I don't think you need buyer's representation if you choose to move forward without identifying yourself as a broker. Real Estate agents are trained to have integrity and honesty to all involved in the transaction. My firm does dual agency all the time. If you feel good about the relationship you have with the listing agent, then I think you can proceed with few complications. Good luck.
I would say that your plan would work in your favor, however...The real question is are you a good real estate agent, capable of representing your own best interests? Are you informed on the market, and (I do not know if you are a real estate attorney) are you familiar with board packages and closing costs, are you educated and prepared to have yourself as a client.
Sometimes trying to avoid the fee is a loosing battle when you enter the fray un armed.
You can work with the seller's agent without dual agency. The seller's agent represents the seller. The agent has a fiduciary to the seller. The seller's agent does not represent your interests but in dealing with you, the buyer, a seller's agent should exercice reasonable skill and care in performance of the agent's duties, deal honestly, fairly and in good faith, disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law. As long as you understand the relationship.
Representing yourself as an attorney and representing yourself as a broker are two very different and separate issues.
This is a very interesting question. No, it is not common at all for an attorney who is buying a co-op to take a split of the broker's commission. I have represented lawyers as their listing agent and as their buyer's agent and at no point did they assume there was anything I was sharing with them other than really excellent work and the best service possible. I earned every penny of what I got; this is my livelihood. Is it yours?
Very technically, under the law, attorneys can function in the capacity of a broker, but in reality, are you a skilled, seasoned real estate agent? Of course not or you wouldn't be asking this question.
Real estate agents are skilled professionals, and depriving yourself of representation does you a real disservice. Your best bet would be to get your own agent to represent you.
The listing agent must present all offers; that is a separate issue than commission. The listing agent's brokerage would probably have to make the judgment call on whether they can/will give you anything. But if you are not represented, that listing agent is going to have to do all the work of a direct deal, i.e. your board package and getting you through the board, something only an experienced NYC agent can do for you. Since they would be doing double the work, do you really think you are doing anything that would warrant you being compensated as if you were the procuring broker?
Listing brokers solicit the cooperation of other brokers when marketing a coop. They have a previous agreement with some brokers, not all brokers and certainly not with lawyers to pay the co-broker a commission.
It would be up to the seller to accept or reject your offer. It will be up to the coop board to accept or reject your application as a shareholder in their coop. In my opinion it will create problems for the sale.
The comission is not always split in half between the listing (seller's broker) and buyers broker (you will need to find out what the split is). I have seen attorneys represent themselves at closings but they are registered with the DOS as a real estate broker in order to collect the commission (you need to verify).
I would recommend that you contact the NYS DOS before you proceed.
Best of luck on your purchase.
When I buy property for myself the way I handle this is: rather than charging a commission I take it as a discount from the sales price, or as a credit at closing.
Keep in mind that if you get paid a commission on your own deal you'll need to pay income taxes on those dollars.
I've done this with new construction, where there's no board package involved.
Bear in mind that if you do choose to ask for a discount or credit at closing you'll need to prepare your own board package, something that your broker would typically help with.
Co-op board packages are generally extensive and a pain to prepare. It would not be fair to place the burden of the board package on the selling broker if he/she is only getting half of the fee (for representing the seller).
Just another idea to consider...