There are a number of reasons to engage an NYC real estate broker on an exclusive basis. Reason number one: your valuable time. It’s just not efficient to work with multiple brokers, all of whom have identical listings. Non-exclusivity results in wasted time because your objectives must be reviewed with multiple brokers.
Streamline your search. And get loyal representation. A broker who has an exclusive is much more likely to focus on the assignment than a non-exclusive broker because he or she cannot afford to spend time working on a transaction where the odds of success are low.
As a practical matter, brokers who work on a non-exclusive basis do not have the same loyalty to the client. Typically they just want to complete the deal no matter what. In this case, you will not be represented loyally and could very well end up paying too much for rent and/or with a bad landlord who does not provide adequate services.
In contrast, working with a broker on an exclusive basis will streamline your search by shifting responsibility for qualifying leads and prospects to the broker. So you can focus on your business. An exclusive broker will ensure that your interests are aggressively represented in a challenging market.