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Broker fee

Started by hp4310
almost 12 years ago
Posts: 0
Member since: Jan 2012
Discussion about
My husband and I have been looking for a rental apartment. We are not working with a broker on our end, I am finding listings on streeteasy and going to look by ourselves. Since we are largely looking at condos that are investment properties, there is almost always a broker on the landlord's end (ie we're not going to management companies for no fee apartments). I completely understand the need to pay a broker and am grateful that at each apartment a broker is there to walk us around, but if that is all the broker is doing, do you think there is room to negotiate down the 15% fee? If we had our own broker, wouldn't they have to split the fee anyway? Just trying to get a sense for what is reasonable. Thanks for your responses in advance.
Response by NYCREAgent
almost 12 years ago
Posts: 156
Member since: Sep 2010

Just like there's room on SE for yet another troll post on this topic, there's room for negotiation of the 15% fee.

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Response by akarpf
almost 12 years ago
Posts: 3
Member since: Mar 2013

Agreed. I would be happy to discuss this with you in more depth.

I am a real estate broker at Douglas Elliman, grew up in Manhattan and can help you find something.

Feel free to email me at akarpf@elliman.com so we can set up a time to chat.

Best Regards,
Ashley

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Response by huntersburg
almost 12 years ago
Posts: 11329
Member since: Nov 2010

why so angry NYCREAgent?

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Response by Realtyjack
almost 12 years ago
Posts: 9
Member since: Apr 2009

My recommendation is that you keep your focus on what is the more important issue - which is the rent itself. Negotiating the appropriate rent seems to be what is really missing in today's rental environment - and learning this skill can save you the cost of the broker's fee many times over during you tenancy there.

If the owner or broker you are dealing with does not want to negotiate the rent, find another apartment and another owner and broker.

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