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Thanks for the tips you guys emailed after sign up. I had an appointment scheduled for this evening from a week ago, he had emailed me just before you asking about the realtor. I told him the truth as I hadn’t read your email yet. I hope that’s not a problem. I also wanted to know, what happens if we find a buyer, how does the closing process work with the brokerage?
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Good morning! It’s not a problem, but if they inquire again definitely feel free to loop our partner brokers in and clear it up and explain that they're your listing broker. There’s no need to reveal the details of your private listing agreement to other curious agents!
The closing process (https://www.hauseit.com/nyc-fsbo-clo...-home-sellers/) is quite straightforward from your perspective once you’ve found a buyer. Lawyers are required for transactions in New York and your attorney will negotiate the purchase contract on your behalf. Brokers are not involved in writing up and reviewing contracts in New York unlike some other states. Your lawyer will be the point person after an offer has been accepted all the way through to closing.
Here are some great articles on the process of selling a home in NYC which we recommend reading. If you have any further great questions, please ask them in Hauseit’s Forum!
https://www.hauseit.com/selling-a-house-in-nyc/ A Guide to Selling A House in New York
https://www.hauseit.com/steps-to-sel...-co-op-in-nyc/ What are the steps to selling a co op apartment in New York City?
https://www.hauseit.com/tips-selling...thout-realtor/ What are some tips for selling a coop apartment without a traditional Realtor? -
Very interesting, presumably this is for the Agent Assisted FSBO "self service" listing.
So when we go to closing, in all my past purchases the agents were present. Is that not a necessary part of the process here?Comment
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Hi Ryan,
Even for full commission customers, the brokers will usually not be present at closing as they do not have a role to play. They may show up at the end to congratulate their clients and pick up their commission checks, but otherwise it would only be for moral support.
Given that you have signed up for a self-service listing where the listing broker is only responsible for listing/marketing the property per your listing agreement, it definitely should not be expected for the broker to show up. Please remember to read this great article to set expectations on the level of service associated with a flat fee MLS listing.
Please remember to ask any further great questions in Hauseit’s forum!
More about the closing process when selling property in NYC: https://www.hauseit.com/selling-a-house-in-nyc/Comment
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