brokers commission question

Started by drums

over 16 years ago

Posts: 24

Member since: Mar 2009

Discussion about

I've never rented an apt. from an owner before, only from management companies, so I've never paid a fee to rent an apartment. I had a question hoping someone could answer. If I see an apartment listed on a brokers website and rent it from an individual owner, who pays the broker commission? Does the owner of the apartment pay them, or do I have to pay them even if I find the apartment myself and am not represented by a broker. Thanks! (Im sure this is a simple question that has been answered before, sorry)

Response by manhattanfox

over 16 years ago

Posts: 1275

Member since: Sep 2007

you pay no fee -- the owner has an agreement with a broker -- but if you found it directly -- it is between them unless you agreed to pay a fee upfront. With all the free months rent out there-- you should be getting 2 mo free --

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Response by 30yrs_RE_20_in_REO

over 16 years ago

Posts: 9877

Member since: Mar 2009

Depending on the Broker, many won't put units on their website if they are not "protected' in some way - like they have an exclusive which states that if the apartment gets rented by anyone, the owner will pay them 1 month's rent.

But I have a question: if you saw it on their website, how did you end up finding the apartment in reality? Did the website give you the owner's phone number, or did you do your best to cut the Broker out of the transaction and now you want to know if he's got some recourse?

brokers commission question

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