Co-exclusive Listings?
Started by mjsalisb
almost 15 years ago
Posts: 177
Member since: Sep 2006
Discussion about
I'm keeping an eye on family size prewars and noticed a listing today at 1435 Lexington (6E) which apparently is co-exclusively listed with both Halstead and Stribling. Don't see too many listings like that in Manhattan. Anyone know how the agreements work when there are two listing agents? Do the listing agents agree to split the fee regardless of which firm produces the buyer? How about advertising expense? Why would a seller go this route? I could see the opportunity for hassling over a number of issues not the least of which accusations of "free-riding" by one listing agent against the other
Anyone?
Each side in the divorce wants their own agent?
i think this is common outside nyc. i often see 2 signs on places in the burbs/hamptons with "co exclusive" marked
The terms of a co-exclusive listing agreement, like an exclusive one, are negotiated by the seller and the listing agencies. Why not call the agents and ask?
Tina
(Brooklyn broker)
Raddoc, I think you might be on to something.....and as to calling an agent to get the details, not so sure I'm going to get very far with that idea.....just guessing....but now if a broker from Brooklyn were to call.....
sometimes it's that there's the agent that you think will move the place, and then there's the agent in the family, and the sellers are trying to accomodate both of them ...
ali r.
{downtown broker}
FP....also a possibility....and since it was Stribling that paid for including the property in its Thursday NYTimes ad insert (and not Halstead), I bet I know which one works for which....
Sometimes a co-exclusive can be a really bad idea for a seller. I will only do a co-exclusive where I a) believe the other agent is at least reasonably ethical, and b) there is Some form of compensation for BOTH listing brokers no matter who sells it. the reason for this is that if only the one who gets the sale gets any $, what you often get is the listing broker who works most against the seller's interest makes the sale (convincing buyers and brokers to go thru them rather than the other broker because they can get them the property for less). I can't tell you how many times I've seen that happen.
Is it possible to have an open listing where the selling broker gets six percent and there is no listing broker?