Posted on Tuesday October 19, 2010 9:09 PM
by Joseph Kazickas 1 Comment »

The term is to “co-broke” it means to share a listing or to co-operate between brokers to facilitate a sale and in the Hamptons it appears to be some sort of dark science. In principle every Hamptons agent is willing to co-broke but in practice are they really? The brokerages make their money on convincing sellers to list exclusively promising that they will do their best to promote the property’s sale to the max, but are they really doing that? MLS  (Multiple Listing System) has failed to be adopted in the Hamptons because the major market players have repeatedly rejected it. Why would they reject a first rate technical system that is reasonably priced and provides for seamless and immediate sharing of exclusive listings between brokers. Simple, because every MLS board more than provides for co-broking, they insist on it without reservation, as well as all sorts of other “annoying” practices like regular updating of listings, deactivation of sold or off the market properties from the Internet. For an intellectual take on some of these issues please see the following article. The Great Hamptons MLS Debate. Full disclosure the author of this article is not only a smart guy but he’s my business partner.