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So you’ve saved up a chunk of cash for your first home and you want to know whether buying a house without an agent in NYC will give you an edge. The truth it, it depends completely on where you are buying a house.Thinking about buying a house without an agent in NYC?Despite popular misconception, this is actually not a good idea. You might think of a buyer agent in NYC as an unnecessary middleman when StreetEasy or Zillow is so convenient to use. Or you might be thinking that you’ll have an advantage going in unrepresented. After all, wouldn’t listing agents like to deal direct and not have to share the commission with another broker? Think again.The truth is, almost all NYC brokers are members of REBNY which means they’ve signed an agreement where they are contractually obligated to “co-broke,” or share the commission with buyers’ agents. There are strict penalties and fines for non-adherence or violations. Therefore, you face absolutely no discrimination by listing agents if you’re working with a buyers’ agent.After all, wouldn’t listing agents like to deal direct and not have to share the commission?Furthermore, a buyers’ agent will always have fresher and more accurate listing data than you do by virtue of their access to the local interbroker databases. Why is it fresher you ask? Again, remember that agents in NYC are contractually obligated to keep their listing data fresh. Any updates must be reflected within 24 hours or the broker faces serious fines. The penalties are harsh and escalate quickly for additional violations, so brokers are extremely incentivized to update their entries in the interbroker databases immediately.In contrast, listings on consumer search websites are under no such obligations. It is up to the search website themselves to periodically refresh their data from the interbroker databases. For example, major real estate search websites you’ve heard of will typically get updates of broker listings from an RLS (REBNY listing service) vendor such as Nestio or OLR every one or two days.If there is an error in the data relay that shows up on StreetEasy, the broker is not obligated to correct it. Notice the difference however vs the interbroker database where the broker is incentivized and obligated to immediately correct any errors. As a result, simply because the brokers have a severe incentive and obligation to keep their listing data fresh, and because most listings are by brokers, the broker database tends to have the freshest data available. And because only brokers have access to these databases, it makes sense to work with a broker during your home search.If you’re buying a house without an agent outside NYCThe situation becomes murkier once you are outside Manhattan and the nicer parts of Brooklyn. There are still broker associations in the Bronx and Brooklyn for example but the rules and behavior are much looser. Here, it may sometimes be a disadvantage to work with a buyers’ agent. The reason is, these brokers will not have a contractual “co-broke” agreement signed by default, and as a result listing brokers will obviously try to keep the entire commission for themselves.Even though this is ethically wrong and against real estate license law, listing brokers may often play hard to get with buyers’ agents. According to real estate license law, real estate brokers must submit all offers to the owner and not withhold any information. If buyers’ agents suspect that an unscrupulous listing agent is avoiding him, he can always bring this to the attention of the listing agent’s managing broker or the seller directly.We’ve heard stories of buyers’ brokers being told by unscrupulous listing agents that they refuse to co-broke. Sometimes the reason is “because you’re not a member of my trade association,” and sometimes there is no reason given at all.Often times, the issue is simply the professionalism of the listing agent him or herself. We’ve heard many stories of direct buyers trying to schedule a showing for properties in the Bronx only to be completely ignored. In certain cases because of the unprofessionalism of brokers in certain areas, it may be a huge benefit to work with a buyers’ agent who has the most up to date listing data so you’re not wasting time on out dated and unavailable listings.Listing brokers may also take a middle ground if you are working with a buyers’ agent. They may agree to show the property, but insist that your buyers’ agent accompanies you to the showing. This may be extremely inconvenient to your buyers’ agent if say you are looking to buy in the Bronx and your agent lives in Manhattan.This may also disrupt your plans if you were planning on working with an agent providing a buyer agent commission rebate. The buyer agent will usually not agree to full service especially if he or she is providing a rebate of his or her commission. This is typically not an issue in higher priced Manhattan properties however, where even a half rate commission makes sense to most brokers. Often times, the issue is simply the professionalism of the listing agent him or herself.Learn more at Guide to Getting a NYC Real Estate Commission RebateDo you need a real estate attorney and a buyer broker?That depends on where you are buying and whether you are buying a house without an agent. In California, real estate attorneys typically aren’t used in transactions as the contracts and forms are all standard templates which the Realtor will walk their client through. In this situation the Realtor adds quite a bit of value to their client.In New York City, real estate attorneys are required by law for transactions. Because the purchase and sale contracts and transactions are generally more complex than a suburban single family home, real estate agents in NYC only handle the “salesy” part of matching buyer and seller. In this situation you will definitely need an attorney whether you are working with an agent or not.In fact, NYC brokers don’t contribute much after having found a “ready, willing and able” buyer for the seller and often don’t even bother to show up at closing. Ironically, they will typically stop by the attorney’s office at some later more convenient time to pick up their broker commission checks. So in short, it doesn’t matter in NYC whether you’re buying a house without an agent or not, you are required to hire a real estate attorney.Sign up for your buyer agent commission rebate today!Save 1% off your home purchase price with a 33% rebate of the commission earned by your buyers’ agent.1% off the average NYC home worth $2 million is roughly $20,000 in savings!

