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Do buildings get kickbacks from brokers?

Started by aptrenter
about 13 years ago
Posts: 0
Member since: Oct 2012
Discussion about
There's been a lot of discussion in this forum about the 12-15% broker fee. I understand that, on the surface, this fee is split between the tenant's agent and the exclusive agent, where there is one. In situations where the exclusive is contracted by the building (i,e., he is not a building employee), has anybody heard of property managers, owners, supers, or leasing agents taking kickbacks from brokers? How do brokerage firms lock down exclusives beyond "the relationship"?
Response by jason10006
about 13 years ago
Posts: 5257
Member since: Jan 2009

I am sure that happens from time to time, but generally not. The LL wants the apartment filled.

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Response by columbiacounty
about 13 years ago
Posts: 12708
Member since: Jan 2009

data?

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Response by jim_hones10
about 13 years ago
Posts: 3413
Member since: Jan 2010

Just suck it up and pay the fucking fee, or find an apt w/o one. There is no major conspiracy. It's a business.

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Response by caonima
about 13 years ago
Posts: 815
Member since: Apr 2010

jim, why don't you and the brokers suck up and lower the fvcking fee?

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Response by jim_hones10
about 13 years ago
Posts: 3413
Member since: Jan 2010

because the option exists to get an apartment w/o one. people who don't find value have the option.

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Response by ab_11218
about 13 years ago
Posts: 2017
Member since: May 2009

everyone likes "gifts" and will give preference to the brokers who provide them. this is a common occurance. the "gift giver" will have the first shot and may even get a week to rent it prior to the listing coming out to the open market.

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Response by jim_hones10
about 13 years ago
Posts: 3413
Member since: Jan 2010

ab_11218
about 3 hours ago
Posts: 1669
Member since: May 2009
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everyone likes "gifts" and will give preference to the brokers who provide them. this is a common occurance. the "gift giver" will have the first shot and may even get a week to rent it prior to the listing coming out to the open market.

would that be akin to say, someone in another business taking a client out for a dinner and drinks?

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Response by jim_hones10
about 13 years ago
Posts: 3413
Member since: Jan 2010

i other words, sop in any industry?

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