Recently, I met an elderly couple who were looking for a home in Hartsdale. Their children had already moved out and were living in other states, and the couple wanted to spend their retirement in a quiet neighborhood. The problem was that terms like contingencies and closing date adjustments were unfamiliar to them. I remember explaining these aspects in Korean, which highlighted the importance of communication in the process.

The actual work of a real estate agent is broader than one might think. It goes beyond just finding listings; agents compile similar properties to create a Comparative Market Analysis (CMA) to help gauge appropriate price ranges. Simply put, this involves creating a price list of homes that have recently sold in the area to help determine if the home being viewed is overpriced or underpriced. Following this, the agent manages the entire process, including drafting offers, negotiating prices and terms, reviewing purchase agreements, coordinating home inspections and appraisals, and handling the closing. The National Association of Realtors (NAR) also identifies these six tasks as core responsibilities.

Starting from August 17, 2024, there will be a change in this process. Following the NAR lawsuit settlement, buyers will need to sign a written buyer agency agreement before viewing homes with an agent. This agreement must clearly outline the amount or calculation method of the agent's commission. If the terminology is unfamiliar, think of it this way: previously, discussions about commissions were often postponed until later in the home viewing process, but now the structure has changed to confirm conditions in writing from the start. Signing this contract without fully understanding each clause in English could lead to complications later, so thorough explanations are necessary from the very first meeting.

In Westchester County, where Hartsdale is located, the median price of single-family homes is projected to rise to $1,103,000 in 2025, a 17 percent increase from the previous year. While Hartsdale itself has seen a slight adjustment in the median sale price to around $407,000 in the last month, the average home value still remains at approximately $677,751. This indicates that there are temperature differences between neighborhoods within Westchester, and recognizing these subtle differences requires a long-term perspective on the area.

The advantages of working with a Korean agent become evident in these aspects. They can explain the details of contracts in Korean and recommend properties that consider the preferences of Korean families, such as school districts, access to Korean markets, and religious communities. An agent who has experience moving from Korea to the U.S. can also handle unique situations involving international remittance procedures or withholding taxes applicable to non-resident foreigners, such as FIRPTA and ITIN issuance, without difficulty. Additionally, they can connect clients with reliable professionals through a well-established network of lawyers, mortgage brokers, and home inspectors within the Korean community.

For example, families prioritizing school districts often compare Hartsdale with the neighboring Scarsdale. Both areas are highly regarded for their school districts among Korean families, but within the same budget, the size of the home, commute distance, and property tax burdens can vary by location. Presenting recent transaction examples side by side for both areas is one of the roles an agent can fulfill. Advising on the pros and cons of living in a rental first to get a feel for the neighborhood before purchasing versus choosing to buy right away is also advice that only someone who has observed the area for a long time can provide. There are times when the appraised value comes in lower than the contract price during the appraisal stage, and how to create room for renegotiation in such cases changes with experience.

However, market prices and school district information can vary over time, so please check resources like Zillow or local real estate association data along with the relevant timeframes, and verify school district boundaries by address. This article is not investment or legal advice, and it is advisable to consult with a professional before entering into any actual contracts.