The Market

Looking at new developments? Don't forget your broker

By A. Ready  | November 18, 2010 - 9:29AM

Earlier this week BrickUnderground's experts explained that a buyer is entitled to bring a buyer's broker into the scene at any time during the transaction. Real estate broker-blogger Malcolm Carter asked the Real Estate Board of New York's in-house counsel Neil Garfinkel for the legal basis of the convention, who explained the common-law right: "The theory is that anyone should be able to be represented at any time.  A buyer always has the right to be represented." Except not always. Surprisingly, Carter notes that new developments almost always require that the buyer's broker "must accompany the client by the second visit or be out of luck." Something to keep in mind if you are actively looking at new developments without a broker.  (Malcolm Carter; previously)



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