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

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Rainmaker
3,473,761
Nina Hollander
Coldwell Banker Realty - 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
3,699,190
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

 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
2,875,851
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
1,300,662
Ryan Huggins - Thousand Oaks, CA
https://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
456,556
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
1,006,513
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
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
803,994
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
613,811
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
3,644,464
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 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
54,478
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
5,358,358
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

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
418,253
Susie Kay
Ultra 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
1,360,766
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
4,857,345
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
1,475,870
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

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
2,474,197
Fred Griffin Tallahassee Real Estate
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
3,985,519
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
2,550,932
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
577,189
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
3,591,628
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

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
816,055
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
4,227,775
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

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
1,312,877
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
3,415,053
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
771,157
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
783,331
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
509,170
Dan Tabit
Keller Williams Bellevue - 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
1,573,412
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
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
771,722
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
4,705,668
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
5,814,908
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

That is an unusual requirement.

Mar 11, 2018 12:20 PM
Rainmaker
1,405,277
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
4,339,803
Joan Cox
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
1,507,091
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas 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
1,042,067
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

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
2,016,051
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
4,798,566
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
3,064,584
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

If it's a training exercise - why not?

Mar 12, 2018 05:46 AM
Ambassador
3,985,034
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
3,168,647
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area 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
175,913
Erika Rae Albert, Austin Real Estate Expert
E*Rae Realty - 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
503,832
Diana Dahlberg
1 Month Realty - Pleasant Prairie, 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
1,918,704
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
Rainmaker
1,386,185
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea.

Nov 24, 2018 01:14 PM
Rainmaker
1,840,187
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Me too. I never had a co-listing, unless it is my office agents. 

Jul 21, 2018 04:42 AM
Rainer
92,900
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
4,432,756
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea

Mar 12, 2018 03:09 AM