Before You Buy or Sell a Home on The North Fork of Long Island

March 17th, 2008 category: Buyers, Real Estate News, Real Estate Philosophy, Sellers

Before you buy or sell a home in New York, you might want to read the article The practice of Sub-Agency is Dead. For Gosh Sakes, Let’s Bury It!
by Avery Yarbrough located here.

While we strive to provide updated market information, the above article does a better job than many others of explaining the practice of agency relationships, as presented to consumers in New York. If your listing agent is offering compensation for a “sub” agent, vicarious liability is present in the purchase. Something to think about.

Read the article Vicarious Liability
From James Kimmons here.

If you are considering a home on the North Fork of Long Island, check this out before you list your home, or purchase a home. Engaging in “dual agency” is a bad plan; better for all simply to have your real estate agent represent you, and allow the buyer’s agent to have their own representation (for whom you carry no vicarious liability).

We operate with the knowledge, having practiced Real Estate in other areas of the country, that is offered in the above article. Long Island, New York is one of only a few areas having difficulty with a transition that took place in many areas over ten years ago- don’t be behind the times!

images: Tory Byrne - stock.xchng.com

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This entry was posted on Monday, March 17th, 2008 at 3:00 pm and is filed under Buyers, Real Estate News, Real Estate Philosophy, Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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