2 different $ listings to rent out condo
Started by RClavi
about 18 years ago
Posts: 69
Member since: Aug 2007
Discussion about
If I were to rent out my condo on my own (i.e. on streeteasy, nytimes, etc.) but provide brokerage community a 3% incentive, could I technically have 2 types of listings - a lower $ rent amount on my own listings, and give the brokers a higher $ listing rent amount to cover the 3%? Are there legal ramifications against this, i.e. a buyer gets the deal through a broker then later sees the same listing at the lower $rent amount on nytimes (non-broker)? Thanks in advance.
you could advertise the property on your own and then call a few select brokerage companies and tell them you have a property for rent and provide it as an "open listing" for them. This would mean you have brokers working for you and if they rent it, they collect the fee (typically 15% of the annual rent) from the tenant. If you rent it on your own, then the tenant doesn't pay any fee. You should not advertise different prices...strobgly advise against that. It would make things too complicated. Brokers deal with "open listings" all the time. ultimately though, if it doesn't rent within the first two weeks, then you should probably think about giving it one particular broker as an "exclusive" so that they would focus on the rental of your unit...they would pay for advertising, qualify the tenant and do all the legwork..and you also get the exposure to the brokerage community and everything filters through one person. if you don't, you'll end up answering phone calls from 100 or so brokers!
sick post, grazie kam