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bethsiar
LIF Adult
Member since 9/05 1390 total posts
Name:
Beth
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Who would you choose?
We are officially listing our co-op apartment on Monday, but my husband and I can't agree on which realtor!
Mine: A family friend's cousin who is a Remax agent in Long Island. He is trust worthy, I know he will work in OUR best interest and is willing to cut us a deal and take 4% commission and let us decide the length of contract (all realors in Great Neck take 5% or more). We both feel comfortable with him, have been talking to him for 4 months and he is very patient. BUT and this is a big BUT, he hasnt really had experience with Great Neck co-ops (ours is the 2nd worst board in GN and is even currently being sued for discrimination).
My DH choice- this woman who works at Coldwell Banker right near our apt. She has been selling Great Neck co-ops for 27 years, she even lives in one. She is willing to take 5% commission and a 6 month contract. She knows the management company for our building and what our co-op board is looking for, what applicants need to get in, what materials they will require and is familiar with all the games they play. We feel though, that she will def. work in HER best interest and try to lower the price of our co-op so that she can get a buyer to see the board before her contract is up. Im not a very assertive person and I could easily see me hating her while she pushes me around. ( I know that's pathetic)
Sorry for the long post, but Im absolutely torn!
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Posted 3/23/06 9:40 AM  |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Who would you choose?
In my experience, the real estate agent you mentioned as #2 would not try to sell your co-op for a lower price, just to sell it...the more she gets for it, the more her commission, so it's in everyone's best interest (you-the seller, her-the agent) to get the highest price for it. I would go with someone who knows the co-op game....co-ops are different than selling a house because you have to deal with the board. JMO.
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| Posted 3/23/06 9:43 AM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Who would you choose?
I am thinking going with the agent experienced and knowlegable in getting buyers approved in your co-op would be the better way to go. Regardless of the contract, it's still in her best interest to get a higher price since her commission is based on it.
Good luck.
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| Posted 3/23/06 9:44 AM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: Who would you choose?
one thing to keep in mind with a commission...if your best offer is less than what you are willing to sell for, the real estate agent may be willing to lower the commission so that your "take" is where you wanted it to be...
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| Posted 3/23/06 9:49 AM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Who would you choose?
my first reaction would be to go with your friend. BUT - how comfortable or uncomfortable would he be to handle the co-op board is the question? would HE be assertive and not let them push him around? there's a learning curve with everything, so i would more than likely give him the opportunity, not to mention that he'd be REALLY working in your best interest.
HOWEVER, if you're concerned that his inexperience will stall the sale, then going with Coldwell Banker would be your best bet. Any chance you can get CB agent to come down to 4%, or even 4.5%?
Message edited 3/23/2006 10:15:03 AM.
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| Posted 3/23/06 9:51 AM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Who would you choose?
Posted by MrsERod
my first reaction would be to go with your friend. BUT - how comfortable or uncomfortable would he be to handle the co-op board is the question? would HE be assertive and not let them push him around? there's a learning curve with everything, so i would more than likely give him the opportunity, not to mention that he'd be REALLY working in your best interest.
HOWEVER, if you're concerned that his inexperience will stall the sale, then going with the Coldwell Banker would be your best bet. Any chance you can get CB agent to come down to 4%, or even 4.5%?
True...when I was selling my condo...I worked out a sliding sale with the agent. Basically if he sold it between a and b he would get 4%, between c and d he would get 5%, between e and f he would get the full 6%. And....if he would get above and beyone anything I thought feasible...he would even get 7%. In the end...he got his 5%.
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| Posted 3/23/06 9:54 AM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Who would you choose?
I would personally go with someone I can trust...is there someone in his office who can help/oversee the co-op situations that may occur?
I'm sure you will be in good hands either way!
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| Posted 3/23/06 9:55 AM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Who would you choose?
For me it would depend on how fast you were looking to sell your house. I'm not a big fan of mixing family & business.
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| Posted 3/23/06 10:03 AM |
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JennChris
life moves fast
Member since 5/05 4225 total posts
Name:
Jenn
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Re: Who would you choose?
Posted by nrthshgrl
For me it would depend on how fast you were looking to sell your house. I'm not a big fan of mixing family & business.
