October 10, 2007
Co-Brokering For Fun And Profit
A kindly and knowledgeable administrative assistant for one of the bigger outfits delivered these insights to the co-exclusive discussion.
"As long as you have the two agents from the different companies 'working' together and communicating on a daily basis, I think it's OK to do a co-exclusive – but only if it's done with the communication lines open. This way, the week one company doesn't advertise or whatever, the other one does. It gives both companies the 'chance' to sell it.
"The downside? One company is going to lose money if the co-exclusive company sells. Usually the agreement is 80/20, 80 going to selling broker, 20 to co-listor. From an agent's standpoint they feel, why should they do half of the effort if they may only get 20 percent if the co-listing company sells it? Can't blame them for that. If the co-exclusive could be 50/50 it might make more sense and co-exclusive agreements would probably become more commonplace.
"So [there are] pros and cons from an agent's stand point. The customer doesn't care as long as his property sells and he/she is represented by marketing and or open houses, etc. But I think the customer should realize that by giving a co-exclusive the agents may or may not put their FULL EFFORT into marketing a property."
The Corcoran Group has announced the creation of a Commercial Real Estate Division for its East End offices. The launch of this division marks the first real estate company on the East End to have a formally designated commercial real estate group. This will involve a designated team of expert agents, commercial specific signage, marketing and website designation.
"As the East End becomes a year-round destination, the demands for commercial properties and broker representation in leasing, selling, and buying commercial properties is exponentially increasing. As the market leader in residential real estate sales and rentals, The Corcoran Group will offer the superior services of our commercial real estate experts to an ever-expanding client/customer base."
Members of The Corcoran Group include: Kathy Anrig, Westhampton Beach; James Arnold, Bridgehampton; Roger Blaugh, Paul Henneforth Southampton; Fred Butti, Lee Minetree, Charlotte DePersia, Sheila Smith, East Hampton; Marc Heskell, Greg O'Halloran, Sag Harbor; Sheri Clarry, Southold; Lynda Passaretti, Montauk; Frank Schwal, Hampton Bays.
A gentleman named Rick Koller, the COO of Tauscher Cronacher, founded the home inspection industry. He is receiving a peer award at a recent Washington D.C. conference for the anniversary. That industry needed a founder.
After buying Roy Scheider's oceanfront Sagaponack home in the neighborhood of $16 million, Billy Joel picked up the cottage next door asking close to $13 million. Very nice neighborhoods. Can the Piano Man really appreciate whoever released all that information and more to the NY Post? But then whaddoIknow?
East End real estate? A very strange business.
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