Co-broking involves two or more salespersons in a property transaction. A salesperson should promote your interest and explain and advise on co-broking options.
Co-broking is advantageous as it widens exposure of property to all. With more potential parties who may be interested, you may be able to get a better deal.
A salesperson should NOT:
- Deny co-broking opportunities to other salespersons because of pre-identified salespersons whom he is only prepared to work with.
- Adopt unacceptable practices such as advertising property with phrases such as “buyers only”, “no agents”, “already co-broke”, etc.
- Ask for additional commission or fees from consumer due to co-broking.
- Force someone to engage him and pay him commission.
- Deny property viewing opportunity to a DIY consumer.
CEA takes a serious view of salespersons who seek to block other salespersons or consumers from participating in the property transaction to the detriment of the client’s interest. CEA will take action against such errant salespersons