Co-op Agent Policy

Loren’s philosophy has remained unchanged since our founding in the early 80’s: our mission is to provide the best possible product and experience for our clients at the lowest possible cost. We can distill this to a phrase we use commonly within our team: “custom doesn’t have to mean expensive.”

Candidly, providing a product that meets our standards at the lowest cost possible has proven to be increasingly difficult over the past few years. Material costs have risen steadily, with no abatement in sight. Our vendors have faced labor shortages that began almost a decade ago, and have only become worse over time. In addition, building permit and municipality-mandated fees have increased at a rapid pace. While it is true that the housing market in general has allowed us to raise prices post-pandemic, the rate of price increases does not match the escalation of our direct costs.

A hallmark of our goal to provide the best possible product and experience for our clients is the concierge-like approach we take. Our clients have 24/7 access to myself and my sister / co-owner, Lauren – including our personal cell phone numbers. We are always available to directly answer questions and respond to feedback from our buyers, without the filter or buffer of a salesperson or company representative. I personally handle all contract administration throughout the transaction, coordinate with private inspectors and appraisers, and directly respond to lender inquiries. Our entire system is based on establishing a personal, collaborative relationship with our clients. Quite simply, our team does most – if not all – of the “heavy lifting” involved in the relationship.

We also understand and appreciate the value our co-op agents bring to our projects. There are definitely times when our clients may need the counsel of an experienced agent, and when they prefer to lean on their representation for communication. We absolutely welcome the assistance in these situations.

In an effort to balance our costs with providing fair compensation, we will be paying a flat fee of $15,000 in lieu of a percentage of the purchase price as commission moving forward. This fee will be firm regardless of the price of the home, as our process is exactly the same for all of our clients. All agents will be protected, even if their clients initiate contact with us first. The only stipulation to being eligible for the commission fee is that all agents must be engaged prior to execution of our purchase and sale agreement.

We appreciate your consideration and look forward to working with you.

Your partner in building,
Andrew Carruth