We are focused on representing property buyers while providing best-in-class service, undivided loyalty, high-quality strategic advice, independent research and unbiased assistance.
We know the time it takes tracking down and researching a new home or investment property in New York City. So where do you start when new properties come to market daily? Elika is the leading Buying Agency, who has instant access to all New York City real estate and our complimentary buying service is readily available to help you track down your perfect property. Discuss directly with an Elika agent your full requirements, and we will provide you with a carefully considered list of potential properties. Organizing an itinerary to view your chosen shortlist, Elika will look after every detail and accompany you on the viewings, ensuring your time visiting is meaningful.
When you are looking to buy real estate in New York City, you need the best professional help that represents your interest you can find. Many buyers use sales agents and spend time shopping through undesirable properties, sorting through misinformation, and blindly negotiating.
Real Estate sales agents are helpful when you’re selling a property, but their goal is to sell properties regardless of whether the properties are ideal for your needs, budget or lifestyle. When buying real estate, you need a dedicated, unbiased buyer’s agent who will work exclusively for you to find the right property and negotiate the best terms and price.
As a true buyers agent, we strive to provide best-in-class service and execution enabling our clients to achieve and exceed their strategic housing or investment goals.
Elika Associates is the premier New York City firm that specializes in exclusive buyer representation. As a member of The National Association of Exclusive Buyer Agents (NAEBA), our fiduciary responsibility and undivided loyalty is to the buyer 100% of the time. Also as a member of the Real Estate Board of New York (REBNY), we have access to all listings in New York City. Whether you are a US resident or foreign investor we cater our services to your specific real estate needs and best of all our fee is paid by the seller.
We are compensated as any other Broker and paid through the proceeds of the sale. Customarily, fees for real estate brokerage have been “built-in” to the purchase price of the property. This means that a typical purchase will result in no additional out-of-pocket fees for you!. Technically when purchasing a property, you are paying to have representation or not to have representation.
When an apartment sells, half of the 5% or 6% commission is paid to the real estate company that brings in the Buyer and the other half is kept by the company listing the property for sale, representing the Seller.
But when the real estate company which lists the property also brings in the Buyer, that real estate company keeps both the sides of the commission.
You may be thinking the higher the price you pay for the home, the higher our commission will be, so how does this work? We have a fiduciary responsibility to get the home at the best price for you, not the highest commission for ourselves. We know that our business expands only with satisfied clients.
Remember, you would not hire your spouse’s attorney to represent you in your divorce. The same applies to Real Estate.
Let an Elika expert search, filter and send you the best available New York City Condos, Co-ops or Townhouses for sale that match your specific housing needs: Request a CUSTOM SEARCH or CALL: 212-590-0545
If you are buying a home in NYC, should you hire an agent or broker to represent you? The quick answer is yes. – StreetEasy
Why to choose a Buyer Agent?
It is important that the agent you choose works for you. Working with a trusted expert and buyers advocate helps you achieve your dream of home ownership without unpleasant surprises. Elika is the only Exclusive Buyers Agent in Manhattan eligible for membership in the National Association of Exclusive Buyer Agents.
= Undivided Loyalty - Confidentiality - Full Disclosure.
BE WARY OF DUAL AGENCY - Department of New York State:
U.S Department of Housing and Urban Development 2010
The latest HUD Settlement Cost Booklet recommends the use of an Exclusive Buyer's Agent. - If you want someone to represent only your interests, consider hiring an exclusive buyer's agent who will be working for you.
In the realm of real estate, there have always been buyers agents, but most buyers were never made aware of this. When they wanted to buy a home, buyers went to a real estate agent for help in finding the best home for them, not knowing that a real estate agent is legally bound to represent the seller. This fact created quite a bit of confusion and led to a general distrust between agents and buyers.
The FTC eventually pressured the real estate industry to provide consumers with a written disclosure showing who they represented during the buying/selling process. In the 1990s, this pressure spread to most states. In 1993, the National Association of Realtors finally admitted the importance of the buyer agency and forced real estate agents to finally be honest about their actual roles.
There are four types of real estate agencies, each with a definite distinction:
Whether consumers choose a dual agent or a buyer's agent (also called an exclusive buyer's agent) comes down to the importance, they place on the business relationship. If they do not mind sharing attention with the seller, they will be fine with a dual agency. But those who prefer one on one attention from their agent will want to choose a buyer's agent. The thing to remember is that dual agents rarely introduce themselves as such, leaving consumers to determine for themselves just where an agency stands. This usually means reading the fine print on the buyer agency agreement or checking the paper for listings placed by the agency; an agency with a lot of real estate listings represent sellers as well as buyers. If they have not properly shared that information with their customers, it is best to walk away.
A conflict of interest is easy to avoid, as long as consumers see it coming. A home buyer who wants to buy a home that is listed with their buyer agent's company will be faced with a conflict of interest. For the real estate agency, this representation of both buyer and seller is referred to as an in-house sale. In this position, the agency receives a double commission on the sale if it proceeds. While this is beneficial to the agent and his company, it is rarely fair to the buyer. Most wise buyers are aware of the implications of working with a dual agency and as a result, choose to work with an exclusive buyer's agent. Such reputable sources as Business Week, Money Magazine, Kiplinger's Personal Finance Magazine and U.S. News and World Report also support the use of a buyer's agent over a dual agent.
