One of our agents, Georgieanna Fisher, was recently told by a soon-to-be seller at Glen Ridge that Home Selling Team was not a listed as “preferred realtor” for Glen Ridge. It’s true, Home Selling Team declined to renew our status as a “preferred realtor” on the list that is distributed by the Administrator to residents. We were on the list for several years but chose not to renew after realizing there is no benefit to any Glen Ridge owners or to us as their Realtor.
For instance, if someone sees our listing of the unit online in MLS, on Zillow, Realtor.com, etc. and stops by the office, the names of prospective buyers are not shared with the listing agent and showings are conducted directly by the Glen Ridge Administrator or staff, without the knowledge of the listing agent or seller. This makes it difficult to do our job effectively on behalf of our client, the seller. Typically, following a showing or an inquiry, we follow up to determine if there is further interest, to schedule a second showing or answer questions about fees and the nuances of purchasing a cooperative. This is not possible if we don't know who viewed the unit and when and what their level of interest is.
In fact, the only requirement to be a “preferred realtor” is that you be willing to work for an assumed reduced commission as the listing agent of a Glen Ridge property. All real estate commissions are (and have always been) negotiable and Realtors are free to work at a fee that is acceptable to them or according to their office policy, regardless if they are listed as a Glen Ridge "preferred realtor".
“Preferred” according to Meriam-Webster: to promote or advance to a rank or position; to like better or best; to give priority. In my opinion, the term “preferred realtor” is confusing for residents and implies that there has been a vetting process employed by the Glen Ridge administration that warrants a recommendation or endorsement of the real estate companies/agents on the list. This is simply not true—of the 3 “preferred realtors" currently listed, 1 is related to a resident, another is a friend of the Administrator and 1 has never sold a unit at Glen Ridge —none of which appear to be advantageous to a seller.
Bottom Line: If you live at Glen Ridge and you want to sell, you are free to hire any realtor you know or who has been recommended to you. If you are interested in purchasing at Glen Ridge, same goes.
At Home Selling Team, we are happy to do business at Glen Ridge. Personally, I have met some delightful people that I have sold homes to or for in the Glen Ridge community, my status as “preferred” notwithstanding. In the spirit of full disclosure, one of them is my mother-in-law, Bev, who has been a mover and shaker there for the last 9 years.