REBNY`s WOHN board members are considering a proposed amendment to the universal co-brokerage agreement that would require agents to refuse a listing if the seller wishes to market the property privately, sources said. Under the current agreement, agents should share offers with other REBNY members as soon as they post the property or list them on a public website, unless a seller specifically requests something else. more and more happens… due to the nature of the market (currently seller-oriented)… z.B. if 10 offers are on the table, sellers can often form what you want as a reason not to play. If you are not the best current offer with a significant margin, the seller can/will find ways to better adapt to his customers and/or your buyer. BHS in Brooklyn and some Corc. „No non-Renby“ … it`s BS patent as a valid reason why they don`t/can`t be broken…. There is nothing in the language of the REBNY boat that says that renby members cannot break with non-Rebny….
The relevant language is that if you are REBNY, then selling REBNY must be co-broke with you. Keith brings all the obvious reasons for common sense, why not be a ruck offs, which are not… but again, the nature of the market makes it easy for the selling parties to do what they want…. rebny.com/content/rebny/en/newsroom/in-the-news/2013/NYS-AG-Illegal_anticompetitive_hurt_real_estate_industry_consumer.html There are two separate issues: IS THAT REBNY TO A co-broker with non-members, and is it legal to refuse? Other important clauses in the agreement provide that all disputes between developers and brokers, with the exception of one on the commission, will be resolved in the New York judicial system, unlike REBNY Schieds. Before that, each developer and his legal team prepared a custom agreement with different definitions and conditions, and then transferred it to brokers. If they signed, its brokers could bring buyers into the property; If not, they were not allowed to do business in the building. This has disproportionately affected smaller brokers who may not have obtained the agreements. The question is, why wouldn`t an agent want to go bankrupt? It serves the well-being of the seller and buyer.
A simple Co-Broke agreement protects all parties, we have signed many (although not all brokers ask us). We have received a lot of praise from many ad agents and we have worked with very good real estate professionals! As you can see from my list of transactions, we have business with someone whose Who of the NYC real estate agent and always strives to work in an honest, fair and professional manner. We are licensed real estate agents, our team has a Harvard man, PHd and accountant, and we all strive to serve the highest and best interests of our clients. For companies that do not subscribe to RLS, a subscriber company (i.e., a rebny member or a rare company that has subscribed to RLS without subscribing to REBNY) is not bound by the specific terms of the RLS Universal Co-Brokerage Agreement (see www.rebny.com/content/dam/rebny/Documents/PDF/Resources/Forms/Universal%20Co-Brokerage%20Agreement.pdf). This makes it difficult for a non-member company to use the internal levers of the industry to force a member to co-break. REBNY members and affiliated companies are subject to a strict code of ethics. The code clarifies the responsibility of licensees to their colleagues and the public. By complying with the universal co-brokerage code and agreement, REBNY provides fair treatment to all licensed participants in a transaction and protects the interests of buyers and sellers.
It is a sad state and, frankly, a reflection of the outdated divisions that these brokerages give to their agents who incite them (in the face of serious violations of ethics and the law) to their agents not to break through their agents … also consider how the snub sales pages people with the total buyer broker (rebny or not)… It is ambiguous and, from an owner`s point of view, it is absolutely unacceptable.