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Old 06-16-2007, 05:49 PM
 
Location: Eastern NY
136 posts, read 747,788 times
Reputation: 57

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I'm thinking about buying a 2nd home in the Catskills area of New York state. I'm a newbie to the current real-estate scene, since I last bought more than 20 years ago. As far as I can tell, there are no exclusive buyer's agents in the area of interest (there are some on the fringes, though). I've read that 49.5 states encourage buyer's agency, whereas Southeast NY from NYC to the Catskills (the other 0.5 state, I guess) does not.

If I contact an agent from a "plain" brokerage, and look at places not listed by that brokerage, will the agent usually become a sub-agent of the listing brokerage, or will they more likely be a buyer's agent, or something else?

If I look at a place listed by the same brokerage (but a different agent), will "my" agent typically become a dual agent, or will they more likely be an agent (or subagent) of the seller, or is designated agency now more common around here?
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Old 06-16-2007, 07:02 PM
 
Location: Somerset, NJ
505 posts, read 2,251,374 times
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If you are looking in Orange, Sullivan, Ulster, or Rockland Counties---and you are being shown a listing from another firm normally your agent will be a Buyers Agent.

If you are seeing one of the firms listings, The BROKER will be in a dual agency situation, and your agent will be a designated agent (with the proper disclosure forms signed).

If your agent is showing you one of his/her own listing, they are then in a dual agency situation.

What area are you looking in that they are saying they don't work as Buyers Agents? It's something that most of NY has gone towards, but i've heard there are areas north of ulster/sullivan where they work as Sub-Agents, never seen it though.
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Old 06-16-2007, 07:50 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 35,912,496 times
Reputation: 2661
I think Joey she is after an EBA as in NAEBA. That is brokers that take no listings. They do exist...see homefinders.com in MD. Big successful brokerage that takes no listings.

I believe we have one or two in Las Vegas...tiny operations which do not appear to last. Most of the people who claim to be EBA here are speaking of their personal behaviour. They work for the regular full service brokers.

We also do not have the sub agent arrangement...I don't know if it still exists anywhere. There are however Transaction Brokers in a few markets. They charge the same fees but are accountable for nothing.
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Old 06-16-2007, 09:11 PM
 
Location: Eastern NY
136 posts, read 747,788 times
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Quote:
Originally Posted by joeymarine View Post
If you are looking in Orange, Sullivan, Ulster, or Rockland Counties---and you are being shown a listing from another firm normally your agent will be a Buyers Agent.

.
.
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What area are you looking in that they are saying they don't work as Buyers Agents? It's something that most of NY has gone towards, but i've heard there are areas north of ulster/sullivan where they work as Sub-Agents, never seen it though.
I'm mainly planning to look in eastern Delaware, western Greene, extreme western Ulster, or southwestern Schoharie counties, and possibly the very top of Sulllivan. Right now, just to home in on a particular area, I'm going to concentrate on eastern Delaware and perhaps adjacent western Greene Counties.

I tried asking for a NAEBA referral (using their website), but apparently there are no exclusive buyer's agents in the area. I've seen ads and websites for buyer's agents in Ulster, Dutchess, and Sullivan county, and perhaps one in Oneonta.

There are a few ABRs (located via the REBAC website), but many of them seem to be concentrated in one brokerage which also seems to have the best/largest selection of interesting listings in the area. There are also a couple of smaller brokerages out that way who mention buyer's representation on their websites.

The web sites for most brokerages in the area seem to concentrate on listings.
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Old 06-16-2007, 09:37 PM
 
Location: Eastern NY
136 posts, read 747,788 times
Reputation: 57
Quote:
Originally Posted by olecapt View Post
I think Joey she is after an EBA as in NAEBA. That is brokers that take no listings. ...
I tried to find an EBA in the area of interest, but apparently there are none.

Any type of buyer's agent will do. On other real estate forums, I've read that buyers often have a hard time getting the attention of real estate agents. Apparently, agents think we're spammers, or even criminals posing as buyers.
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Old 06-17-2007, 07:17 AM
 
Location: Palm Coast, Fl
2,249 posts, read 8,519,349 times
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Quote:
They charge the same fees but are accountable for nothing.
That's not true.
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Old 06-17-2007, 09:19 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 35,912,496 times
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Quote:
Originally Posted by palmcoasting View Post
That's not true.
With respect to agency...yes it is.

Some States forbid the use of "agent" by such operators.
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Old 06-17-2007, 10:52 PM
 
Location: Somerset, NJ
505 posts, read 2,251,374 times
Reputation: 135
Up in those areas that you are looking...I am pretty sure there are no specific EBA's, or at least none that I have heard of. Just something to think about up there....real estate is a little weird. The avg DOM (days on market) up in that area is around 365....no, that wasn't a typo....yes one year.

That's nothing to be scared of as a buyer though....it may mean more flexibility in the price!!!

A lot of brokerages in the area here have actually stopped offering sub-agency and broker-agency compensation because of the liability issues. Unfortunately I am a little too far south for you...I do a lot of business in Sullivan County though. I could do a search for you as we have companies that we refer clients to up there for relocations and can see if I can find a good buyer's agent for you.

Let me know if I can help out at all.

GOOD LUCK!!!
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Old 06-17-2007, 10:54 PM
 
Location: Somerset, NJ
505 posts, read 2,251,374 times
Reputation: 135
Quote:
Originally Posted by olecapt View Post
I think Joey she is after an EBA as in NAEBA. That is brokers that take no listings. They do exist...see homefinders.com in MD. Big successful brokerage that takes no listings.

I believe we have one or two in Las Vegas...tiny operations which do not appear to last. Most of the people who claim to be EBA here are speaking of their personal behaviour. They work for the regular full service brokers.

We also do not have the sub agent arrangement...I don't know if it still exists anywhere. There are however Transaction Brokers in a few markets. They charge the same fees but are accountable for nothing.
They do exist in NY....but they haven't really gotten to Upstate-upstate NY yet....they are just coming across the border from Jersey into Southern Orange and Rockland though.
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Old 06-18-2007, 06:10 AM
 
Location: Palm Coast, Fl
2,249 posts, read 8,519,349 times
Reputation: 1006
Well, as you so eloquently state so many times.... it's a local thing. And in Florida, transaction brokerage is alive and thriving. As a matter of fact, it will be assumed as of 2008 that all brokers are transaction brokers unless another agreement is signed. And we are accountable. I don't know of a state where a Realtor or agent isn't accountable for something....otherwise they would be able to do what ever they want. Here, dual agency is not acceptable and against the law. Other states, they allow it which really effectively makes them transaction brokers with limitations on what they are allowed to reveal if they learned of something before the transition. But in any agency you are accountable. Here the buyer/seller is also less accountable for the agents actions when using a transaction broker. If the customer uses an exclusive buyer/seller arrangement they are more liable for the actions of the agent.
Everyone is accountable for something.
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