The changes to New York law enacted by the 2019 Tenant Protection Act have a lot of people wondering whether they can get broker fees charged to them returned. The first step you might take is to speak directly with...
Category - Brokers and Agents
The 7 real estate broker licenses types in NYS and how to apply
When you look up a real estate broker’s license, next to their name you will see a “License Type” displayed. In New York State there are 7 different real estate broker license types. Below we have...
Rejected offer: what to do next
Rejection in real estate, unlike many other professions, usually comes down to one thing, money. If your offer for a home was rejected the owner wanted a higher price. Of course, there are exceptions but money tends to...
At what point does a real estate broker earn their commission?
According to New York’s Department of State website if a broker procures an eligible buyer they are entitled to a commission: “Although a broker is generally entitled to a commission when he produces a buyer...
Real Estate buyer’s agent fees
Technically the real estate buyer’s agent fees are free to the buyer because they are baked into the commission that the seller pays their agent. So, whether a buyer utilizes an agent in their home search or not...
Real Estate listing agent fees
A real estate listing agent’s fees are a percentage of their broker’s fee. This is usually around 60 percent of the broker’s total commission (the broker gets the remaining 40 percent). If there is no buyer’s agent the...
Real Estate offer letter explained
In a competitive market like New York City, a real estate offer letter can be an important tool in having you offer accepted. They need to include some vital information and should be vetted and written in conjunction...
Open Listings For Rentals: Everything you should know
What is a rental open listing? A rental open listing allows several agents to market an apartment, as opposed to having an exclusive agreement with just one agent. The result of an open listing arrangement is that one...
Real Estate exclusive listing agreement explained
A real estate exclusive listing agreement is a sales agreement in which a specified real estate agent is chosen to sell a property and will gain a commission if that property is sold within a certain time frame —...
Real estate deal sheet, explained
A real estate deal sheet is, as the name implies, a sheet outlining the agreed-upon terms of the transaction as well as the parties involved. The seller’s agent or broker typically prepares this document once an offer...
