Co-Broke

What does co-broke means?

The co-broke means an agent close a deal with another agent.

"Co-broking" is a term that has special meaning for those selling "by owner". First off, it is "co-broking," not co-brokering. As those in the field know, this refers to agents sharing a listing. For example, an office with a listing will "co-broke" with another office, which may have a buyer. If there's a sale, the agents will split the commission.

When it comes to selling "by owner", it is possible, even desirable, for you as the seller to co-broke your own property.

But, you may be wondering, how can I do this when I'm not an agent? The answer is that when you're selling "by owner", you're performing the functions of the listing agent (or, at least, you should be!). You've put a sign in front, you're advertising, you're taking phone calls, you're showing the property and on and on. Therefore, you can claim the equivalent of half the commission.

In a typical real estate sale where there's a 6 percent commission, the listing office gets half the commission (3%). The other half (the other 3%) goes to the selling office, the agency that produces the buyers. Your half is the same as the listing office's half, when you deal with an agent while selling "by owner" (source: http://www.owners.com/fsbo-articles/home-selling-tips/co-broking-your-property).