What to Look for in a Real Estate Broker

Whether you're buying or selling a condo or co-op, the goal is to engage a real estate broker who will get you the best price or the best apartment in the shortest period of time. Unless you already work in the real estate industry, you likely will not have an ongoing relationship with an individual broker. When engaging a broker—either as a buyer or a seller—there are 10 essential qualities to look for when seeking a superior broker.

Experience: Of all the qualities that a good real estate broker should have, experience is one of the most important. For a buyer, the experienced broker will know the neighborhoods and the quality of buildings where you may want to make a purchase.


Knowledge: When representing either a seller or a buyer, a broker should have exhaustive knowledge of pricing in a building and neighborhood. Many brokers are not up-to-date on sales prices.


Presence: It's all too common a practice for brokers to have their assistants—who may have little experience—show apartments to prospective buyers. In such cases, the seller may be unaware that an inexperienced assistant or an agent trainee is showing the apartment and is perhaps ignorant of the apartment and the building's attributes and amenities.


Availability: Prospective apartment buyers may not be able to inspect an apartment between 9 a.m. and 5 p.m. Yet, too many brokers refuse to show apartments before 9 or after 5, and fewer still refuse to show apartments on weekends. If you want to maximize the chances of closing a sale or finding your dream home, look for a broker who is available when buyers are available, whether its 10 p.m., 7 a.m., or on weekends.


Marketing/Advertising: Many brokers are kept on short financial leashes, and are not permitted to advertise a property on an ongoing basis—in many cases, print or web listings are so small that many prospective buyers miss them. That makes it all the more important to get the widest, most attractive exposure possible for a client's property.


Speed: Once an owner puts an apartment on the market, it is essential that the apartment be put on the broker's website, floor plans be made available, and ads placed all within twenty-four hours. Taking weeks to get all the marketing materials assembled is too long—the rapid deployment of marketing materials is essential if a broker is going to attract the largest possible number of potential buyers.


Staging: Just as people dress up before going on a date, so an apartment must be made as attractive as possible before it is presented to potential buyers. The process is called "staging," and it involves everything from getting rid of clutter to placing flowers or plants in appropriate places, ensuring that the lighting is more than adequate, moving furniture, and cleaning windows. Professional staging companies exist, but an outstanding broker should have some helpful tips on how to stage your apartment.


Cosmetic Renovation: A talented broker may also recommend minor renovations that will result in a major increase in the apartment's value. For example, it may be possible to put up a couple of walls with French doors to create an extra bedroom.


Perseverance: When representing a buyer or seller, this quality is essential. A buyer's broker must relentlessly search for the right apartment, regularly updating clients on the newest listings as quickly as they come on the market.


Trust: As when choosing a lawyer, a doctor, a stockbroker, or an accountant, one should expect a level of comfort with a real estate broker. The best real estate brokers are trustworthy, have integrity, are passionate about their work, and are dedicated to their clients' goals.