Find a real estate agentThis is the typical first piece of advice you’ll find online for tips for buying a home in NYC. The typical article will suggest you work with someone you trust (who doesn’t have at least 5 real estate agent friends in NYC?), ask friends and family for a referral or look online for public reviews of top agents in your area.The primary flaw of this advice, much to the detriment of all home buyers, is that it doesn’t even present to first time buyers the possibility that they can get a buyer agent commission rebate to help cover their closing costs. While frustratingly uncommon in NYC even after it’s been legalized in New York by the New York State Attorney General, it’s almost criminal that we have not found one article in the first few pages of Google results that even mention the possibility of a commission rebate.The key for buyers to understand is that even though the services of buyers’ agents are pitched as “free,” you along with every other buyer are paying for it collectively in the form of higher sale prices. Just because sellers have to pay the broker fee (which is typically shared among the listing and buyer broker) does not mean they don’t markup sale prices to account for this cost. Given this clarification does it not make sense then to ask for a commission rebate to account for the higher purchase price you are paying?We suggest first deciding whether the average 1% off the purchase price in the form of a commission rebate is worth it to you when buying a home in NYC. If it doesn’t and you just want to work with someone you already know and are comfortable with (Russian and Chinese overseas buyers we’re talking to you) and the money doesn’t matter, then congratulations and you probably don’t need to be spending time reading this in the first place. If however, you think that 1% off your purchase price (that’s over $20,000 on average in Manhattan where the average sale price is now $2 million) is worth it, you’ll want to know whether receiving one will affect your ability to close on a scarce piece of inventory.Home Buyer Closing Credit: How it WorksWhile there may be unprofessionalism and listing broker discrimination against the typical one-man broker offering these types of rebates, there will not be any issues in working with a full-service broker affiliated with Hauseit. The key is to work with a top professional in your area who has full access to all listings and does not advertise him or herself as a discount in any way. You want the benefit of working with a full-service broker with a stellar reputation and also get the benefit of a commission rebate when buying a home in NYC.Get a Pre-Approval letter from your Mortgage LenderThe typical piece of advice online will suggest you get “pre-approved” so that you have a sense of what you can actually borrow and afford to buy. What they won’t tell you is that the best brokers won’t work with you unless you can demonstrate that you are a real buyer. That means if you’re going to need financing, you have already been “pre-approved” by your bank or mortgage lender and that you have a minimum of 25% in a down payment. A bank pre-approval letter is much stronger than a simple pre-qualification letter. The former means the bank has already partially underwritten your loan and typically means that you are already 80% of the way there. The latter is much easier to secure, typically as quickly as after a 15 minute phone call with a mortgage banker where no documents have been submitted or verified by the lender.As a result, if you’re going to need a mortgage, make sure you get pre-approved before you begin your search. This way, listing agents will taking your inquiries and offers much more seriously if you’re buying directly. And if you’re planning on working with a buyers’ agent, they will take you much more seriously as well if you’ve demonstrated your intent and ability to buy by already having a pre-approval letter.Begin Your SearchAt this point, the typical article you’ll find on the web will give you a range of fluff ranging from “move fast” to “exceed the ask” to “establish a connection” and to “show kindness and flexibility” to the seller. While most of these may make sense (and some are just common sense) under certain conditions, they are all automatically addressed if you have a competent agent.What’s more important is to clarify the advantages at this crucial stage of searching with an agent vs yourself. What’s important to realize is that one of the primary advantages of working with a buyers’ agent is that they actually do have fresher and more accurate listing data than consumers have access to.A consumer will typically use a popular search website like Zillow or StreetEasy in NYC; however, what they fail to realize is that these websites typically only refresh their feeds every day or two. In contrast, real estate agents in NYC are contractually obligated to update their listings immediately or face stiff penalties from the local real estate trade organization. An agent in NYC must update a listing’s status change within 24 hours or face fines that range from hundreds to thousands of dollars and suspension from their local interbroker database. And because agents update their listing data directly to their local interbroker database, which also happens to refresh almost instantaneously (we’ve heard 30 minutes or less), the data they have is by default always fresher and most up to date.Learn: Is buying a house without an agent in NYC a good idea?At this point, you should have an idea of whether you want to buy a condo, co-op or townhouse in NYC. Generally, condominiums and townhouses are more popular but priced higher because they are “real property” with all the traditional rights of real estate ownership. Co-operatives actually are shares in a non-profit corporation which actually owns the entire building. A co-operative owner receives a stock certificate and a proprietary lease with the right to occupy a certain unit in the building. Co-operative boards have much more power than condo boards as they are essentially a “Board of Directors” of the corporation. Please be aware that owning stock in a co-op is not