As luxury buyers pause, brokers turn to rental apartments

The Real Deal

By Meenal Vamburkar | July 02, 2018

As luxury buyers take refuge in the rental market, sales brokers are being forced to adapt.

In the midst of a sluggish sales market, would-be buyers are turning to the high-end rental market to wait out the uncertainty. As a result, sales brokers have found themselves working with a shifting group of clientele and increasingly negotiating pricey rental deals.

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In a similar vein, Malessa Rambarran and Candice Milano pointed to the example of a client who was unsure about what he wanted to buy and looked instead several rentals in Soho around the $15,000 price point.

“‘We’re definitely seeing an increase of clients being more cautious,” Milano said. “Buyers are more sensitive to changes in the market.”

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