Rentals in Upper East Side>Question Details

JoAnne Rober…, Real Estate Pro in New York, NY

We have a real estate agent. How can we see an open listing without having her lose her commission?22

Asked by JoAnne Robertson, New York, NY Wed Jun 4, 2014

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11
Take her with you is one way. Have her show it to you is another. Why don't you simply speak to her about the property you're interested in and have her make the necessary arrangements.
1 vote Thank Flag Link Thu Jun 12, 2014
Agreed.
Flag Fri Jun 20, 2014
Hello Joanne,

How are you? I hope you're doing well.

If you're working exclusively with a real estate agent to show you properties all you have to do is let the sellers agent know. If for some reason you go to see a property without your agent, be sure to hand the sellers agent her business card when you 1st meet them. Disclosing that up front will avoid any issues. Ask the sellers agent to contact your agent for further communications and/or negotiations.

If you're talking about a listing here in NYC, we're accustomed to co-brokering a property with another real estate professional so that shouldn't be a problem.

I wish you all the best in your search for a new home :-)

Looking forward,

Christine Gordon
Licensed Real Estate Broker
Gorick Realty, Inc.
Cell: 917.881.2924
Fax: 347.328.9352
View listings at http://www.gorickrealty.com
"Home is where the heart is."
0 votes Thank Flag Link Sat Sep 27, 2014
you can have your offer submitted with compensation included for your agent.
0 votes Thank Flag Link Thu Jun 12, 2014
Make sure to let the Agent at the open house know you are working with a Realtor, if you are interested in the home have your Realtor contact the listing agent before you attend the open house.
0 votes Thank Flag Link Thu Jun 12, 2014
Let her set up the showing and show you. You need to let your agent do their job. They will know how to handle an open listing and if not, they dont deserve to be paid.
0 votes Thank Flag Link Thu Jun 12, 2014
Not sure I completely understand this based one the way you phrased your question. You are writing from Cumming, GA about a rental on the upper east side of Manhattan.

If you're looking at rentals on the upper east side of Manhattan then you probably signed a representation agreement to pay your agent a commission. An "open" listing can mean a lot of things. It could me the agent who has the open listing could show and rent the apartment, but has to collect the commission from the tenant. Not perfectly clear on your situation without all the details. Worst case scenario is you would have to pay a commission to both the agent with the open listing as well as your agent. Just for example only as all commissions are negotiable. Rent=$3,000 per month, $36,000 per year. 15% of annual rent as commission = $5,400. If you have to pay both agents in the worst case it could cost you $10,800 for this hypothetical apartment.

These things work very differently in different parts of the country. In most areas of the country the owner of the apartment pays the agents fee. In Manhattan the tenant pays their agents fee. The reason for this is because they can. Apartments in NYC are very competitive. Make sure your expectations are reasonable of you are going to be very disappointed.

Good luck!

Donald A Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
http://www.donmituzas.com
0 votes Thank Flag Link Thu Jun 12, 2014
Have your agent take you, negotiate, and see through to closing with the understanding that you will pay their fee.

Chris
0 votes Thank Flag Link Thu Jun 12, 2014
Have you considered asking your agent the question....
0 votes Thank Flag Link Mon Jun 9, 2014
Hi Joanne,

I would suggest letting the listing agent know you are already working with a Realtor when you tour through the open house. This also keeps the listing agent from trying to solicit your business. And I would also let your Realtor know the open homes you have seen so he/she is up to speed.

Best of luck to you and happy house hunting.

Thanks,
Jessica Aggson
(Recently featured on HGTV's show House Hunters)
Re/Max Parkside Real Estate
805-610-3536
JessicaAggson@gmail.com
0 votes Thank Flag Link Mon Jun 9, 2014
I'm not sure what you mean by an "open listing"?? A listing having an open house? Whatever the case, just make sure you let anyone involved know that you're working with an agent. If it's an open house, you can even take your agent with you to see the open house. Most importantly...thank you for your loyalty toward your Realtor...not many people are so concerned with doing the right thing, it's refreshing to see someone who is...
0 votes Thank Flag Link Mon Jun 9, 2014
Joanne,

As long as you have signed the appropriate paperwork from your agent, specifically saying that you have agreed to pay a commission and the locations at which the commission applies to, you shouldn't feel that your agent will not be getting their commission. Take note that often some open firms may contact you directly because they may feel that you'd sign for their apartment if you didn't have to pay a broker's fee. Other than that, your agent should be well protected!

Cheers,
Andrew Carr
0 votes Thank Flag Link Mon Jun 9, 2014
I should say I just talked to a very nice fellow who may turn me around entirely on the breed...but this weekend i wasted hours driving down to the city only to be shown 33 Gold. Needless to say the apt was not where it was said to be nor was it the one pictured in the ad. I should name and shame him and his firm but am holding on to that. It is true an agent will eventually find you a place, if you have the right agent. On the other hand, some of them won't even bother with you.
Flag Tue Jun 24, 2014
If your agent has provided no service why would you pay him or her? If they have done I'm pretty sure they will know how to get paid. If you are really in a quandary you could confess your dilemma to the agent but they would probably despise you for your naivete and exploit you accordingly. (As you can see, real estate agents in NYC are not perceived as saints.)
Flag Tue Jun 24, 2014
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