There was a couple I helped who were moving from a four-bedroom house to a small condo in Flushing after their children became independent. The challenge was that they needed to coordinate both the sale and purchase transactions simultaneously. If the condo contract ended first, they would need temporary housing, and conversely, if the house sold first, they would have nowhere to move.

In such transactions, the role of the agent becomes clear. Here's a summary of their responsibilities:

• Searching for listings and determining prices through Comparative Market Analysis (CMA)
• Drafting offers and negotiating prices and terms
• Reviewing the terms of the sales contract
• Coordinating home inspections and appraisal schedules
• Managing the overall closing process

They also provide information on local market trends and school district details (source: NAR). In transactions like downsizing, where the sale and purchase are intertwined, coordinating the two closing dates is crucial.

After the 2024 NAR class action settlement, one procedure has changed. Starting August 17, 2024, buyer agents must establish a written Buyer Agency Agreement before showing a home. In a downsizing transaction, where one is both a seller and a buyer, it's essential to check the commission terms in both contracts (source: NAR).

The average home price in Flushing was $786,523 as of June 2026, reflecting a 3.1% increase from the previous year, and as of August 2026, the median listing price was around $714,000 (source: local real estate market statistics, 2026). Even within Flushing, the downtown area and East Flushing show different price ranges and property compositions. The downtown area tends to have more condos and mixed-use properties, while East Flushing has a higher proportion of single-family homes and multi-family residences, leading to different approaches even with the same budget.

Thanks to its location at the end of the 7 train line, Flushing attracts both Manhattan commuting demand and Korean community infrastructure. Families considering downsizing often prioritize properties with lower management burdens, such as condos or co-ops, but it's wise to compare not just prices but also monthly maintenance fees, as they can vary significantly by property type.

Reviewing the Buyer Agency Agreement in English alone can make it easy to overlook the commission terms. A Korean agent can clarify these terms in Korean, helping to alleviate the burden in situations where both transactions need to be managed simultaneously.

Even when moving to a small condo, it's still important to consider whether it's within walking distance to Korean markets or churches, and whether public transportation makes it easy to visit children's homes. An agent with extensive experience in Flushing can provide specific insights about these conditions at a neighborhood level.

If you are organizing assets in Korea to move to the U.S. or managing sale funds as a non-resident foreigner, there are additional considerations such as international remittance procedures and FIRPTA withholding. An agent who frequently handles these processes can help coordinate the timing of both transactions along with these aspects.

Approaching the U.S. co-op and condo ownership structure with only experience from transactions in Korea can feel unfamiliar. Flushing has a high proportion of co-op listings, so it's often necessary to prepare separately for co-op board reviews and financial document submissions. An agent familiar with transaction methods in both countries can provide advance guidance on these procedures.

On closing day, there are several documents to verify, including title insurance, loan documents, and the final settlement statement. If both transactions are occurring simultaneously, it's helpful to have a clear understanding of the cash flow, including when funds from each transaction will come in and go out.

A reliable network of attorneys, mortgage brokers, and inspectors becomes even more valuable in situations like downsizing, where two transactions are interconnected. This article is not investment or legal advice, and it's recommended to consult with professionals to review individual circumstances before finalizing any contracts.