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use of a broker

Started by cb81
over 17 years ago
Posts: 39
Member since: Mar 2008
Discussion about
i looked at a new development with a buyer's broker some time back... like many others, i bailed when the bear stearns debacle went down. i was pretty far along the contract process, and was a hair away from signing/putting down the deposit at the time i pulled out. the broker was minimally helpful as i already knew the area, and the building quite well. question is.. if im looking at the same development, do i need to go thru the same broker given that she represented me the first time around, and technically "introduced" me to the development? we are talking about a span of about 10 months.
Response by Squid
over 17 years ago
Posts: 1399
Member since: Sep 2008

No.

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Response by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008

You are under no obligation, but the Sales Office may "protect" your broker as a mattter of policy if you are linked to the broker in their database. Call it honor among thieves.

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Response by front_porch
over 17 years ago
Posts: 5325
Member since: Mar 2008

It depends on whether you're trying to go brokerless, or you're trying to switch brokers. if you're trying to switch, enough time has probably passed and all you probably need to do is write a letter saying that broker Y now represents you.

If you're trying to go brokerless (which I wouldn't recommend with a new development, because I think they usually pocket the money that they have budgeted for sales commissions rather than giving it back to the buyer), take a look at the original agreement that you signed when you walked in and see what timeframe is attached to it.

ali r.
{downtown broker}

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Response by Squid
over 17 years ago
Posts: 1399
Member since: Sep 2008

Ali--aren't those exclusive agreements generally 6-9 months? I'd think 10 months would be outside any previous agreement...

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