What Is A Cooperative Brokerage Agreement

This is a proactive way to track the sale of a property. One broker offers an exclusive offer from the seller and the other brings in the client. The selling broker has his exclusive written agreement with the owner, who gives him permission and obliges him to distribute it to other New York brokers if he is a member of the Real Estate Board of New York (REBNY). After that, successful brokers share the commission. On the basis of this breakdown — fifty/fifty of a certain percentage of the selling price; six percent is the commission rate I see most often cited – a broker gets three percent that must be shared with the company the broker works for, also known as “the house.” This arrangement shows why it is good to maintain a high commission rate in order to get maximum attention from the broker community…