Is dual agent legal in NY?
“BE WARY OF DUAL AGENCY,” the New York Department of State's Office of the General Counsel trumpets in bold on its website. Make no mistake, though — the practice is entirely legal in New York. It occurs when brokers employed by the same firm represent the buyer and the seller.
What does co-brokerage mean?
In co-brokering, one broker works with the buyer and a different broker works with the seller and the brokers split the commission of the sale.
Does New York allow dual agency in real estate?
Dual agency is legal in New York State (but not all states) so-long as conditions for written disclosure are met. New York requires all real estate agents and brokers to specifically disclose their relationship to the transaction, buyer or seller or both.
What is co listing agreement?
A: A co-listing agreement involves two real-estate brokerages both working to sell your property. The two brokerages would divide an agreed-upon commission between themselves.