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New to the forum and to New York. Had a hopefully quick question and let me apologize ahead of time it seems like there's a obvious answer to this. It's just I've heard two different stories about this topic and I'm curious to get other opinions.
A family friend mentioned that brokers on Craigslist should not be charging any broker's fee. I'm inclined to believe her, as after all, the broker didn't really do any work, I did the legwork and came across the apartment.
Obviously of course, Craigslist has their own w/ fee section for apartments.
However, I found something on the NYC Rent Guidelines Board webpage that seems to backup this friends claim.
Quote:
A real estate broker can charge a broker's fee for finding you an apartment. The amount of this fee is not set by law. In order to charge the fee the broker MUST actually find you an apartment.
I'm all for paying a broker if I actually contacted one first and asked him/her to help me find a place, but with Craigslist, they didn't really do anything.
All I know is I found my apartment on Craigslist and I paid the broker a fee. Although he didn't technically "find" us the apartment he guided us through the approval process and was the go-between between us and the LL, so its not like he didn't do anything at all.
I don't know the technical legality of the situation (others could guide you better), but it's very common, so be prepared.
New to the forum and to New York. Had a hopefully quick question and let me apologize ahead of time it seems like there's a obvious answer to this. It's just I've heard two different stories about this topic and I'm curious to get other opinions.
A family friend mentioned that brokers on Craigslist should not be charging any broker's fee. I'm inclined to believe her, as after all, the broker didn't really do any work, I did the legwork and came across the apartment.
Obviously of course, Craigslist has their own w/ fee section for apartments.
However, I found something on the NYC Rent Guidelines Board webpage that seems to backup this friends claim.
I'm all for paying a broker if I actually contacted one first and asked him/her to help me find a place, but with Craigslist, they didn't really do anything.
Thoughts?
Thanks!
Don't be silly.In most instances you "came across" the ad for the apartment only because the broker placed the ad.If the broker had never placed the ad you would never have known about the apartment.So it's kind of lame to claim they did nothing and you found the apartment all by yourself.
Many brokers have exclusive agreements with respect to apartments, so there is no way to get into the unit without paying the fee. Some buildings on-site managers/owners who may deal directly with the public, but many want the broker to screen any potential candidates, which is why they are retained, in addition to marketing the units for rent.
If you do not want to pay a fee, go with a management company that accepts its own applications through onsite/central leasing office, or speak with the building's superintendent about potential apartments that are available within the building.
CL is just another source to advertise, though if you are finding brokers representing themselves in the "by owner" section, I believe you can flag that ad for removal/review as being against CL's terms of advertising.
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The last time I looked for a rental I just filtered out the fee apartments. I found a number of small buildings where the landlord preferred to work directly with prospective tenants. I think most of the larger buildings work with brokers. The last rental I had I dealt directly with the landlord. It's harder, but well worth the effort to avoid the ridiculous fees that brokers charge here. It really is a racket.
I have a different opinion if the broker actually provides some value--such as taking down your requirements and matching you with buildings as well as helping you with paperwork. However, most just show you an apartment *you* found and expect $5,000.
Of course brokers charge a fee. How do you think they make a living?
Now, sometimes brokers have "no fee" apartments - which means the fee is being paid by the landlord, instead of you.
You can look in the "no fee" section. If you don't want to deal with a broker, you can also look in the "owner" section." Either way, please make a point of flagging any ad in the wrong place - such as ads in the "owner" section that are obviously posted by a broker.
Of course brokers charge a fee. How do you think they make a living?
Now, sometimes brokers have "no fee" apartments - which means the fee is being paid by the landlord, instead of you.
You can look in the "no fee" section. If you don't want to deal with a broker, you can also look in the "owner" section." Either way, please make a point of flagging any ad in the wrong place - such as ads in the "owner" section that are obviously posted by a broker.
There are alot of broker ads in the owner section of CL. These stupid brokers do it on purpose to avoid paying the $10 posting fee for each ad since CL doesn't charge owners to post in the owner section.
Let me be clear, I have no problem with broker's charging for their services and my thoughts on when they can charge for their services is exactly the same as barkomatic's. I don't mind paying a broker if they put in the time and energy to understanding my needs in a apartment, making a effort to look at all the possibile openings and taking me to see those apartments.
however in the case of Cragistlist, I just find it very upsetting that broker's are expecting $1000+ for pretty much just showing you a place. It's just a darn shame that no one seems to be regulating this.
Anyways, thanks everyone for the suggestions of how to look on Cragislist, I am aware of those options and am also flagging posts that seem scammy or dishonest, in fact I met one broker today that very sneakily placed her ad in the no-fee section. When I got to the place, out came the paper work saying I'd be paying a fee.
Let me be clear, I have no problem with broker's charging for their services and my thoughts on when they can charge for their services is exactly the same as barkomatic's. I don't mind paying a broker if they put in the time and energy to understanding my needs in a apartment, making a effort to look at all the possibile openings and taking me to see those apartments.
however in the case of Cragistlist, I just find it very upsetting that broker's are expecting $1000+ for pretty much just showing you a place. It's just a darn shame that no one seems to be regulating this.
Anyways, thanks everyone for the suggestions of how to look on Cragislist, I am aware of those options and am also flagging posts that seem scammy or dishonest, in fact I met one broker today that very sneakily placed her ad in the no-fee section. When I got to the place, out came the paper work saying I'd be paying a fee.
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