Broker Misleading on Fees
Started by FPJ
over 7 years ago
Posts: 0
Member since: Sep 2018
Discussion about
I had been working with a broker to show me some rental properties. The guy is younger and very hungry and I Had previously found some NO Fee advertised properties. I figured if the building pays the fee then I might as well get this guy paid on someone else's dime if I can align it right. Big mistake, now he wants to be paid a half fee b/c apparently the building only gives a half fee if another... [more]
I had been working with a broker to show me some rental properties. The guy is younger and very hungry and I Had previously found some NO Fee advertised properties. I figured if the building pays the fee then I might as well get this guy paid on someone else's dime if I can align it right. Big mistake, now he wants to be paid a half fee b/c apparently the building only gives a half fee if another agent brings someone in. There's so info on here that explains that is how it often works. I feel like I've been hustled a bit either by this kid's lack of experience in seeing that this would happen. I also have no signed any agreements with him. Am I free to proceed forward directly with the building without fear of further down litigation? It's literally a case of me trying to do something nice for a self starter and then getting duped by of course my lack of understanding of how this really works. However it would have been more honest of this broker to explain I'd likely be on the hook for the half fee if I involved him. [less]