Brokers pay more attention to needy first-time buyers

Largely ignored during the boom because of their relatively paltry budgets, first-time buyers have suddenly found themselves among the most highly coveted client groups for New York City's real estate brokers. With few deals to latch onto, brokers have started paying much closer attention to them and are now giving them first-class status. In this month's Q & A, brokers told The Real Deal that first-time buyers now constitute anywhere from 30 to 70 percent of all of their clients. That's a jump from 15 to 50 percent from before the credit crunch. While these first-time buyers require far more handholding than those who are on their second or third apartment purchases, they are pulling the trigger in greater numbers. But, as one broker put it, they are still not "ready to get married" right away and are more demanding clients because they want to see more apartments and need tutorials on everything from property taxes to the financial structure of a condo or co-op.