I am looking into putting a house on the market in the NYC area. I have a builder interested but he has been putting me on hold for about 5 months now. I have done business in the past with him so I’m not THAT nervous about waiting. He is in the process of completing another build so he is waiting for the sale of this house to purchase mine. I was looking to get an agent to list the property and if I get an offer that’s more great. But. If the builder comes through can I stipulated this was my contact and no commission for the agent? Or get out of a contract? We presently only have a verbal agreement with the builder which is nothing to me. Is this something I can specify in the contract or are they pretty much-canned contracts.

I don't see why it couldn't be ammended, but then again, I only know California stuff.

Hopefully an NY agent can give you a better answer...

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When you list your home for sale with a real estate broker in NY there are basically two types of agreements: Exclusive Agency and Exclusive Right to Sell.

Exclusive agency allows a broker to sell your home for an agreed to compensation however if you find a buyer yourself you are under no obligation to pay a commission. Exclusive Right to Sell is basically the same with the exception that even if you find a buyer you still have to pay the broker the agreed to commission.

Understandably, for obvious reasons there are brokers who will not accept Exclusive Agency agreements.

If you're in Westchester, Putnam or Dutchess County send me a PM.

Nicely explained.
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