Broker Fees

Are you talking about rental or buying fees? Buying fees are no more than 6%,

jelj13, are you really confused by the OP's question?

No, there is never a reasonable case that it should be higher than 15%.
There are plenty of no-fee buildings you can find yourself with 0%.
And if you do hire a broker, you are paying for a service, not for a better apartment, so make sure you are comfortable with the value / fee tradeoff for your situation.

Some buildings can only be seen through the broker. The broker can also show you no fee buildings with a tenant paid fee that is mutually agreed upon. If you hire a good broker, you're paying to get into a building/apartment and also for the service of having someone coordinate appointments, relay your application and help you get approved. Some brokers can also give you a sense of the state of a building... that is a difficult state to quantify.

15% is the standard on a co-broke, meaning two agents (one for the renter, one for the landlord) are involved. When working with just one agent the standard is 12%. If you're loyal to the broker or know them well you can get the fee down to one months rent. I've done deals for return customers as low as 6%. Hope this helps.

Times have changed. Unless you're set on a particular firm/agent, fees are VERY negotiable.

Rentals can be < 1 mo fee and sales < 2%.

fieldchester - I think a two or three month fee for a rent stabilized apartment is pretty reasonable (if not cheap).

clarification - a 2 or 3 month fee for a stabilized unit that is renting below market levels.

Key money is illegal Jazzman.

Thanks! The original question was about rental (with a cobroke). With all of the no fee websites out there, it does not shock me that fees have come down a little. Though, I am surprised to hear that fees for buyers have come down. With so many people competing for the available places, I would have thought the value of a good agent would be as high as its ever been.