Agent2Agent in Brooklyn>Question Details

Jeanette Wil…, Real Estate Pro in Queens, NY

Hi does anyone have any experience with Rapid Realty in Brooklyn? Thinking of working with them and just want some feedback. Thanks.

Asked by Jeanette Wilson, Queens, NY Thu Mar 31, 2011

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18
DO NOT WORK WITH RAPID REALTY THIS IS A SCAM!!!!

They will show you "no fee" apartments, and then when you put down a deposit, they tell you the landlord has already rented the apartment and will drag their heels returning the money, with the hope that you will just go away. Do yourself a favor and don't even step foot inside any of their offices. This happened to me and it can happen to you too!
2 votes Thank Flag Link Fri Jun 14, 2013
I totally agree horror need help call or email me @ Exit Realty Top Properties an excellent company top notch ethical and efficient ! Patcalt.com
Flag Fri Jan 24, 2014
You're a moron.
Flag Thu Dec 5, 2013
Hi Jeanette,

I've worked with Rapid Realty for over a year, and I'd be more than happy to answer any questions you might have. I want to thank the other brokers and agents who responded, as it's always good to see the real estate community helping out one of their own, but I'd like to clear up a few misconceptions that have been raised here:

First, while we do provide unlicensed applicants with the education and training necessary for them to get their real estate licenses (free of charge, so no, that is most definitely not how Rapid makes its money), we are always more than happy to work with individuals who have prior real estate experience in New York or elsewhere. I can't speak to Barbara's friend's experience, but I personally know more than a dozen Rapid Realty agents who already had their licenses and had worked at other brokerages before joining Rapid.

Second, our commission structure begins at 25%, and bringing in deals can increase that up to 40% very quickly. Many agents hit 40% within their first month. And that's just for showing apartments - no listing, no closing. Agents who do choose to list and close can make an additional 20%, bringing them up to 60%. The commission split does not simply reset after a month, but rather it is based on average activity over time, so if you have a couple of really great months followed by one that's not so hot, you don't just lose everything you've earned.

Rapid has more than 40 offices throughout Brooklyn, the Bronx, Queens, Manhattan, and Long Island. The company started in Brooklyn and that's still where it has the majority of its offices, with two locations in Park Slope, as well as offices in Carroll Gardens, Fort Greene, Prospect Heights, Williamsburg, Sunset Park, Bay Ridge, Bensonhurst, Flatbush, Kensington, Bed-Stuy, and Bushwick, just to name a few. We're the biggest rental company in Brooklyn, with a major market share in every prime or up-and-coming neighborhood.

One of the things that most impressed me about working with Rapid is the sheer size of the inventory. Although each Rapid office is a separately owned franchise, they all share a common inventory, so that Bay Ridge agents can show apartments in Park Slope or Astoria and vice versa. We represent thousands and thousands of properties throughout New York City and Long Island. As a rental agent, I worked in South Park Slope but actually did the bulk of my business in Fort Greene, Clinton Hill, Carroll Gardens, Cobble Hill, and Boerum Hill.

What I've always appreciated about working with Rapid is that it's a "what you see is what you get" kind of place. From day one, they're up front about how commissions work and they stick to it. Some of the agents who joined Rapid around the same time told me some horror stories about working at other companies where agents stole clients and commissions from one another or where brokers cheated agents out of commissions. I've never seen anything like that at Rapid. There's a ton of support, a ton of training, and a clear commitment to treating every agent fairly and honestly. For me, it's really important to work for a company that acts like it cares about its agents and sees them as more than just walking money machines. That's one of the reasons that I've stuck with Rapid.

If you have any other questions about what it's like to work with Rapid, please don't hesitate to ask!
1 vote Thank Flag Link Thu Mar 31, 2011
Dear Jeanette:

I am not that familiar with Rapid Realty, however, my suggestion to you if you are a new agent would be to shop around with several different brokers before you make your decision. One of the biggest problems in the real estate industry is the lack of guidance and professional training. Wherever you go you want to make sure that you get proper training and support along with an arsenal of sales tools to help you. Ask lots questions so you can make an educated decision. If I can help you in any way feel free to contact me, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
1 vote Thank Flag Link Thu Mar 31, 2011
What neighborhoods of Brooklyn are you interested in? Rapid Realty has zero market share in Park Slope, Brooklyn Heights, Cobble Hill, Carroll Gardens, etc. They recently opened an office in Fort Greene, but other firms are already well-entrenched there, so they're not really a factor. In fact, I can't really think of a neighborhood in which they are a major player. What they are known for is lots of "no fee" ads that don't pan out, as told to me by several rental customers I've served after their having dealt with Rapid agents in various parts of Brooklyn. You should also consider that they are not REBNY members, and you will no longer have access to exclusives of REBNY firms. As wisely pointed out below, you are the key to your business, but associating yourself with a firm that has a poor reputation can hurt you. Good luck to you.
1 vote Thank Flag Link Thu Mar 31, 2011
Rapid sucks
Flag Sun Nov 24, 2013
I am a land lord for several propertys in brooklyn and Rapid Realty has been my rental company ive used for years ! they are awsome in what they do and they have taken over real estate in nyc . They have always got me well qulified tenats for all my apartments and i thank rapid for always being there for me 24/7! Rapid Realty is the only place ill trust with my investment .
Flag Sat Mar 24, 2012
Market share only means they have a lot of agents who are out there working the business.

