I have been trying for 8 months with a listing agent to sell a 3 bed coop in jackson heights, NYC. It is priced correctly, we do open houses, MLS is at 2% to agents for co-brokes.
nobody is coming to see this apartment, no activity, any idea if this is seasonal or just a bad time to sell in NYC.
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Well right now is possibly the worst time to be selling anywhere. It’s not you or the location, in fact New York is a great location. The problem is that with the economy the way it is now, everyone is selling. People who entered into mortgages a couple years ago who could afford it, all of a sudden are finding it difficult to continue making the payments as well as being able to live comfortably. The best thing to do (if you can afford it, or its not a necessity to move i.e. new job, marriage) would be to, for lack of better terms, suck it up and wait a couple of years till the market becomes a sellers market. Right now it is a complete buyers market (as hopefully your agent has told you) so people who have the money are buying while there are a much significant higher number of people selling. Unfortunately, if you need to sell the location, you may need to drop the price. If you need examples, I would be more than happy to talk to you and help you along the way (and no, unlike your agent I wouldn’t charge you anything haha.) Just e-mail me back and I’ll get your contact information and help you out. Good luck with everything if I don’t hear from you.