Market for a rental broker charging 10%?

what about co-brokes?

No bias here, I am not a broker so here are my thoughts.

This is even more f***ed up than the sale commission.

Let's say you rent a $3,000.00/month apartment, that means a broker/firm would get $5,400.00. That is almost two months of rent down the drain. Rentals require even less work than the sale, but you get to pay that nice 15% commission. In a city that has an occupancy rate of X% (extremely low), broker's charging 15% is utter bull shit but it is the norm. For less than 4 hours of work, $5,400.00 down the drain.

I really think if one firm focused entirely on rentals and charged flat fees, they could take over the market.

$2,000.00 - $2,999.99 apartment = $2,000.00 Fee

$3,000.00 - $3,999.99 apartment = $2,250.00 Fee

etc.

I understand that there are certain apartments that require more work, but we're talking about walking around the city and showing some people an apartment. Nothing that complicated, nothing that requires hard work.

Consigliere
about 3 hours ago
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No bias here, I am not a broker so here are my thoughts.

This is even more f***ed up than the sale commission.

Let's say you rent a $3,000.00/month apartment, that means a broker/firm would get $5,400.00. That is almost two months of rent down the drain. Rentals require even less work than the sale, but you get to pay that nice 15% commission. In a city that has an occupancy rate of X% (extremely low), broker's charging 15% is utter bull shit but it is the norm. For less than 4 hours of work, $5,400.00 down the drain.

I really think if one firm focused entirely on rentals and charged flat fees, they could take over the market.

$2,000.00 - $2,999.99 apartment = $2,000.00 Fee

$3,000.00 - $3,999.99 apartment = $2,250.00 Fee

etc.

I understand that there are certain apartments that require more work, but we're talking about walking around the city and showing some people an apartment. Nothing that complicated, nothing that requires hard work.

and co-brokes?

rental brokers are an expensive impediment to the process. fortunately, with the internet, they are on the way out. Use SE, NY Bits etc and youll be much better off.