Should You Use the Listing Agent or Get Your Own Buyer’s Agent in NYC?

This is a question I hear from buyers pretty often:

“If the listing agent already knows the property, why not just use them?”

You absolutely can in certain situations, but there’s an important difference buyers should understand.

🏠 The listing agent was hired by the seller.

Their job started with representing the seller and marketing the seller’s property.

If you have your own buyer’s agent, that agent is working with you throughout the purchase.

A buyer’s agent can help you:

• Research comparable sales before deciding what to offer
• Determine whether the asking price makes sense
• Structure and submit your offer
• Negotiate price and other terms
• Identify potential issues with the property or building
• Navigate co-op or condo requirements
• Coordinate with your attorney, lender and other parties
• Guide you from the initial search through closing

What if you use the listing agent?

In New York, one agent may sometimes represent both the seller and buyer as a dual agent, but this requires informed consent from both parties.

The important thing to understand is that a dual agent has limitations because they’re representing two parties whose interests may not always be the same.

For example, the seller generally wants the highest price and best terms.

The buyer generally wants the lowest reasonable price and protections that favor them.

That’s why I think buyers should understand exactly who represents whom before making an offer.

There isn’t one answer that’s right for every transaction.

Just don’t choose an agent simply because their name happens to be on the listing.

Choose someone you trust to help you make a good decision.

I’m Vlad, Principal Broker at NovaKey Realty. I work with buyers and sellers throughout Queens and NYC.
If you’re starting to look for a home and have questions about buyer representation, co-ops, condos or the buying process, feel free to ask.