About to Sign with Broker
I inherited an apt and need to sell it asap. I am about to sign a contract with a corcoran agent and am wondering if there is anything I should know before I sign. I am not looking to be disuaded from using a broker, or from using corcoran – I understand that I could…
I inherited an apt and need to sell it asap. I am about to sign a contract with a corcoran agent and am wondering if there is anything I should know before I sign. I am not looking to be disuaded from using a broker, or from using corcoran – I understand that I could sell it myself if I had the time, and that lots of people hate corcoran. I just want to know if there is anything anyone wishes they knew before they signed a contract with a broker. Thank you!!
I had a very good experience with Angela Ferrante at BHS.
Contact Bobby Fagan from Tanner Fagan Real Estate. 718-680-6888.
I don’t know if this is possible but it would be great to tag the commission % to a scale. If x amount then 6%, 5%, etc. This way their is incentive to get the most money throughout the sales process, and should the price drop your not the only one taking a hit.
All good advice. Suggest give exclusive but with time limit. “3 months and then we’ll evaluate how things are going” sounds ’bout right. Puts gentle pressure on for broker to hussle.
other general note is that broker (whomever it is) profits most from quick sale. You want a good price so listen to their estimates but do own research on comps and if you feel higher (asking) price is merited, push back. Obviously these days need to be respective of less than stellar market but still.
General issue to raise w/broker, is there anything you can do to apt quickly and cheaply to help situation?
There’s a clause in the contract about what percentage of the buyer’s deposit the agency can keep should the buyer pull out. That is negotiable and you should request they lower it. (I was told by my lawyer they often set it higher than average with the expectation the seller won’t care).
It’s the kind of thing you probably don’t care much about at the outset, but if it happens, you should make sure you get all you can.
Find out who usually sells in the building. Interview three agents if you can.
If you sign an exclusive contract, limit the time frame as much as possible especially if you have to sell quickly. If they ask you to sign for 6 months exclusive, say you can only do 3 months. They’ll be motivated to sell more quickly. On the flip side, that means they’ll bring you any lowball offer they get and try to pressure you to take it, but you can just reject any offer you don’t want.
agreed! make sure you have negotiated the commission with this agent. I think corcoran does a good job of marketing and making sure the property is visible on the internet.
What are they charging for commission? My newbie advice would be to shop around for commission rates.