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Home Buying in Elizaville : Real Estate Advice

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Sat Jul 1, 2017
Jack Ramone answered:
Sy, a buyer's broker represents the buyer exclusively. A seller's broker is equivalent to a listing broker and they represent the seller exclusively. The article referenced below (https://www.hauseit.com/ny-disclosure-form/) goes in depth into the various types of agency relationships.

You should be very careful as a buyer in working with the seller's broker directly. If you do so, they need to disclose the nature of their relationship to you. In the case of dual agency (https://www.hauseit.com/dual-agency-nyc/), you have to understand that the seller's broker is essentially collecting double commission for representing both buyer and seller.

How this is possible I'm not too sure. The broker would have to be extremely neutral and basically not say anything in order to do that.

So why would you get bullied into dual agency just so the listing broker can collect all 6% commission?

It's your right to have your own representation, and it's free!

Lastly, not only is it free, but through companies like Hauseit you can also get some of your buyer's broker's commission back at closing through what's known as a commission rebate: https://www.hauseit.com/nyc-broker-commission-rebate/

Good luck and pls read the article below to fully understand the various agency relationships before proceeding!
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Mon Jul 11, 2016
Andrey Sokurec answered:
Yes this is a common mistake that most of people do while talking about the real estate industry.

Here is a simple answer:

Real estate agent: Also known as real estate associate, a real estate agent is a professional who has passed all the required exams along with the state level real estate licensing exam. He/she must be working under a broker.

Real estate broker: A broker comes on the higher level as compared to that of an agent in the real estate professionals’ hierarchy. He has completed the advanced education and has gone through additional training, which let him get the detailed knowledge of the real estate law.

Realtor: He/She needs to get the membership of National Association of Realtors (NAR) or Canadian Real Estate Association (CREA) and needs to maintain the standard and subscribe to the code of ethics for becoming a member of NAR or CREA. Every realtor is a agent, but every agent is not a realtor.
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Mon Apr 15, 2013
Tom Lynch answered:
Janine,

Property was withdrawn from the market this past October. 40 acre lake.

GORGEOUS property.

Please contact me if you have interest in purchasing this property, or properties similar.

All the best,

Tom Lynch
Associate Broker, Massachusetts, New York, and Connecticut
Berkshire Property Agents
12 Railroad Street
Great Barrington, Massachusetts 01230
http://www.berkshirepropertyagents.com/
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