NYC Brokers Reveal Dark Side of Luxury Real Estate Market

NEW YORK CITY, New York — In the glamorous world of high-end real estate, brokers cater to the whims of the ultra-wealthy, but the lifestyle comes with unexpected demands, insiders say.

“We’re like a concierge service,” Peter Zaitzeff of Serhant told The Post. High-end clients expect favors that go beyond mere property sales, such as handling restaurant reservations and even cleaning their homes. Zaitzeff mentioned that clients often consider them akin to domestic staff.

Just weeks ago, Brown Harris Stevens agent Lisa Simonsen had completed a $10 million apartment sale when her client made an urgent request. He wanted a last-minute dinner reservation for a group of 12 at Casa Tua, one of New York’s most coveted clubs. “He wanted it in the next two hours!” she said.

The requests dealt with by NYC brokers often extend to babysitting, walking dogs, or even acting as art consultants. Compass agent Vickey Barron recounted a challenging experience with a couple and their three active children. She was asked to take the kids to Central Park while they looked at apartments, resulting in a chaotic two-and-a-half-hour adventure.

“I thought I was going to lose my team member,” said Barron. “One climbed a tree and wouldn’t come down.” Other brokers have similar stories, with Nadine Hartstein of Bond recalling a situation where she found herself taking a foreign buyer’s sheltered children trick-or-treating.

Pets also add complexity, Barron explained, as many sellers hesitate to remove their animals during showings. She shared a story of a cat that escaped during a showing, leading to a building-wide search.

Despite the challenges, many brokers agree that exceeding client expectations ultimately pays off. Zaitzeff emphasized that going the extra mile can lead to future business. “Nothing is beneath me,” he said.

However, the culture of expectation can lead to difficult situations. Vincent Pergola, a broker with Elegran, recently faced what he felt was extortion from a wealthy client. After securing a record rent, the client unexpectedly requested expensive headphones instead of the celebratory dinner they had previously discussed.

Overall, the intense nature of New York City’s luxury real estate market means brokers must often navigate extreme demands and provide services that seem well beyond traditional real estate duties.