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Old 11-29-2010, 09:57 PM
Location: Boston
12 posts, read 34,955 times
Reputation: 12


Search the MLS as well.
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Old 11-29-2010, 10:06 PM
Location: Boston
12 posts, read 34,955 times
Reputation: 12
Originally Posted by Lefleur View Post

The pitfalls of my first search was that I didn't realize there are (sometimes) financial incentives for brokers to get tenants signed to certain buildings/management companies/etc. - even when the broker is "working for you!" For example, I was brand new to the city, didn't really have a clue about the rental stock in metro Boston, and basically just knew I wanted something in a particular neighborhood with particular specs (1 bedroom) within my defined budget. My "broker" showed me a few listings (which I later learned were all owned by own particular rental company -- he wasn't affiliated with this company, but they pay out "bonuses" and other financial fees to brokers who have a tenant sign with them), meaning I didn't realize there were a whole lot of other apartments out there up for grabs. He also told me that the price wasn't negotiable (his payment bonus from the company depended on how much rent the tenant he brought in paid), when I much later learned that the rent was entirely negotiable AND I could have probably swung a particular discount because of a few other factors that I won't get into now. Yes I know -- I was naive and should have done better research.
I'm sorry this happened to you. The agent's actions, though legal unless you had an agreement that he represented you, were quite unethical. Using an agent isn't a bad thing, nor are fee rentals, but I can say as an agent myself I would steer a client toward rentals where the landlord pays the fee. I just feel they should pay it as I'm bring them a paying -and screened- customer!
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