Brokerage firms not rushing to eliminate titles

A new opinion letter from the New York Department of State about the misuse of corporate titles by real estate agents has drawn a muted response from the city’s brokerages.

Peters

The one-and-half-page letter said the use of titles such as “vice president” was dishonest and misleading, amounting to prohibited false advertising unless the holders of real estate licenses actually were corporate officers.

“We’ll wait and see what unfolds,” Continue reading

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The High Road: The broker/board member

(Flickr photo by amrita b)

Many real estate brokers also become members of the boards of buildings in which they live.

One lofty reason is their commitment to making a contribution to their community.  Another is to protect their investment.

A baser desire is to raise their profile and, in so doing, snare business in the building.

But is it permissible for a building’s board member to represent a unit’s seller or buyer as agent?  Many brokers will tell you that the question is a thorny one. Continue reading

Let us all praise honorable brokers

A casual buyer to whom I’ve sent listings and shown apartments occasionally over the last year or two called me last week to say that he’s found the one he wants to purchase. It is in Fort Green, Brooklyn, and I have yet to see the studio.

But he wanted me to represent him. Terrific, except that he already had visited the condo in a new development called 96 Rockwell Place.  Twice.

Worse, he has had substantive conversations with the sales associates there and even told them he wanted to make an offer.

In such a circumstance, Continue reading