Brokers fee for rental--who pays what, generally?
Started by Anne99
over 12 years ago
Posts: 0
Member since: Nov 2013
Discussion about
A very close friend is acting as my agent in my apartment search. We found a place and I will be signing the lease after the holiday, but I am confused about the fees. The application package says the brokers fee is 7.5% and should be paid to the listing broker's firm. My question is, how does my agent/friend get compensated? Do i pay him directly, or does he get a split from the other broker? Of course I'd love to keep the total fees to a minimum, but I thought the typical fee was closer to two months rent and I want to make sure my friend is compensated fairly.