considered personal property versus real property. Since it’s required to have a real estate attorney represent you in New York, make sure to ask them any questions you might have. They will handle the entire transaction after your broker has negotiated an accepted offer with the seller. Contrary to normal practice in other states, real estate brokers in NYC do not handle any of the contracts related to buying a home in NYC. Your real estate attorney will negotiate the purchase and sale contract and manage and represent you at closing.Don’t reach out to listing agents directlyAssuming you’ve decided to work with a buyers’ agent, you’ve got to respect industry conventions for buying a home in NYC and not make the “substantive first contact” directly with the listing agent. Doing so may give cause for the listing agent to refuse to work with your buyers’ agent because you are arguably a “direct buyer.” We realize this can be tough sometimes as you are eager to buy, looking at homes yourself on the internet and want to have your questions answered immediately. However, resist the urge to hit “Contact Agent” on a listing and instead send a list of your questions and listings you want to see to your buyers’ agent. Your buyer agent will reach out, schedule showings, sign you up for open houses and get your questions answered. It may seem cumbersome to have to work through a middleman, but the upside is you’ll have a loyal, dedicated agent who does have better data than you do who will help you schedule, negotiate and be with you every step of the way when buying a home in NYC.Learn more: How to choose a real estate agent in NYC if you’re buying a home

Blimey, right. Loads! Loads of roles! All called different things in different places, and the exact division of labour varies widely depending on the needs of the business. Here’s some thumbnail sketches. For anything other than Editorial, which I’ve been more granular about, assume there are more junior and more senior roles for all of these, depending on your experience.EDITORIAL:EDITORIAL ASSISTANT: Support the editorial team. Lots of admin.ASSISTANT (or JUNIOR, some places) EDITOR: Lots of admin and lots of checking proofs for errors.EDITOR: Project manage publication of a book, liaise between author/agent and your colleagues, write sales copy and blurbs, structurally edit books, sign off layouts, proofs, etc.COMMISSIONING (or SENIOR, some places) EDITOR: All that and you have to commission books as well - find, develop and sign talentDESK EDITOR: Manage the proofreading and copyediting stagesPROOFREADER: Check laid-out text for errors. Often freelanced out.COPYEDITOR: Check manuscripts for errors of fact, grammar, spelling, continuity, consistency. Often freelanced out.EDITORIAL DIRECTOR: A commissioning editor who manages other editors on the team, has a smaller list of higher-profile authors, and more responsibility for the direction of the listMANAGING EDITOR / EDITORIAL MANAGER: Super-administrator - monitors workflow, scolds you when you’re late with something, keeps schedules on track.DESIGN:DESIGNER: Design book covers and interiors, commission artists and deal with picture libraries.ART DIRECTOR: Manage design team, sign off on their work, direct the look of the various brandsTYPESETTER: Make novels easy to read by skilfully setting textMARKETING DESIGN: Make catalogues, point of sale stuff, and adsPRODUCTION:PROCUREMENT: Negotiate the best possible price and materials for printPRODUCTION CONTROLLER: Project-manage the printing and distribution of booksPRE-PRESS: Make sure production files are OK to go to print - check separations, etcDIGITAL: You probably need a whole parallel digital production team (if a somewhat smaller one) to prepare and manage ebook productionSALES:SALES REP: Literally go door-to-door to bookstores with sample books looking to secure orders from buyersKEY ACCOUNT MANAGER: Meet with big retail accounts on a regular basis to present the books you’re publishing, looking to secure ordersSALES SUPPORT: Do all the admin required to deliver stock as needed to stories who order it, including ordering reprints as demand requiresSPECIAL SALES: Develop sales opportunities with non-retail channels like book clubs and with retailers for exclusivesRIGHTS:RIGHTS EXEC: Sublicense the rights you have acquired but which you aren’t in a position to directly exploit - so, the right to publish in France, or the right to make a movie. Travel the world selling books to other publishers and creative businessesLEGAL:CONTRACTS: Draw up and negotiate contracts with authors and other entities.OTHER LAWYERING: Protect the company’s rights as necessary - often ‘freelanced’ out (most publishers don’t have in-house counsel, but will occasionally need to take someone to court.)MARKETING AND PR:PR: Manage a book’s PR: organise author tours, send out advance copies to reviewers, manage social media, and generally get the word out about the bookMARKETING: Do stuff that gets the word out but which you have to pay for: advertising, book trailers, samplers, fliers, creating point-of-sale material, and so on. May be a separate Digital Marketing role or team depending on the size of the business.FINANCE:ROYALTIES: Make sure royalties are paid to authorsBUSINESS/COMMERCIAL MANAGER: Scrutinise and sign off on costings so that you’re making sure that you aren’t spending too much or making too many risky betsPUBLISHING SERVICES:PUBLISHING SERVICES: Manage bibliographic data and make sure the various databases and information flows the company depends on, internal and external, are updated and consistent.EXECUTIVE:PUBLISHER: Usually an editorial person, responsible for shaping the list and making decisions on the strategic direction of it. The person you generally have to convince to take on a book. There will often be several of these overseeing different lists.DIRECTORS: The boss of a department, except for Editorial Directors, who would tend to be subordinate to a Publisher for some reason.MANAGING DIRECTOR: The boss.THE STUFF THAT PRETTY MUCH ANY OFFICE BUSINESS NEEDS AND WHICH I WON’T BOTHER EXPLAINING:HUMAN RESOURCESRECEPTIONPOST ROOMMAINTENANCEITPERSONAL ASSISTANTS