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<\/p>\nA Manhattan apartment broker is a middle man.\u00a0 However, despite all the sleazy stereotypes, many grounded in truth, the best middlemen add tremendous value. \u00a0Sadly, mediocre brokers add little or no value, and a handful of bad brokers \u00a0reach “negative value add” territory (even if their services were completely free you’d be better off without them).<\/p>\n
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Why is there so much variance in quality?\u00a0 It’s a bit puzzling to most people, because most New Yorkers think brokers are simply a very high-level API and front-end into a database of listings.\u00a0 It’s true, brokers would be overpaid if they earned thousands of dollars per afternoon as a human MySQL Query Browser + key card.<\/p>\n
Head Hunters<\/strong><\/p>\n To help illustrate the value add, we’ll look at another market filled with inefficiency and middlemen: the job hunt.<\/p>\n As stressful as the quest for a dream apartment can be, finding the dream job is even more taxing.\u00a0 New Yorker’s stay at their jobs longer than they do their apartments, making the cost of a bad decision particularly painful (the only more elusive pairing is the perfect spouse). \u00a0 Employers are like renters, scanning hundreds of brief descriptions (resume screening), inquiring dozens for more details (phone interviews), and then granting a small handful a personal audience (on-site interviews).\u00a0 When the right match finally arrives, there is the uncomfortable negotiation phase.<\/p>\n What would the perfect headhunter do to add value? \u00a0They would:<\/p>\n Back to Reality<\/strong><\/p>\n Sadly, a headhunter this great doesn’t exist (if she does, give her my resume). \u00a0However, any apartment broker worth his salt does all of these things. \u00a0They build relationships with landlords, doormen, and supers. \u00a0They visit apartments and reject bad ones without even bothering to photograph or advertise them. \u00a0They carefully write descriptions that highlight unique features. \u00a0They have enough broad knowledge to know a fair clearing price in rent negotiations. \u00a0They qualify renters. \u00a0They save everyone time, and they do this knowing that most clients waste their time.<\/p>\n\n