Renting - Real Estate Commissions (rental, buyer, tenant)

[tjtv]

I have a question regarding real estate commissions on a rental in NJ. Often times you see "tenant to pay one month commission".

Assume that I do not use an agent to represent myself(the "buyer"), does that mean that I have to pay 1 full month's commission to the listing agent? What about if I do use an agent to represent me? Does the 1 month commission get split between my agent and the listing agent? Or am I liable to pay 2 full month's commission?

Thanks

[AntoinetteNJ]

The commission is always one month's rent...ONE MONTH ONLY! If you don't use an agent to represent you, the listing agent gets paid the entire one months rent as commission, minus what they pay out to their broker. If you do use an agent, she splits the one month's rent (as commission) with the listing agent. You should try to negotiate splitting the commission with the homeowner. Also, rents are negotiable, so offer less than they're asking.

Really, you should just get a buyer's agent to represent you since you're paying the same amount anyway. It's very easy to be taken advantage of in the wild world of real estate.

[gradstudent77]

I, personally, would never pay an agent to find me a rental. There are a whole lot of for rent by owner housing units out there.