How do you evaluate an agent's fee and service scope in New York?

A

AdaBrooks

Mortgage adviser
Established
The biggest surprise was how little the fee itself revealed once I lined up the proposals. For a New York small multifamily likely to sell near $215,000, one quote may include photography and transaction coordination while another leaves those responsibilities unclear.

I am thinking of sending every agent the same scope sheet and asking them to mark each task as included, excluded or separately charged. It would cover recent comparable sales, the photography deliverables, buyer screening, offer presentation, day-to-day file ownership and support after a failed transaction. I also want written disclosure of any connection to a buyer or referral source.

Would that produce a fair all-in comparison, or am I assuming the assignments are alike when access may be the larger issue? The property’s occupancy and the person responsible for coordinating showings could materially change the workload.
 
Compare the likely all-in cost, not just the headline fee. Ask each agent to mark every task as included, excluded or charged separately, then explain who performs it. A low fee loses its appeal if you must arrange photography, chase buyers and coordinate the file yourself.
 
Is the property occupied, and would access or communication with occupants be part of the assignment? For a multifamily, showing coordination could consume more effort than the listing materials. That missing detail may change which proposal is genuinely comparable.
 
Put the proposals into one table: fee basis, photography deliverables, showing arrangements, qualification steps, offer presentation, negotiation, accepted-offer support and closing coordination. Leave no box labelled merely “full service.” Ask for a specific description.
 
Also identify the named person at each stage. The person making the pitch may not be the person answering calls, presenting offers or dealing with a transaction that starts slipping.
 
I wouldn’t give response-time promises too much weight by themselves. “Replies within an hour” can mean an acknowledgment with no useful answer. Give each agent the same short transaction scenario and ask what they would do, who would act and when you would hear back.
 
Ask what “fall-through support” actually covers. Does it mean calling the next interested party, continuing marketing, helping resolve a buyer-side issue, or simply relisting after the deal ends? The phrase is too vague to price without examples.
 
Good point from Nadia about access. I’d also ask how each comparable sale resembles this property. A long list of transactions is less useful than a few recent examples involving similar multifamily properties, condition and location.
 
Photography needs its own questions: who selects and pays the photographer, what areas are covered, whether floor plans or editing are included, and what happens if the first images are poor. Don’t assume the word “photography” means identical work in every proposal.
 
Another distinction is whether those comparable sales were listings the agent represented or merely properties they cite as market evidence. Both can be informative, but they answer different questions about local knowledge and execution.
 
For buyer qualification, ask what information is requested before an offer is treated as credible and how updates are obtained if financing changes. I’d avoid accepting a general promise that all buyers are “screened.” You want a repeatable process, not a label.
 
Have them describe offer handling in writing. Will every offer be passed to you promptly? Will terms, contingencies and timing be compared in a consistent format? And who contacts buyers when something is incomplete? That is where service differences become visible.
 
Include conflicts in the discussion. Ask how the agent would disclose and manage any situation where the same brokerage is connected to more than one side. The exact obligations can depend on the New York arrangement, so the written explanation matters.
 
The fee basis also needs precision. Is it calculated from the agreed sale price or another amount, and which separate expenses could still be yours? You can’t compare two proposals until both use the same assumed $215,000 outcome.
 
I’ll add a caveat: the highest package is not automatically the strongest. Photography and coordination are useful, but they do not compensate for weak pricing advice, poor communication or an agent who delegates everything without clear responsibility.
 
A practical test email could say: “Two offers arrive late Friday, one has stronger pricing and the other cleaner terms. Walk me through Monday morning.” The answer should reveal how they compare offers, contact parties, advise you and document your decision.
 
On the conflict point, ask for an explanation tied to the proposed representation arrangement rather than a generic answer. New York details and terminology can matter. If anything remains unclear, have the actual agreement reviewed before signing rather than relying on the sales presentation.
 
Deadlines are the real test here. Ask who covers when the named contact is unavailable and how urgent messages are escalated. A team can be an advantage, but only if responsibility is explicit instead of everyone assuming someone else has the file.
 
What are the agreement term and exit conditions? Service can look comprehensive on day one but disappoint later. You should know what happens if marketing stalls, communication deteriorates or you want to change direction, including any costs already committed.
 
Separate pre-offer work from accepted-offer work. Some proposals sound complete because they describe launch and showings in detail, then become vague once an offer is accepted. Ask for the exact coordination they provide through the planned closing.
 
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