Rachel Milito, Where dreams come home ! YOUR NJ REALTOR ! (Star Real Estate Agency)

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Rainmaker
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I have never co-listed in my life. What's the rationale here? And I wouldn't agree to do so unless a seller requested a co-listing for some reason and even then would need to think about whether I want to co-list.

Mar 11, 2018 09:48 AM
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

 32 new, young agents - what are they looking only for agents who have a pulse?! That's crazy and to require that you have to co-list is bizarre!

Either BOTH of you attended the listing presentation, know everything to know and sell the home AND have the sellers' permission or this is just WRONG on so many levels!

I would get the heck out of Dodge if my broker required this!

Mar 11, 2018 10:05 AM
Rainmaker
2,584,659
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Who are you co-listing with?  I really don't have enough information here to provide meaningful feedback.  

Is there ONE agent that all other agents co-list with? 

Who is generating the business? 

Mar 11, 2018 09:32 AM
Rainmaker
1,067,656
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I am not a fan of co-listing, especially if the co-agent is the one who actually brought in the business.  I know teams out here have a hard-on for this approach, mainly so the team lead gets the stats and looks like they do 100s of deals a year, while in all actuallity they have zero to do with the deals.

 

I think it's a scam that hurts the agents actually doing the work in the long run.

Mar 11, 2018 09:55 AM
Rainmaker
285,897
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Have these young agents brought the listing in? If so, co-listing will give them experience. But if the more experienced agents brought the listing in, why would they do this? It is their listing.  I also question the Independent Contractor Status of these young agents. A brokerage cannot force anyone who is a true Independent Contractor to co-list unless they really want to.

Mar 11, 2018 09:48 AM
Rainmaker
796,640
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

You lose partial credit for the sale and oh by the way; you are an independent contractor, that can not be put upon you without some sort of incentive to do so.

Mar 11, 2018 01:16 PM
Rainmaker
565,039
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The only time I have co-listed anything, the property was across the river in CA and needed a CA broker. We would execute broker engagement agreement, they would officially execute the listing, and I would market the property and bring the buyer.
Just like what Kathleen and Nina both said . . . what's the upside?

Mar 11, 2018 10:12 AM
Rainmaker
405,818
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I spoke to someone on the top grossing team in my area awhile ago about this. She said that a negative is that one person will often list more than the other. You still have to do double the listings to break even because your commissions are split in half so that falls heavier on the lister. The positive part is the silver lining in that each person brings their best skills to the team & they focus on the tasks they are best at, making a well rounded, skilled team that can do more business.  

Mar 11, 2018 10:09 AM
Rainmaker
2,880,035
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Well, that's an interesting question and " situation " that deserves more office/broker-agent discussion.  

Mar 11, 2018 09:52 AM
Rainmaker
35,656
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

I was trying to break into the luxury segment of our market.  I co-listed the first several listings, and it worked out wonderfully for both of us.  

Mar 11, 2018 09:44 AM
Rainmaker
4,260,079
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I've never experienced that except with one subdivision.... I was invited in to get the darn thing sold....we split the listings.... when I sold one, it was replaced with one of the co-listing agent's homes.... I did 3 to 1.... and made out well....

Mar 11, 2018 09:42 AM
Rainmaker
224,637
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

I've never co- list a property with another agent.  If I'm out of town I will select an agent to help while I'm out.  Depending upon the work load, I usually pay for the service.

Mar 11, 2018 09:39 AM
Rainmaker
591,011
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Like Kathleen Daniels said, we need more information to give an opinion. 

Mar 11, 2018 09:37 AM
Rainmaker
929,537
Corinne Guest
Barrington Realty Company - Barrington, IL
The Choice of Professionals for Luxury Home Buying

Sounds like school to me! 

Mar 11, 2018 03:18 PM
Rainmaker
3,723,309
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Rachel,

I agree with Nina Hollander .  The  co listings I have seen was on a $108 million dollar property which supposed to reach a wider audience on both coasts.  I can't say it works, because one the agents is competent, and the other is sitting on their duff and knows nothing...A

Mar 11, 2018 11:42 AM
Rainmaker
944,392
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Not ever having done that, perhaps you could share some of your experiences with us.  How does it work in your office... procedurely and otherwise?  What do you see as pros and cons, Rachel?

Mar 11, 2018 11:24 AM
Ambassador
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Pros...  can't think of any.

 Cons... you lose a chunk of the commission, maybe even half or more than half.

Mar 11, 2018 11:14 AM
Rainmaker
3,583,257
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

No way..I know I work harder than most

Mar 11, 2018 11:09 AM
Rainmaker
2,267,607
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Whose in charge? Who gets paid what?

Mar 11, 2018 10:53 AM
Rainmaker
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Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

What would be the rationale in co listing?  If a new agent wants experience they can tag along with me on an open house or appointments.  I can't see any pros, only cons that you would be giving away part of your commission.

Mar 11, 2018 10:45 AM
Rainmaker
2,645,359
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Not sure what benefit is being derived here. If a new agent brings in a potential listing, where is the managing broker to guide them. Why  would they give up half the commission?

Maybe in some type of mentor program for a period of time!

Mar 11, 2018 10:19 AM
Rainmaker
652,958
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

PROs 

  1. agent gains experience
  2. client is not left to ride a ship destined for the rocks
  3. Agent is not burdened with receiving the entire agent compensation
  4. Creates in the agent the understanding they are in business for themselves but not by them-self.
  5. When the proverbial '...hits the fan' there will be someone else to blame. 