How To Choose a Buyer's Agent
The right buyer agent will help you find a great New York home quickly while limiting your costs and making the buying process much easier. However, considering the substantial financial preparation that you'll need to undertake when buying a home, you should carefully choose an experienced buyer's agent who will help you find the right properties and negotiate the best possible price. You'll need a buyer's agent who is:
For some agents, the sale is more important than the client's satisfaction. Our buyer agents only handle buyers and have a strong incentive to find client-appropriate properties. As an exclusive buyers agent, Elika provides without limitation, fiduciary duties to the buyer that include undivided loyalty, confidentiality, and full disclosure.
You need a full-time buyers agent with experience and education. Our agents have numerous certifications and undergo regular training to stay informed of the latest changes in New York real estate. They work full-time to find unbiased information about the best properties in the city.
The best agents understand the New York property market and know how to match properties to their clients. Elika Associates agents select desirable properties of interest and never waste time on substandard apartments that won't meet their clients' expectations.
Our agents know how to determine the real value of a home, even when it has not been staged properly. We can see through misleading copy and give you real information about the investment potential of any home. Elika Associates agents will also preview potential properties, substantially cutting down on the time that it takes you to find the perfect home or investment.
The selling price of a home is largely determined through a negotiation process. In New York, sellers have experienced agents who know how to negotiate--every buyer needs the same resource. Our agents optimize your overall value by helping you decide on a starting price and by negotiating intelligently and firmly for the best possible gain.
Throughout the home buying process, you will want a fast, reliable point of contact. Elika Associates buyer agents are responsive and comprehensive. They give you accurate information that you need to make important decisions about your new home. Our agents are dedicated client representatives, and when you work with Elika, you will feel confident and informed every step of the way.
The Advantages of an Exclusive Buyer's Agent
Elika agents offer serious benefits by giving you a structured, informative view of each property. We focus on delivering an assessment of actual real estate value. As we gather information about various properties, we will cut through marketing copy, talented home staging and other sales techniques that often lead to a bad deal.
We also make sure that we are not wasting your time by presenting substandard properties that do not fit with your plans. As our brokerage firm works exclusively with buyers, we ask our clients detailed information about their goals and lifestyles. We use this information to suggest options for each buyer.
Help you spot misleading information in a property listing
Identify overpriced properties and discourage impulse buying
Professionally negotiate on your behalf to cut property prices
Speed up the closing process, board applications, and other frequent delays
At Elika, our goal is to give our clients a new real estate buying experience. Every part of this experience offers improvements and advantages that would never be possible when buying a home through a more traditional agency.
Taking Stress Out of Real Estate
Inexperienced buyers often make embarrassing, costly mistakes, especially when buying New York City real estate. An experienced buyer's agent saves you money by giving you the information that you need to make informed decisions before submitting any offers.
Elika's agents also work to save you time and to make the buying process a much less stressful experience. We will make offer recommendations, handle tough negotiations and prevent high-pressure sales agents from leading you into a bad deal. We draw on decades of combined experience to make sure that you have a real understanding of each property and the New York housing market as a whole.
A conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its brokers as a buyer agent. That's why many people believe an 'exclusive' buyer broker is preferable. - Business Week
Buyers are often confused or frustrated by certain aspects of real estate. We give you easy-to-understand property valuations and handle many aspects of the buying process internally, saving you time and money. You will make better buying decisions, as you'll have all the information that you need to be laid out clearly, but you'll also spend less time making those decisions.
To make the purchasing process easier, our exclusive buyer’s agents move quickly to present you with concrete facts about multiple high-quality properties. As our firm doesn’t handle sales in any capacity, we have no conflicts of interest when providing:
We have experience in the New York housing market and always find essential information about properties before we show them to our clients. Buyers need to know whether properties are likely to gain value, and by carefully screening the market and previewing properties before showing them, we’re able to spot excellent real estate deals that match our clients’ needs. Learn more: Comparable Market Analysis
Many home buyers are uncomfortable with negotiations, and when buyers have only worked with sales-oriented brokerage firms, it’s easy to understand their reservations. Elika agents have experience with dozens of home negotiations and will make sure that you’re not oversold on a property.
Mortgage brokers, lawyers, home inspectors and other professionals can quickly add to the cost of your home purchase. We source the best professionals and help you make the necessary arrangements to purchase your home quickly and easily.
Our buyer’s agents offer a new way to view the housing market and to find your dream properties. Save yourself time, money, and stress by using buyer’s agents from Elika for your next home purchase.
Buying a home is one of the most important investments people can make, and the US Department of Housing recommends the use an Exclusive Buyer’s Agent. Elika Associates is the only firm in Manhattan eligible for membership with the National Association of Buyers Agents and provides undivided loyalty to customers at all times. As of the beginning of 2011, New York State now requires that real estate agents disclose their agency relationship and the rights and obligations it creates. New York State Disclosure Form for Buyer and Seller to clarify agency prior to representing a buyer and/or seller.
Speak with an experienced and knowledgeable agent for a free consultation.