“Do I really need my own agent?” is a question buyers ask more often than you might think—especially in a market like New York City, where roughly 95% of transactions involve two brokers, one for each side of the deal. With endless online information, confusion around new commission rules, and a persistent belief that going solo will somehow lead to a “better deal,” it is understandable that some buyers are tempted to proceed without representation.
Having watched the consequences play out over decades in New York real estate—and having made early mistakes myself—I have a strong point of view: in a city as complex as this, going it alone is almost never the advantage it appears to be.
My Own Early Mistake: Representing Myself
More than twenty‑six years ago, I bought my first co‑op at 14 Horatio Street. At the time, I was practicing law and had none of the brokerage experience I have today. I decided to represent myself—not only as the buyer, but also on the legal side of the transaction.
Technically, it was possible. Practically, it was a poor decision.
The process became messy enough that I ultimately hired my own attorney before closing. There is a saying in the legal world: “A lawyer who represents himself has a fool for a client.” The experience drove that lesson home. Even if you believe you can stay objective, others may not see it that way, and that perception can lead to unproductive behavior from the opposing side.
The same principle holds for buyers who try to navigate a complex transaction without their own real estate advocate.
What the Law Allows—and Why It’s Not the Whole Story
In New York, buyers are not legally required to work with an agent. They have options:
- Proceed without representation
- Ask the seller’s agent to act as a “dual agent”—representing both sides
- Engage their own buyer’s agent
All of these structures are legal under New York law. That does not mean they are equally wise.
As a matter of practice, I will not act as a dual agent. When I represent a seller, I represent only the seller. Dual agency removes the clarity of a singular fiduciary duty, and my legal training makes me uncomfortable with that. I have, however, completed transactions where the buyer chose to proceed without an agent. That is their right. But it comes with real tradeoffs.
The Money Misconception: “I’ll Save If I Don’t Use an Agent”
One of the main reasons buyers skip representation is a misunderstanding about how commissions work.
Common misconceptions:
- Some sellers and less‑experienced listing agents assume that if there is no buyer’s broker, the listing agent will receive a windfall.
- Some buyers believe they are “saving money” by not involving their own agent.
In a typical sale where the seller is paying the commission, that fee is split between the listing agent and the buyer’s agent. Each side performs distinct, important roles.
When there is no buyer’s agent:
- The responsibilities of the buyer’s side do not disappear.
- They shift entirely to the listing agent, who must now coordinate directly with the buyer, their attorney, their lender, the appraiser, inspectors, and other third parties.
- The listing agent may need to facilitate due diligence with the managing agent and assemble a complete, compliant co‑op or condo board package—work that is highly detailed and time‑intensive.
In other words, the job gets bigger, not smaller. The notion that a buyer always benefits financially by going it alone is, in many cases, an illusion.
What Unrepresented Buyers Often Lose
The bigger issue is not who handles the paperwork; it is what unrepresented buyers give up in terms of leverage and protection.
Negotiation is about far more than price. It includes:
- Timing (when and how quickly things move)
- Contingencies (financing, inspections, sale of another property)
- Inspection strategy and how issues are presented
- Contract language and risk allocation
- Board approval likelihood and how to position the application
- Knowing when to push and when to pause
A skilled buyer’s agent understands these levers and can use them to protect the buyer’s interests. Without that support, buyers can inadvertently overexpose themselves, concede important protections, or signal urgency in ways that weaken their negotiating position.
As I often say, the most expensive broker is sometimes the one you didn’t hire.
What a Good Buyer’s Agent Actually Does in NYC
In New York City, a good buyer’s agent does far more than open doors.
They:
- Help buyers understand value in a market where no two apartments—or buildings—are truly identical
- Identify red flags early (building finances, looming assessments, problematic histories)
- Advise on offer strategy, especially in competitive situations
- Protect buyers from showing their hand too early or too aggressively
Then there is the co‑op board process, which is a world unto itself.
Board applications are:
- Extensive
- Time‑consuming
- Highly detailed
Financials must be presented correctly. Liquidity must be framed thoughtfully. Personal and professional narratives matter more than buyers expect. Many underestimate how nuanced, and at times political, the board process can be.
A seasoned buyer’s agent can anticipate questions, structure the package accordingly, and help avoid avoidable denials or delays.
The Emotional Buffer Buyers Don’t Know They Need
Real estate is emotional—especially in New York.
- Buyers often fall in love quickly.
- Fear of missing out is real.
- It is easy to become attached to a property before fully understanding its tradeoffs.
A buyer’s agent serves as a buffer and a stabilizing force. They can:
- Slow the process just enough to ensure due diligence is properly done
- Help buyers maintain perspective when emotions run high
- Preserve leverage by keeping negotiations focused and measured
It is challenging to negotiate effectively when, in your mind, you have already placed your furniture and imagined your first dinner party.
Why Deals Are Better When Everyone Has an Advocate
After several decades in the New York City market, one pattern is clear: transactions tend to be cleaner, smoother, and less stressful when everyone has their own advocate.
When each party is represented:
- Problems are anticipated rather than merely reacted to
- Negotiations are clearer and more productive
- Expectations are better aligned
- Deals are more likely to close instead of unraveling late in the process
So, do buyers legally need their own agent? No. They are free to proceed without one. But when you are making one of the largest financial decisions of your life in one of the most complex and idiosyncratic markets in the world, going it alone is rarely the advantage it appears to be.
If you are considering buying and want someone firmly on your side of the table—strategizing, protecting, and occasionally talking you off the ledge of an overly emotional decision—I am always happy to have that conversation.