CON

  1. Someone else is getting more benefit from your work
  2. Do you really need more hands in your pocket
  3. Agent does not mature their systems.
  4. You may not know what's really happening behind the curtain
  5. If not a VERY short term arrangement, you are playing the role of  a chump. Don't do it. Get a mentor instead.
Mar 11, 2018 10:12 AM
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I have never co-listed so I can't help. Interested to hear what others say. Are they co-listing within the brokerage?

Mar 11, 2018 09:44 AM
Rainmaker
1,155,620
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Sounds like the Brokerage is trying to teach some new agents good habits.

Mar 11, 2018 09:39 AM
Rainmaker
2,453,235
Richard Weeks
Dallas, TX
REALTOR®, Broker

The only pros are if you are on a team and split everything.

Mar 12, 2018 05:05 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Rachel Milito - Good idea for sure.

Though I prefer to list on my own, no co-listing.

Mar 11, 2018 09:32 PM
Rainmaker
528,840
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Our Team co-lists many listings depending on who actually generated the listing. I am going to spare you the details but it works for us.

Mar 11, 2018 05:18 PM
Rainmaker
648,314
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

That might be a good idea for a new agents first 3 listings, but it's not a common practice around here.

Mar 11, 2018 04:39 PM
Rainmaker
462,511
Dan Tabit
Northstone Real Estate Inc. - Sammamish, WA

I co-list all mylistings, but my co-listing agent is my wife. On occasion, another agent in my office has asked me to co-list, their listing to help train them and provide support.  

If you need the help and don't mind a smaller pay day, do what's right for you. 

Mar 11, 2018 03:01 PM
Rainmaker
1,173,958
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I have only co-listed a few times, for specific reasons each time. I don't want to do it again.

Mar 11, 2018 01:38 PM
Rainmaker
665,939
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It's good for young agents as training. 

Mar 11, 2018 01:25 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

May be a way that they are encouraging mentorship between new and old agents.

Mar 11, 2018 01:07 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

That is an unusual requirement.

Mar 11, 2018 12:20 PM
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Rachel Milito I've co-listed with another agent for various reasons, but never with everyone in an office. In the long run there will be some animosity because some will be doing all the work and all will be benefiting. This will get old in a hurry. Make sure everything is in writing outlining responsibilities.

Mar 11, 2018 12:16 PM
Rainmaker
3,521,691
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I would not, but see many "teams" do it.

Mar 14, 2018 04:21 PM
Rainmaker
1,346,308
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I think, it is a great idea in general. Is it originally a new agent listings or new agents just added for more exposure?

Mar 13, 2018 12:26 AM
Rainmaker
369,306
David Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality

Rachel Milito 

   I have not heard of co-listing ... is this working like one huge (brokerage team?) To delegate in a team format is great but there need to be assigned tasks so everything is done but not then being done multiple times or falling through the cracks either.

Mar 12, 2018 05:47 PM
Ambassador
1,905,569
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Sometimes agents co-list to pool their experience and gain a listing advantage. Sometimes they co-list because they are in different locales and help each other out. Sometimes NEW agents co-list their listings with an experienced agent. I don't know why experienced agents should co-list every one of their listings with a new agent. Every listing should be looked at on a case-by-case basis. Unless you are partnering with a person permanently and have some guidelines in place, it doesn't seem to make too much sense to co-list every listing. 

Mar 12, 2018 06:49 AM
Rainmaker
4,246,747
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It would depend on the circumstances.

Mar 12, 2018 05:47 AM
Rainmaker
2,926,422
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

If it's a training exercise - why not?

Mar 12, 2018 05:46 AM
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I don't understand this as a standard practice. We do designated agency and that means one agent works with the seller or the buyer. This is better for confidentiality.

Mar 11, 2018 06:48 PM
Rainmaker
2,637,403
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I do not co list any of my listings. If it is mine it is mine. Now if i was going to be away, then i would colist if they were going to take care of all contacts, calls, inquiries and such on that listing. If it is a partnership, yes, but just to do it, no way

Mar 11, 2018 03:56 PM
Rainmaker
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Erika Rae Albert, Austin Real Estate Expert
E*Rae Real Estate Group- Powered by eXp Realty LLC - Austin, TX
Exceeding Expectations in Every Transaction

One disadvantage is that the agent who should be recieving listing calls will not necessarily be getting them.  In our MLS, if it's a co-list their will be an agent 1 and agent 2.  You have to spell out who to call in the remarks section and even then buyer's agents will often call the wrong person.  Also, the agent may not be getting credit for sales on zillow etc.

Mar 11, 2018 02:59 PM
Rainmaker
356,505
Diana Dahlberg
1 MONTH REALTY - Kenosha, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I have never co-listed a property. 

Mar 11, 2018 02:11 PM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We don't have enough info to understand your company's thinking ?

Mar 11, 2018 12:12 PM
Rainer
92,192
Lynne Pope
eXp realty, MFA,Hermosa Beach,Redondo Beach,South Bay - Los Angeles, CA
"Out of the Blue" solutions for perfect homes

That is a new concept. So the experienced agents co-list to help or train and share the listing? Is that the Broker model?  If its on every listing it seems weird. Sorry I just dont get it. 

Apr 09, 2018 10:51 PM
Rainmaker
3,994,926
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea

Mar 12, 2018 03:09 AM