Key Takeaways
- Written agreements set price, terms, and responsibilities in advance.
- Broker agreements clarify commissions and representation.
- An attorney should review every contract before signing.
Mendy's Original Take
From the Mendy Realty archive, first published by Mendy Lipsker.
Open Listing: The seller gives the listing to everyone they choose to in real estate.
Exclusive Listing: The seller designates a particular individual as the “go to person” in charge of selling their property.
2026 Brooklyn Market Snapshot
Brooklyn prices kept rising in 2026 while fewer homes came to market, giving well-prepared buyers and sellers a clear picture of where value sits.
Median sale price by neighborhood, Q3 2026
Neighborhood medians are for Q3 2026.
What Every Contract Should Cover
Parties and property
Who is buying and selling, and exactly what is included.
Price and terms
Deposit, financing, contingencies, and closing date.
Representation
Who each broker represents and how they are paid.
Common Questions
Do I need a lawyer to buy property in New York?
In New York, attorneys commonly handle contracts and closings, and having one is strongly recommended.
What is a broker agreement?
A written agreement that defines the broker's role, duties, and commission.
Related Reading
Talk To A Brooklyn Broker
Buying, selling, or investing in New York real estate? Start with a direct conversation.
718.751.0738Market figures compiled from public records and published market data. Information is believed reliable but not guaranteed and should be independently verified.