I agree sometimes it's not a good idea to mix family/friends and business... my DH has the problem with his business 
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| Posted 3/23/06 10:04 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Who would you choose?
Posted by nrthshgrl
For me it would depend on how fast you were looking to sell your house. I'm not a big fan of mixing family & business.
Ditto, sometimes it gets messy and uncomfortable. But, you have been talking to him about it for a while, does he assume he will be selling it for you?
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| Posted 3/23/06 10:05 AM |
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bethsiar
LIF Adult
Member since 9/05 1390 total posts
Name:
Beth
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Re: Who would you choose?
Posted by dpli
Posted by nrthshgrl
For me it would depend on how fast you were looking to sell your house. I'm not a big fan of mixing family & business.
Ditto, sometimes it gets messy and uncomfortable. But, you have been talking to him about it for a while, does he assume he will be selling it for you?
Yeah he does, until we met with this real estate agent last night, we had disliked all Great Neck agents and have actually made an appt to sign with him on Monday. So I have to decide today if I'm going to cancel with him for Monday. Do you think I owe it to him now?
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| Posted 3/23/06 10:09 AM |
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bethsiar
LIF Adult
Member since 9/05 1390 total posts
Name:
Beth
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Re: Who would you choose?
Posted by luvsun27
Posted by MrsERod
my first reaction would be to go with your friend. BUT - how comfortable or uncomfortable would he be to handle the co-op board is the question? would HE be assertive and not let them push him around? there's a learning curve with everything, so i would more than likely give him the opportunity, not to mention that he'd be REALLY working in your best interest.
HOWEVER, if you're concerned that his inexperience will stall the sale, then going with the Coldwell Banker would be your best bet. Any chance you can get CB agent to come down to 4%, or even 4.5%?
True...when I was selling my condo...I worked out a sliding sale with the agent. Basically if he sold it between a and b he would get 4%, between c and d he would get 5%, between e and f he would get the full 6%. And....if he would get above and beyone anything I thought feasible...he would even get 7%. In the end...he got his 5%.
WOW thats REALLY interesting!!! I like that idea a lot. Did they have to make up a whole new contract for you or did you write it into their standard one? Hmmm this is def. something to think about.
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| Posted 3/23/06 10:11 AM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Who would you choose?
Posted by bethsiar
Yeah he does, until we met with this real estate agent last night, we had disliked all Great Neck agents and have actually made an appt to sign with him on Monday. So I have to decide today if I'm going to cancel with him for Monday. Do you think I owe it to him now?
as uncomfortable as it will be, nip it in the bud sooner, rather than later.
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| Posted 3/23/06 10:12 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Who would you choose?
Posted by bethsiar
Yeah he does, until we met with this real estate agent last night, we had disliked all Great Neck agents and have actually made an appt to sign with him on Monday. So I have to decide today if I'm going to cancel with him for Monday. Do you think I owe it to him now?
Could you give him a time frame in which to sell it? Like if it doesn't sell in xx number of months, you might get someone more experienced with the co-op board? He may understand that there are politics involved and appreciate the opportunity to try to sell it.
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| Posted 3/23/06 10:12 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Who would you choose?
Posted by MrsERod
Posted by bethsiar
Yeah he does, until we met with this real estate agent last night, we had disliked all Great Neck agents and have actually made an appt to sign with him on Monday. So I have to decide today if I'm going to cancel with him for Monday. Do you think I owe it to him now?
as uncomfortable as it will be, nip it in the bud sooner, rather than later.
Christina is probably right......
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| Posted 3/23/06 10:13 AM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Who would you choose?
You could get out of it using the condo board as an excuse. I know you'd rather see him get the money than a broker you don't really like. I'd hate for you to get tangled up, loosing potential buyers because he's learning the ropes on coop boards.
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| Posted 3/23/06 10:37 AM |
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robynfs
12/6/10!!
Member since 9/05 4947 total posts
Name:
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Re: Who would you choose?
I would use #2. I think knowing the area and the board and having experience with those two are key. I actually bought a co-op in Great Neck and the agent who knew the area and the boards was our favorite and most successful!
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| Posted 3/23/06 10:39 AM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Who would you choose?
