When going through the process of interviewing a Real Estate Broker, it is vital to ask a Real Estate Agent/Broker many the following questions:
You should ask the Real Estate Agent/Broker to explain (or provide in writing) in detail the marketing plan for the listed Apartment/Unit.
Upon hiring a Real Estate Broker a Cooperative Seller will be asked to sign a brokerage/listing Contract. There are many types and forms of relationships that may be created when retaining a real estate broker. It is important to fully understand the rights and obligations of between the respective parties to a brokerage agreement. Unfortunately, due to either improperly drafted brokerage agreements in which the parties did not fully understand the respective of rights there is much litigation that surrounds of this subject matter. The fact is, that if a properly drafted brokerage commission is formed where both parties fully understand all of their obligations and what is required of them, litigation should always be avoided. Hence, it is mandatory to have experienced legal counsel represent you in the negotiation of a properly drafted brokerage – listing agreement.
A brokerage – listing agreement will have, among many other things, the following components: