From the November issue: Real estate brokers are often stereotyped as shysters and
double-dealers. But in today’s rocky market, buyers are sometimes the
ones being deceptive.
Edward Longley, an associate broker at City Connections Realty, was
shocked to discover recently that his clients were planning to buy the
88 Greenwich Street condo he had shown them — but without paying
Longley a commission. And real estate agent Carleen McManus arranged
for her client to see a unit at Jersey City’s 77 Hudson before she went
on vacation, only to return and find the client negotiating to buy a
unit there. More and more agents say buyers they have worked with — often for
months at a time — are cutting them out of the deal when it’s time to
pay the commission.