NY TIMES: Using One Broker for Buying and Selling

August 28, 2009, 11:09 AM
Using One Broker for Buying and Selling
By JAY ROMANO

Q.
I found an apartment that I’m interested in. But the broker for this apartment is also the broker whom I wanted to use to sell my own apartment, although I have not signed with him yet. Should I avoid listing with the same firm because of a conflict of interest?

A.
“No,” said Edward I. Sumber, a White Plains lawyer who is also legal counsel to a number of New York real estate groups, including the Westchester Board of Realtors. “Always list with the person who is most effective and has your best interests in mind.”

In New York, Mr. Sumber said, a consumer can choose to work with a broker as a dual agent. In such circumstances, the broker works for the seller and the buyer with the informed consent of both. “Effective people get the job done,” he said.

He noted that a dual agent cannot absolutely guarantee undivided loyalty. But such loyalty, he said, might not be as valuable as having a respected, honest and effective agent working on your behalf.