Edit post comments:
Reading through responses (I appreciate all who replied, it's really helpful), but I realized that the real question is, will the co-op board adjust pricing expectations (minimum) based on the condition of the unit? And is it better to mention before we submit the offer for review?
Thanks to all for the advice on my original post — it helped me make a decision, but now I have a new concern.
At the time, I decided to stay with my original agent because:
- They were very entrenched in the building (live there, have sold a large portion of units)
- Ties with the with the co-op board/process
- Timing (holidays + slow winter market) might have been real deterrents to selling so decided to give it another shot.
So I extended the listing.
After that… I heard nothing. For months. No updates, no feedback, not even a check-in.
That ultimately pushed me to switch agents.
My new agent is local, experienced, responsive, upgraded the photos/marketing — and we got an all-cash offer within days.
The offer
- All cash
- Lower than some recent sales
- But my unit is in significantly worse condition (older, needs major work, long-term sublet)
Context:
Last year, three similar units sold at roughly this same price — and they were in better condition
Higher sales were renovated units with features mine doesn’t have
Here’s where I’m really struggling (and could use input):
1. Financial pressure / board risk
I’m running out of money to carry this — maintenance + mortgage are adding up quickly.
A board rejection would be extremely bad for me financially, so I’m worried about:
- Whether this price could be seen as “too low”
- Whether boards actually reject deals for that reason
My current agent says she’s confident it’ll be fine, but I’m still uneasy.
2. Did my previous agent drop the ball — or filter out offers?
This is the part I can’t reconcile
I always thought:
Agents are required to present all offers to the seller — even weak ones, even ones unlikely to get board approval.
So if that’s true, then:
- I should have at least heard about something over those months
But instead:
- Zero offers
- Zero feedback
- Minimal communication
Then I switch agents → offer within days
So now I’m wondering:
- Did better marketing/presentation really make that much difference? or
- Is it possible my original agent didn’t bring me offers he KNEW the board wouldn’t approve?
Current listings in the building
There are still comparable units sitting:
- Two listed by my original agent
- Two in worse condition than mine - listed by another agent
- One in better condition
No idea if those are stuck due to pricing, condition, or board issues.
Main questions:
- Are listing agents actually required to present every offer, even if they think it won’t pass a co-op board?
- In co-ops, how common is it for boards to reject deals based on price alone?
- Does getting an offer within days suggest my previous agent completely neglected the listing (it makes not sense to me, would he not want to make $$)? Can this realistically just be timing + better presentation?
Would really appreciate perspectives