Manhattan Real Estate Buyer’s Agent, Weimin Tan
Posted by Wei Min Tan on August 12, 2024
Manhattan, a global financial and cultural hub, has long been a coveted destination for real estate investment. For foreigners, Manhattan, New York real estate is seen as a safe haven for assets due to limited supply and high demand from both residents and international investors.
Real estate ownership remains a top priority for global investors for stability, diversification and generational wealth transfer. New York property serves as a hedge against inflation, political uncertainty, global trade disruptions, and currency volatility. However, navigating this complex and competitive market can be daunting. This is where a skilled buyer’s agent becomes indispensable.
Read about Wei Min’s style in Best Manhattan property agents and Role of a buyer’s broker.
Who is a Buyer’s Agent?
A buyer’s agent is a real estate professional representing the buyer’s interests. Unlike a seller’s agent who prioritizes maximizing the price for the seller and getting as many offers as possible, a buyer’s agent represents the buyer’s interest in negotiating the best price and terms on behalf of the buyer. A buyer’s agent’s expertise lies in understanding market trends, property values, and negotiation strategies to secure the best possible deal for the client.
Buyer representation is standard practice in the U.S. and hence the New York real estate market. The role and responsibilities of a buyer’s agent are explicitly outlined in the Agency Disclosure Form, which clearly indicates the agent’s fiduciary duty to the buyer.
Weimin’s Article: Property investment in New York
Does the Buyer’s Agent have access to all the listings?
Manhattan real estate operates under the Real Estate Board of New York (REBNY). REBNY rules mandate that new listings be shared publicly within 24 hours of signing the sale exclusive agreement. This means all brokers and consumer have access to the entire inventory of properties for sale. In our case, our clients often send us properties to comment on. Keep in mind that a good buyer’s agent will point out downsides of a property, which the listings will never point out.
Weimin’s article: Manhattan, New York Property Historical Price Trends
What We Do
We focus on global investors buying Manhattan condos for portfolio diversification and long term return-on-investment.
1) Identify the right buy based on objectives
2) Manage the buy process
3) Rent out the property
4) Manage tenants
5) Market the property at the eventual sale
