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View Full Version : Finding a buying agent in Brooklyn



sundanceuiuc
May 24th, 2007, 09:16 PM
We're having a hard time finding a buying agent broker in Brooklyn. Our price range is low, but we still need service.


Are there any recommendations on how to find one that we'll like?


Also who pays the buying agent? My understanding is that the buying agent splits commission with the selling agent. Is this correct?


If we get an exclusive buying agent do we need to pay them cash or is it still a commision split with the selling agent?


Thanks, any input would be helpful!

Front_Porch
May 25th, 2007, 11:58 AM
Brooklyn is a little bit more of the Wild West than Manhattan. Buyer's agents are usually paid by "co-broke" -- that is, the buyer's agent and seller's agent split the commission paid by the seller. Yet many agents refuse to co-broke popular neighborhoods such as Park Slope and Prospect Lefferts Gardens.

I just tried to place a renter in Brooklyn, and was told "no go" by three firms -- including two of New York's biggest, which is a violation of the rules of our trade association. The sales pie is bigger, but there's still not as much cooperation as one would hope.

As a result, buyers' agents -- which in Manhattan are wonderful fountains of information and service (hi!) -- are somewhat ineffective. If the listing firm doesn't let them into the property and they can't get paid, what good can they do you?

Is it theoretically possible you could pay a buyer's agent a flat fee yourself, but I don't know how to find a good one for budget Brooklyn neighborhoods.

Before you try that, my advice is to try and pick a neighborhood -- which I know is tough when you are just starting out and have a lot of questions -- and to approach an agent who has listings in that neighborhood, and see if you get along.

If you're looking in Brooklyn Heights, I can't say enough nice things about Linda Vanderwoude of Halstead.

You might also find brownstoner.com, which is a blog/community about certain neighborhoods in Brooklyn, to be a helpful resource.

In addition, the editor of the real estate section at the New York Post (my old paper) also lives in Brooklyn so the Post coverage is good there.

If you have general first-timer questions, my website www.frontporchllc.com (http://www.frontporchllc.com) is searchable -- kind of like a Wiki -- and may be of use.

ali r.
{downtown broker}