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Lorei,  in New York, NY

I'm a new NYC agent. I responded to an open listing for a customer. I didn't know it was open. Would you advertise an open listing &?

Asked by Lorei, New York, NY Tue Feb 1, 2011

how about respond If you would advertise, where? If not why? Would you call an agent with an open listing?

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Hi Lorei. I checked your profile and your listing which is Dutchess county! I'm unfamiliar with the brokerage you work for, Goldstar Properties. I don't see Goldstar on the REBNY roster for residential or commercial property. Are you saying you are now with a Manhattan brokerage? If so, which one?

As others have stated, if you have no listings and the brokerage allows it, you may want to but why bother with an open listing at all? Why commit to a listing where the owner has not committed to you? As someone else stated, get training from your brokerage to obtain your own exclusive listings. That's where it's at. The brokerage community will be calling to show it to their buyers and that's the best position to be in. Good luck.
0 votes Thank Flag Link Wed Feb 2, 2011
Hello Lorei
It is a waste of time and money from my point of view. Ask your management to train and help you in obtaining your own exclusives which you shell advertise to get them sold. This will put you on a truck to your success.
0 votes Thank Flag Link Wed Feb 2, 2011
Lorei,
As mentioned below, each firm has their own policy about open listings. If it is allowed by your company, you can do it if the seller wants you to. Make sure you have a commission agreement in place as well, as you will be entitled to a buyer side commission if you sell it. Bear in mind though that if you are putting it up as an open listing, several other agents may too and it will look odd that a few of you are advertising the same property. It will also feed into OLR and RealPlus, and you will get a lot of other agents calling you and you will have to explain that you cannot co-broker it, which will not be received well.
0 votes Thank Flag Link Tue Feb 1, 2011
If you don't have any other listings, and your company allows it, then absolutely! But understand a few things: First you should ask the seller if it's OK. Often sellers are advertising it themselves and they (and you) don't want to compete against each other. Also, you will probably get calls from other agents wanting to know if it's your exclusive listing. Tell them no. And since it's a non-exclusive (open) listing, understand that other brokers are probably advertising it as well and you run the risk of someone else selling it, or buyers who go behind your back to try and deal with the owner directly.
0 votes Thank Flag Link Tue Feb 1, 2011
Lots of agents and brokers in NY advertise Open Listing if Management allow them to do it. But your company
should have a data base with open listing and exclusives as well so you don't have to call agents and brokers who advertise open listings ( they will not co-broke and must likely will not be cooperative with information).
In short I agree with Anna.
0 votes Thank Flag Link Tue Feb 1, 2011
This question should really be asked to your broker owner and or office manager, either party can best advise....
0 votes Thank Flag Link Tue Feb 1, 2011
Helllo Lorei; Open listings can be tricky. if you are a new agent, you should speak with your broker to see how they handle them within the company. My company does not allow us to advertise open listings, but we can bring customers. Each company/broker may have their own policy on how to handle this situation and it can be very tricky getting paid. Make sure you understand who's paying you and what to expect before sharing any offers from your buyers. Good luck!
0 votes Thank Flag Link Tue Feb 1, 2011
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