I just moved to NYC and in the process of looking for an apartment. I signed an agreement with one firm, and I believe it said that we cannot rent any of the units that he showed us with another broker. I willingly signed it because I honestly didn't expect to find an apartment we liked at that time. However, we did. Now, I've come to find that this apartment is listed with another agency as an... [more]
I just moved to NYC and in the process of looking for an apartment. I signed an agreement with one firm, and I believe it said that we cannot rent any of the units that he showed us with another broker. I willingly signed it because I honestly didn't expect to find an apartment we liked at that time. However, we did. Now, I've come to find that this apartment is listed with another agency as an exclusive, and no fee. I know we can't take this apartment since we did sign the agreement, but what about another apartment in that same building? It would save us $4000, which is a lot of money. I don't want to be shady, and to be honest, I'd probably send the first broker some money and a card thanking him for his help. I just don't know what to do. Am I stuck with this broker? Or can I continue searching? We did put in an application, but have not been approved yet.
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Response by uptown_joe
almost 10 years ago
Posts: 293
Member since: Dec 2011
What penalties does the agreement contemplate as compensation for a breach? Really the worst case here is the first broker finds out, sends you a demand for the fee, and you pay it (or settle, since they didn't literally show you the apartment you are now renting, and neither side feels its worth tangling up with attorneys).
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Response by hofo
almost 10 years ago
Posts: 453
Member since: Sep 2008
How can it be an exclusive and listed by two firms? Or are you saying the first broker works at the same firm? If it is no fee then the broker can't charge you since landlord is paying. Becareful since that broker maybe trying to collect landlord's fee and get another fee from you. I think that is illegal. I confronted a broker a few years back who tried to do that and reported to the manager. The manager told me I am not responsible for the fee and got the apt.
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What penalties does the agreement contemplate as compensation for a breach? Really the worst case here is the first broker finds out, sends you a demand for the fee, and you pay it (or settle, since they didn't literally show you the apartment you are now renting, and neither side feels its worth tangling up with attorneys).
How can it be an exclusive and listed by two firms? Or are you saying the first broker works at the same firm? If it is no fee then the broker can't charge you since landlord is paying. Becareful since that broker maybe trying to collect landlord's fee and get another fee from you. I think that is illegal. I confronted a broker a few years back who tried to do that and reported to the manager. The manager told me I am not responsible for the fee and got the apt.