Why an NYC listing agent became a buyer’s broker

  • While living the listing agent life, brokerage owner Ian Katz saw a void in the New York market for exclusive buyer representation. He achieves around 80 percent success for his buyers.
  • Katz argues that his self-starter, often millennial consumers want more transparency in their buying process and that dual agency does them no favors.

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Take the average real estate transaction and then imagine an exquisitely tricky minefield -- that’s the situation that many buyers in the Big Apple are up against. Despite real estate apps galore, no magic bullet exists for putting together a successful offer on a Manhattan housing cooperative unit, for example, something that anyone who has been through will describe as a winding labyrinth. “You can’t build an app for a co-op package; it’s so idiosyncratic,” Katz said. “You are dealing with boards who may approve or disapprove based on qualitative or personal reasons, or financial requirements specific to that building.” A renewed conversation on exclusive listing agency in New York has emerged with Zillow Group’s addition of buyer’s agents lead forms to StreetEasy listings, while the perennial discussion surrounding dual agency, in which agents from the same brokerage represent both sides of a transaction, continues to be incendiary with vocal proponents ...