WHAT IS CO-AGENCY?
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A Co-agency is usually a cooperative framework in which two or more realtors or agency firms collaborate on the same property deal. Listing firms represent the Listing Agent (LA) and Cooperating Firm by the Co-agent (CA). How does Co-agency work? Both agents should sign the agreement first before commencing the work. Agreement will prepared by the Listing Firm because they are legally appointed by the vendor to go and sell and market their property. Both parties must agree with all the terms and conditions in the agreement and sign it before proceeding to the next step. The Listing Agent (LA) will collect the deposit once the deal is closed. The listing Firm will issue the fees to the Cooperating Firm and that's how they get their commissions. How much does the Co-agency share? In a standard way, it's a 50-50 sharing. Somehow, it depends. Some LA will say they are collecting 3% and if any agent wants to do co-agency with them, the fee sharing is 1% so...