Sticky Broker Situation
Started by MistakesWereMade
about 12 years ago
Posts: 0
Member since: Oct 2013
Discussion about
Hey everyone - I would like to ask some advice about dealing with a sticky broker situation: I was searching for a rental with the help of a broker: I go with the broker to see an apartment in building X. I am told by the broker that this is a no-fee building so that his fee will be covered by the management co., but that this particular apartment is already off the market and there is no other... [more]
Hey everyone - I would like to ask some advice about dealing with a sticky broker situation: I was searching for a rental with the help of a broker: I go with the broker to see an apartment in building X. I am told by the broker that this is a no-fee building so that his fee will be covered by the management co., but that this particular apartment is already off the market and there is no other availability. If it makes any difference, I have been to building X multiple times before as several friends live there. Broker then takes me to building Y, owned under the same management co. Again, tells me this is a no-fee building and shows me an apartment that is available. I like the unit enough to apply for it - under the belief that it is a no-fee building. I return to building X the next day while visiting friends and inquire about any new potential availabilities: discover that there are in fact multiple units available that are in-house units, i.e., not shown to brokers. However, management co. will not cover the fee for these units obviously, since they are not shown to brokers to begin with. I also find out that the unit I already applied for in building Y is in fact a "No OP" unit - the management co. will NOT pay the fee. I now feel a bit mis-led by the broker, and ask building management co. to transfer my application from the "No OP" unit in building Y to an in-house unit in building X. In the end, I have been offered one of these in-house units in building X by the management co. but have not signed a lease, and now the broker has come chasing for his fee. I unfortunately did sign a contract that stipulates that the fee is owed in the event that I rent an apartment in an building that was shown to me by the broker. I do not feel comfortable signing the lease because I do appreciate the broker's help even though I was misled, and obviously understand that I am legally on the hook if I sign the lease. Any advice on dealing with this? Tried to reach out to the broker to discuss a compromise, but haven't heard back. I'm leaning towards just abandoning living in either of the buildings shown to me by the broker and learning my lesson about doing my research and being mindful of what I sign in the future. Thanks in advance. [less]
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My advice? Stop trolling!
Um, well did you ask to only see no-fee apartments (i.e. owner pays his fee), which he showed you? What do you expect? You chose to hire someone to perform a service for you, you signed a contract so you should honor it or continue working with the agent based on your agreement.
Don't sign these contracts!
You are asking for free legal advice here. Also note that nobody here has had an opportunity to review the contract you signed or knows whether what you said about the Broker making misrepresentations can be documented (txt, email) or is just your word against theirs. If it were me I would sign a lease with building X and in the highly unlikely event that the broker sues me hire an inexpensive lawyer and litigate it out. The Broker is likely inexperienced (new) and may actually feel bad and will let the matter drop, possibly for $ 500.00 good-will fee.