Co-Broking

Does the agency selling your property agree to co-broke?  If so, at what percentage is the commission split?  If you don’t know the answers to these questions, did your listing agent even explain the concept of co-broking and its benefits?  Co-broking is a very important part of listing your property as it determines how many potential buyers will get to look at it.  If your listing agency agrees to co-broke, it means that other agencies have the opportunity to sell your property, greatly increasing the number of those potential buyers.  If your listing agency does not co-broke, then you are limited ONLY to the clients that contact that agency directly.  In addition to knowing whether or not your agent will co-broke, you should also note how they split commissions with other agencies.  The ideal scenario is always a 50% split, where your agency gets half of the commission for listing and the other agency receives the other half for selling the property.  If your agency splits in any other way, it will greatly reduce the number of outside agents willing to show your home.  Consider this: a buyer’s agent has the choice to show one of two properties.  Property “A” is listed with an agency that gives 50% of the commission; property “B” is your property listed with an agent that only offers 30%, 35% or 40%.  The buyer’s agent will choose property “A” every time, while your property just continues to sit overlooked.  Most buyer’s agents won’t even look at the listings of an agency that offers less than 50%.  If you don’t know how your listing agent will co-broke, just ask – it could certainly determine the exposure that your home gets on the market.  J Ray Realty is always happy to co-broke… remember, J Ray Realty is NOT here just to list your property, J Ray Realty is here to sell your property.