Will Corcoran/Elliman broke only with REBNY members?
Started by Mel
about 18 years ago
Posts: 126
Member since: Jan 2008
Discussion about
Will Corcoran/Elliman broke only with REBNY members? That's what I was told by brokers in both Elliman and Corcoran. That they wouldn't co-broke with me as a buyer/licensed broker because I'm not a REBNY member. I'm sure the seller would be thrilled to hear that his broker is turning away qualified bidders. What gives?
That's total mularkey. They're taking you for a ride and screwing the client.
Agreed, they're liars.
I did the same thing (co-brokered as own (buying) broker--as atty./licensed re broker/not rebny member) about 9 months ago with a Corcoran broker on the other side. She never even mentioned such a thing.
Mel, curious how this works-out, are you gonna play hard-ball, call their bluff?
Oui, they caved and we are now finalizing the terms of the split.
Just so everyone knows--the deal is that REBNY brokers are not OBLIGATED to cobroke with anyone but REBNY brokers, not that they cannot or will not. It is of course idiotic for any broker to choose not to cobroke for this reason, but technically it is not a bluff. Non-REBNY brokers are not afforded the same guarantees and protection under REBNY guidelines. Glad it worked out for you, Mel--it usually does.I would cobroke with a caterpillar if the caterpillar was bringing my client a desirable buyer :)
qwerty, as an attorney, what further process do you have to go through to become a licensed RE broker?
Just fill-out a 2-page application with NY State and pay the filing fee. A week or two later you'll have your broker #:
http://www.dos.state.ny.us/lcns/licensing.html