NYC Real Estate Brokers: How to Stay Competitive in New York’s Crowded Market

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NYC Real Estate Brokers: How to Stay Competitive in New York’s Crowded Market

While the real estate market in New York City appears to be hitting a cooling phase, there’s no secret that the market remains just as crowded as it’s population. From high housing prices to small square footage, giving your clients the apartment or home they are searching for can be a difficult task. With prices leveling out, buyers are more motivated than ever to put down roots. Here are just a few ways to remain competitive in the NYC real estate game.

Reputation Management

The real estate community nationwide doesn’t always get the best rep, so consumers are sensitive to signs of inconsistency. Keep your online presence maintained, and be sure to have a game plan to responding to both positive and negative reviews online before they occur. This includes being active on social media and owning your message. When you’re directing the conversation, you have more control over your reputation online.

Research

While a 45-hour course is required in NYC to become a licensed broker, there can be knowledge gaps that prevent you from being your most successful in the market. For example, it’s key to understand exactly how different types of NYC property work, from co-ops to condos and apartments and houses. Having this kind of knowledge helps you navigate the landscape for your clients and help them buy or sell a property in accordance with their lifestyle. Being an expert, specifically in NYC real estate, is key to earning the trust of your clients.

Connections

Look for opportunities for continuing education or join industry groups. Especially if you’re going at the business alone, it’s helpful to have industry connections and good relationships among peers that you can learn from. When it comes time to sharing listings among businesses, it can be extremely competitive and decrease commission when it has to be split between multiple brokers or agents. Learning how to navigate this listing process from industry pros helps you balance selling the property quickly and maintaining a strong commission for yourself.

Offer Unmatched Services

As a real estate professional, your relationship with your client shouldn’t end when the papers are signed. Your customers will keep coming back to you if you can help make the entire buying, selling, renting, and moving process easier. Especially for first time buyers or renters, being a true partner will go a long way in earning their trust and repeat business.

For example, if they’ll have a gap between homes or apartments, connect with a valet storage service you trust to offer your clients. Simplify Valet Storage is a New York-based storage solution that comes directly to someone’s home to take their items for storage. When they’re ready to be reunited with their items, they simply request a return to their new address. This simplifies the moving process and takes unneeded stress off your clients during a busy time. Learn more and connect with us today.

 

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