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What ever happened to the broker fee being 1 month's rent. And now all brokers want 15% of the entire lease amount. Unbelievable. This is extortion.
Just because they ask for it dosen't mean you have to pay it. Negotiate. If you're well-qualified and the broker isn't an imbecile they'll probably work with you.
jimmy hones'll cut ya a deal!!
how is it extortion?
While I agree that all brokers are superfluous and very few provide any real value, and their interests are never in line with anyone else's... I would not say it is extortion!
collusive, highway robbery, outrageous was a good one,
BY OWNER - sounding better and better every day.
a
Right here on SE you can search for Apts.
http://streeteasy.com/nyc/process/rentals/edit_search
Uncheck "broker fee" and/or "broker no fee" if so desired.... Good luck!
my current discount is a free personal training session with a buddy who works at equinox.
op, perhaps you'd be more suited to the substantially less expensive parts of the outer boroughs?
or just go to nybits.com, and use the savings to get a couple year's membership with weekly PT sessions at Equinox. Or buy a whole lotta Oliver Peoples glasses and Gucci shoes, and if youre lucky, you can run with Jimmy!
>with a buddy who works at equinox.
Are those the career choices? personal trainer or rental broker?
Look at the numbers on your favorite site you stupid twats:
Nearly 8000 broker represented listings at around $3300 rent
Almost 1600 by owner listings at over $3500 per month in rent
Sure, look at less property, and pay more. Smart.
Ill count my money. Smarter.
Im still waiting for the demise if my industry. Can anyone tell mw when this will happen?
Cuntberg, what is your career? Certified troll?
To say it's extortion is extreme, but some brokers certainly defend the 'cartel' by flooding the closest thing to a free market, craigslist, with misclassified junk to make it as unusable as possible.
Jim Hones,
You aren't really doing your profession any favors if your math is off.
Rent with Broker:
3300*12 = $39600 Broker Fee (15% of year) = $5940 Total = $45540
Broker Fee (1 month rent) = $3300 Total = $42,900
Rent Without Broker:
3500*12 = $42,000 Savings: $3,540 (assuming 15% broker fee)
So yes you may have more inventory going the broker route, but you have you definitely are paying a premium for it. You still come out ahead going no broker if you say broker only charges one month rent, though the premium of $900 dollars might be worth it for the extra inventory available.
pardon the grammar mistake in the first sentence. It should read as follows.
So yes you may have more inventory going the broker route, but you are definitely paying a premium for it