PASS YOUR NYC CO-OP BOARD INTERVIEW
Navigating the New York City real estate market is a journey filled with unique challenges, and among the most intimidating is the infamous co-op board interview. Securing your dream co-op is more than just about price and location; it's about making a compelling impression on the board members. After all, they hold the key to your future home. While the thought of sitting across a table from these gatekeepers can be nerve-wracking, being prepared can significantly tilt the odds in your favor. Our comprehensive guide offers insider tips to help you confidently navigate and ace your co-op board interview, ensuring your transition into your new home is as smooth as possible.
Being invited to the interview is a good sign. It is the board’s opportunity to meet you and ask specific questions about your application. The interview style can range from an informal gathering of board members in an apartment to a formal interview with members lined up at a table and you in the hot seat.
Dress up and be prompt. Regarding dress and promptness, you should treat a board interview like a professional job interview.
Prepare for a lack of privacy. The board has great latitude in the kinds of questions it can ask, so be prepared to answer some personal questions and do not be angered by this intrusion.
Be familiar with your application. You should be able to quickly and concisely answer any questions about your application, preferably without looking at it. However, if necessary, bring a copy along.
Couples - decide in advance who will answer what types of questions. For example, one of you may agree to answer all financial questions, and your spouse will answer the other inquiries. Try to avoid discussing answers to questions with your spouse in front of the board.
Unlike a job interview, do not try to sell yourself. Just answer the questions asked and let the board run the show. Boards rarely turn down applications for being too dull.
Do not volunteer information. It is unnecessary to engage in unsolicited conversations except for basic cordial remarks and greetings.
Do not ask too many questions. Questions can often unintentionally convey negative information to the board. For example: “Do you have any plans to renovate the lobby” is an innocent question likely to offend the board member in charge of the last lobby renovation.
A short interview is better than a long one. While there are no hard and fast rules, a short cordial interview with a few board questions and remarks is often the best co-op board interview.
Do not expect an answer at the end of the meeting. Most boards do not decide until a day or two after the meeting. Your real estate broker and your attorney will take the necessary steps to determine if you have been approved.
DIRECT PHONE
(917) 825-7787
craig.yoskowitz@corcoran.com
ADDRESS
The Corcoran Group
125 Seventh Avenue
Brooklyn, NY 11215