we can effectively navigate the negotiation process and facilitate a deal that satisfies both sides. A really good broker is a dealmaker. Both sides need to feel they have won something to feel a sense of control and come away from a negotiation satisfied.

PRICING: AN ART AND A SCIENCE

A seller can list their home for any price they’d like, based purely on their own aspirations or their subjective view of their home’s value. But if you are serious about selling your home, you must focus on closed sales pricing over listing pricing. Sellers often inflate prices due to many reasons, from outdated expectations that are tied to a buy-gone bullish market, to the anticipation of a stronger market being right around the corner. Some brokers promise lofty prices just to secure the listing, but retract at a later point, wasting much time and momentum. Pricing strategically attracts more buyers and leverages pent-up demand.

As your broker, we offer valuable insights into your home's market position. Overpricing rarely prompts offers — or even traffic — while underpricing may undervalue your property. Our pricing strategy considers your objectives, your home's distinctive features, and the current market, while accounting for the buyers’ perspective.

MARKET TIMING

We all want to buy at the bottom of the market and sell at the top. That said, generally when the stock market and our personal portfolios have taken a bit of a nose dive, the real estate market follows. As Warburg’s founder, Fred Peters, writes, “It’s a rare bird who has the discipline and bravery to act decisively and invest under those circumstances. Even though buyers mean it when they say they want to purchase when the market hits bottom, it tends to happen at times in which only the stoutest of heart find themselves able to act.”

One of our favorite adages is, “Don’t bet against New York.” The New York market has weathered and come back from 9-11, The Great Recession, (Lehman Brothers), and now COVID-19, and we believe time in the market means more than trying to time the market.

As a seller, there are some things your can control, and many you cannot. As a buyer, it is better to pay a fair price for a great home than to look for a bargain on a sub-par apartment. As brokers say, “people don’t give away New York apartments.”

A sophisticated broker can help you examine the right path for YOU in the current market. Often, it is better to trade up in a slow market and trade down in a hot market. Unless you are exiting the market all together, the most important factor is the relative difference between where you live now and where you want to live. That being said, there are markets where big apartments and small apartments do not move in parallel, or there may be a glut of inventory in one neighborhood and far less in another. A careful, strategic approach with your broker can guide you.

Let’s face it - moving is an expensive and emotional process. Consider when is the right time for YOU to buy or sell, and then try to stay the course.