5 secrets for working with a NYC rental agent

OK, here are some REAL secrets for working with a NYC rental agent:

1. Let them know YOU are the boss.

2. Negotiate a fee early, and don't blithely accept that you MUST pay a minimum of 15%. And get the agreement IN WRITING.

3. Hold their feet to the fire and keep in constant touch.

4. Continue looking on your own, and don't be intimidated into paying their fee for something you've found on your own.

5. Share your experiences with this agent -- both positive and negative -- with the world.

Broker clause:

"If purchaser finds apartment on his own efforts and research, broker forgoes his commission from seller."

Considering you can get live comps for cheap online, what's the reality any broker will accepts this? Not a broker-basher, just being realistic since last time I bought, 90% of what my broker showed me, I found on listings/ads prior.

I believe technology has made the rental agent about as relevant as the travel agent.

Matt, people said this over a decade ago. Hardly the case. Unless you mean specifically for renting.

Travel agents don't kick back part of their NOT 15%+ commissions to airlines, and don't mandate that the airlines not sell through other channels.

"Unless you mean specifically for renting."

I thought I was clear when I said "I believe technology has made the rental agent about as relevant as the travel agent."

I guess I should have capitalized all the letters in the word "RENTAL".

What you should have done was put it in the thread's subject line.

I see a renter's agent valuable if one is from out of town, but not 12% or 15% valuable. F that.

EXCEPT that our clients think we are valuable. who do you think the clients are? (hint: it isnt the stupid fucker picking up the tab).

NYCMatt, all good points. I don't understand #4, though. How can an agent collect a fee on something you found yourself?

... when the LL then refers the tenant to the agent so LL can get his kickback.

Simple solution: If the LL has an agent who handles his building, either pay or keep looking.

>If the LL has an agent who handles his building, either pay or keep looking.

I think a candlelight vigil might be a better solution. Maybe peer pressure, the press, and some harsh chants will change things.