We're pleased to share that Dylan Hoffman was recently featured by HomeLight in its guide to top real estate brokerages in New York City. HomeLight highlighted Dylan as a top New York real estate agent with Compass and noted his more than two decades of experience in the industry.
Top Real Estate Brokerages in New York City
If you’re looking to sell your New York City home, one of the best tools you can add to your arsenal is partnering with a trusted local real estate agent. The real estate market in New York City is competitive, and selling a home is a complex process.
A trusted local agent with a top real estate brokerage in New York City can help you demystify the process and get you the best value for your property when it hits the open market.
As of August 2024, the average days on the market in New York City—that is, the time it takes for a home to sell once it has been listed—is 69 days. Homes typically sell for a median of $800,000, a 0.36% decrease from the previous year.
This guide will provide you with a list of local trusted agents in your area from top brokerages or real estate companies in New York City, along with some alternatives to consider, particularly if you need to sell your New York house fast.
What is a real estate brokerage?
Real estate brokers are professionals with additional training and are licensed to run their own businesses, called brokerages. Agents without a broker’s license must work under a brokerage to legally buy or sell property and typically do so as independent contractors. Most brokerages make money by taking a portion of the agent’s commission from each successful transaction.
Since brokerages profit from agents’ success, it’s in a brokerage’s best interest to support its agents. For sellers, it’s important to consider the kinds of support that a brokerage provides its agents.
This support can often include training, access to large marketing networks, the latest technology, or a large support staff.
Why work with an agent?
There are several reasons why you should consider working with a real estate agent when selling your home rather than selling on your own.
One of the biggest reasons is that selling your home “for sale by owner” will typically net you less overall profit than selling through an agent—23.5% less on average, according to the National Association of Realtors. FSBO homes sold for a median price of $310,000 last year. In comparison, homes sold with the assistance of a real estate agent had a median sale price of $405,000. That’s a difference of $95,000.
Additionally, a real estate agent can help you get more money for your home sale but can also help you wade through a lengthy and complicated sales process.
An agent is your advocate for both you and your property, and they can provide insight into their local market or assist you in finding a real estate attorney who can deal with any unexpected complications that might occur.
List of Top Brokerages in New York City
Not all brokerages and agents are created equal, and there are countless options to choose from. Rather than wade through an endless list of companies, we’ve compiled a list of some of the top real estate brokerages in New York City, along with some top real estate agents, for you to consider on your home-selling journey.
Compass
Founded in 2012, Compass has been one of the largest U.S. residential real estate brokerage by sales volume for three consecutive years, with $184 billion in 2023, according to RealTrends. Despite a 15.5% drop in transactions due to rising interest rates, Compass performed better than the national average decline of 18.7%.
Headquartered in New York City, Compass operates over 300 offices across 72 markets, with a strong presence in major metros. Compass has around 14,689 principal agents.
Dylan Hoffman is a top New York real estate agent with Compass with over 20 years of experience. His homes sell for an average price point of $1 million. Hoffman serves customers in Brooklyn, New York, and Long Island City.
Top Real Estate Brokerages in New York City
Published on October 24th, 2024
Joseph Gordon - Editor
Header Image Source: (dibrova/DepositPhotos)