Finder`s Fee Agreement Real Estate New York

If you`re looking to buy or sell real estate in New York, you may come across the term “finder`s fee agreement”. This refers to an agreement between a real estate broker and a person or entity who introduces a potential buyer or seller to the broker.

Essentially, the finder`s fee agreement is a way for the person who made the introduction to receive compensation for their efforts. The agreement is usually a written contract that outlines the terms of the fee and any conditions that must be met for the fee to be paid.

Finder`s fees are common in many industries, including real estate. In New York, these fees are typically paid by the broker, not the buyer or seller. The amount of the fee can vary, but it is usually a percentage of the commission earned by the broker on the sale.

It`s worth noting that finder`s fees can sometimes be controversial, as they may be seen as an unnecessary expense for the buyer or seller. However, in many cases, they can be a valuable way for brokers to expand their network and find new clients.

If you`re considering entering into a finder`s fee agreement in New York, it`s important to work with a reputable broker who has experience with these types of agreements. The contract should clearly outline the terms of the fee, including the percentage that will be paid and any conditions that must be met.

Overall, a finder`s fee agreement can be a useful tool for brokers and individuals looking to buy or sell real estate in New York. Just be sure to carefully evaluate the terms of any agreement before signing on the dotted line.

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