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1. I saw the apartment with the exclusive listing broker in March 15, 2012.
2. On June 1, 2012, the owner gave exclusive to a new broker.
3. If I buy on September 1, 2012 - who gets the commission?
Both brokers split?
current broker unless you were put on exclusion list. i would expect that even that list would be past the reasonable timeline that would be set.
Our brokerage agreement said if we sold to anyone on the prospective purchaser list provided at termination of the brokerage agreement, any contract signed with any party on that list within 90 days would be subject to the commission.
This is really a question about firm-to-firm politics: I can imagine a world in which you saw an apartment with Broker A, Broker A has you on an exclusion list that gets handed to Broker B, and... even if the exclusion runs out, Broker B's firm decides to pay Broker A's firm something just to keep good relations between the firms.
DG Neary Realty
Ali, your wealth of knowledge, and of "smarts" continues to amaze me.
IMHO, most buyers, in most situations, would be missing out on alot, by using any other broker. (this does not include the unique cases of small specialized brokerage houses, that rebate and also with clients who are ready to do most of the legwork).
In any other case, you are the broker of choice, IMHO. and that being the case, my opinion is obviously always right, i wonder that you have time to post here. and that is not meant to be a negative, just makes me think, that RE is not really doing as well, as many would have us believe.
BTW, and totally off topic, is there any way to know if a house for sale is being sold by owner, or by an insurance company which may have already paid off owner per the policy. LOL show me one case, but seriously can one know who the seller is, owner or insurance company that paid off after, say a tornado, on a house that was a total destruction? clearly this is not a Manhattan supposition.
Gaongaon, what are you smoking?
i kind of get that post. kind of.
very sweet comments, thanks gg.
ali, I hope you didn't take my comment as against you.
I know you are one of the few on board who helps out with vast knowledge in RE...just thought gaongaon was high on something...that's all :D
B_Q -- There is actually a very simple answer to your question, assuming the seller is dealing with two REBNY firms. Per REBNY rules, the First Firm had the right to identify 6 buyers to seller within 3 days of the ending of the exclusive. If any of the 6 sign a contract within 90 days, the First Firm gets the sales fee and the Second Firm gets zero. More than 90 days, the First Firm gets zero. Anyone not on the 6-names-list ... the First Firm gets zero.
To Ali's point about "good relations" between firms dictating a different result: I doubt it. The one time I was involved in a situation like this, Good Relations were not relevant at all, just The Rules.
Why do you care? Would you prefer the First Firm get something? If so, you might retain them as your buyer agent.