Let’s get into the crazy world of the Big Apple real estate market and understand why in New York there are more real estate agents than frustrated actors looking for their big break on Broadway.
📌 The City Where Everyone Wants a Piece of the Land
New York is not cheap, never has been and never will be. But that doesn’t stop everyone from wanting to buy, sell or rent.
🏢 Manhattan, Brooklyn, Queens, Bronx and Staten Island. No matter the area, there is always someone buying, investing or speculating.
💰 Absurd prices → A tiny studio in Manhattan can cost more than a mansion anywhere else in the world.
🌎 Foreign investment → Millionaires from China, Russia, Saudi Arabia and half of Europe come to buy properties as if they were stickers.
Result: an army of real estate agents ready to sell you an apartment, a basement, a rooftop or whatever it takes.
🏡 How many real estate agencies are there in New York?
If I tell you that there are over 25,000 active real estate agents in the city, I’m not exaggerating. The city is infested with real estate offices, and if you’re looking for an apartment in NYC, they’re going to chase you more than phone company salesmen.
💼 Agents galore → Literally anyone can become a licensed real estate agent in New York.
🏢 More agencies than Starbucks → And Starbucks is already on every corner.
📈 Brutal competition → If you think there’s a real estate war in your city, in New York it’s like “Game of Thrones” but with leases.
💰 Shopping in New York: Mission Impossible?
If you have money and patience, you can shop in New York, but don’t expect it to be a walk in the park.
📍 Prices change every week.
📍 Agent commissions are sky high.
📍 There are rules that force you to prove that you can pay for the air you breathe.
And let’s not talk about the co-ops, those buildings that not only demand that you buy the apartment, but also that you have to be liked by the board of owners for them to accept you. If they don’t like you, no matter how much money you have, they say no and you look for something else.
📢 Why does New York have so much real estate?
Simple: because there is more movement of money in bricks and mortar there than anywhere else.
🏦 Banks are happy to give mortgages to the rich.
✈ Foreigners see New York as the best possible investment.
💼 Everyone is constantly moving, which means the market never stops.
And if there is a lot of money at stake, there will always be real estate agents.
🏆 Want to Buy or Sell in New York? Get Ready for War
If you ever decide to get into the New York real estate market, keep this in mind:
✔ You’ll have to talk to at least 10 agents before you find something decent.
✔ Fees, taxes and commissions will make you want to cry.
✔ If you find a bargain, someone has already bought it before you.
New York is the ultimate real estate jungle, and if you survive there, you can buy a house anywhere in the world without fear.