Posted by nrthshgrl
You could get out of it using the condo board as an excuse. I know you'd rather see him get the money than a broker you don't really like. I'd hate for you to get tangled up, loosing potential buyers because he's learning the ropes on coop boards.
good idea....
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| Posted 3/23/06 10:41 AM |
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bethsiar
LIF Adult
Member since 9/05 1390 total posts
Name:
Beth
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Re: Who would you choose?
Posted by MrsERod
Posted by nrthshgrl
You could get out of it using the condo board as an excuse. I know you'd rather see him get the money than a broker you don't really like. I'd hate for you to get tangled up, loosing potential buyers because he's learning the ropes on coop boards.
good idea....
You both are reading my mind! I guess I know the answer,I just dont WANT it to be the answer.
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| Posted 3/23/06 10:45 AM |
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bethsiar
LIF Adult
Member since 9/05 1390 total posts
Name:
Beth
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Re: Who would you choose?
Posted by robynfs
I would use #2. I think knowing the area and the board and having experience with those two are key. I actually bought a co-op in Great Neck and the agent who knew the area and the boards was our favorite and most successful!
Who did you use?
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| Posted 3/23/06 10:48 AM |
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robynfs
12/6/10!!
Member since 9/05 4947 total posts
Name:
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Re: Who would you choose?
Her name was Alison, have to look up her last name. But she was with Prudential Douglas Eliman office right on Bond st.
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| Posted 3/23/06 10:50 AM |
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robynfs
12/6/10!!
Member since 9/05 4947 total posts
Name:
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Re: Who would you choose?
Allison Platt
http://www.prudentialelliman.com/MainSite/Agents/Agent.aspx?BID=26467
She is fantastic!
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| Posted 3/23/06 10:53 AM |
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bethsiar
LIF Adult
Member since 9/05 1390 total posts
Name:
Beth
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Re: Who would you choose?
Posted by robynfs
Her name was Alison, have to look up her last name. But she was with Prudential Douglas Eliman office right on Bond st.
LOL that is SO funny b/c she was in the office when we met this other real estate agent and my DH said to me after " I really liked that Allison chick, I wish we could use her but now it would be weird"
hmmmm now I'm wondering if since we're the customer, we should just meet with her even though we met with the agent who sits right next to her.
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| Posted 3/23/06 10:53 AM |
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robynfs
12/6/10!!
Member since 9/05 4947 total posts
Name:
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Re: Who would you choose?
Im telling you, she was really great to work with. Great with both sides too...seller/buyer.
If I had to buy/sell again I would go straight to her!!
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| Posted 3/23/06 10:55 AM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Who would you choose?
Posted by bethsiar
Posted by luvsun27
Posted by MrsERod
my first reaction would be to go with your friend. BUT - how comfortable or uncomfortable would he be to handle the co-op board is the question? would HE be assertive and not let them push him around? there's a learning curve with everything, so i would more than likely give him the opportunity, not to mention that he'd be REALLY working in your best interest.
HOWEVER, if you're concerned that his inexperience will stall the sale, then going with the Coldwell Banker would be your best bet. Any chance you can get CB agent to come down to 4%, or even 4.5%?
True...when I was selling my condo...I worked out a sliding sale with the agent. Basically if he sold it between a and b he would get 4%, between c and d he would get 5%, between e and f he would get the full 6%. And....if he would get above and beyone anything I thought feasible...he would even get 7%. In the end...he got his 5%.
WOW thats REALLY interesting!!! I like that idea a lot. Did they have to make up a whole new contract for you or did you write it into their standard one? Hmmm this is def. something to think about.
I live in NJ, so I don't know if the contracts are a little different or anything, but when we signed the contract with the listing agent, we wrote it on there. The reason we did this was because originally I was going to try to sell FSBO or use Foxton's...and since we used this guy to buy our new house, he wanted to get it done quicker. But...I didn't want to fork over the standard 6% commission. My condo was listed for 2 days...and we got 3 offers all above the asking price.
ETA: We listed it on Friday, and had an open house on that Sunday...needless to say, he didn't have to work too hard 
Message edited 3/23/2006 10:57:40 AM.
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| Posted 3/23/06 10:56 AM |
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