People hire people...YOU are your business. If you are associating, make sure the company has a good reputation on the streets...a bad rep good hurt you.

We are expanding (have many business listings in Brooklyn) and would be happy to talk to you about representing us there.

Gail@GailGladstone.com 631-425-6150
Web Reference: http://gailgladstone.com
1 vote Thank Flag Link Thu Mar 31, 2011
Are you thinking of joining Rapid Realty as a franchisee? Because each Rapid Realty office is a franchise, they may operate differently. My next-door neighbor investigated working at two of them, one near me in Flatbush and the other in Bay Ridge. The Flatbush office was not interested in hiring her because she already has her salesperson's license (they also have a school in Manhattan, where they send unlicensed people to take the required licensing course; I think this is part of how they make their money). The Bay Ridge office explained to her that the initial split was 70/30, with 70% going to them; if you did more than four deals in one month, you could go up to 50/50, but then you'd go back to 70/30 at the start of the next month. This is by far the absolute worst commission split I have ever heard of. She said no thanks. But again, each office operates differently; quite honeslty, if you're thinking of joining as an associate broker I'd say you could do better. If you're going to be opening your own franchise that may be a different story. Good luck to you in either case.
1 vote Thank Flag Link Thu Mar 31, 2011
Horrible!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
0 votes Thank Flag Link Thu Aug 7, 2014
Save yourself-DON'T DEAL WITH THEM! RUN! I was just downloading form to make formal complaint. I gave them a months rent for deposit waiting for them to do credit check. My credit was approved then they increased by 300 dollars. Said they underestimated property value.
0 votes Thank Flag Link Tue May 13, 2014
hi Jeannette don't do it! I can tell you so e horror stories. Their reputation not so good, not ethical rio off clients. Take deposits etc. I can say with utmost confidence if you speak to me I work for a great company that has a sponsor program, I am affiliated with a branch of Exit Realty if you want to come into Queens, I have an office there. We have free training and a lot of support,
I have a seminar free with lunch at Dyker Golf Course on 30th,, if I sponsor you you can join my Queens office do you have your license yet? I need a rental filled in Flushing.. Can we talk? Call me
I'm a top Realtor in Exit and would love to sponsor you if you are interested. If you have a desire to make money and be in no great company call me or I can email you an invite for 1/30 11-2 call or email me,
Patcalt.com watch my video on. Sponsorship to give you more info
0 votes Thank Flag Link Fri Jan 24, 2014
So far I want to join this FREE TRAINING however....they ask you for a $100 DEPOSIT. Another rapid reality location had ask for $60. If anybody had completed this training please post here for more information.
0 votes Thank Flag Link Wed Jan 22, 2014
I am a new Agent and was looking up reviews of several companies and came across your question. I was wondering, you stated you worked with Rapid for a bit before returning to Eliman, what was your experience like? was it worth the trouble? I am also thinking of working for Rapid or Keller and I'm torn between the two. I dont want to waste my time or money, and while I like what Keller offers I'm a little worried about the cost though the commission split is appealing. As a new agent I thought it might be good to start out just showing but with Rapid, I was told it's a 50/50 split and since it's a newer office I worry about the training, whether it's any good.
0 votes Thank Flag Link Thu Jul 18, 2013
Thanks not sure why this popped up but i did work for them and now I'm back home at Douglas Elliman and very happy. Thanks for answering
0 votes Thank Flag Link Thu May 2, 2013
Jeanette, you should have your answer today. Is there any space on your body you'd like to use as a billboard?
0 votes Thank Flag Link Thu May 2, 2013
As a Williamm B. May franchisee and independent broker, I have to say I am biased, but I think their system is the best. I understand your fellings, Jeanette; I was in the same position as you two years ago. I looked into my options, and thought about Rutenberg (I have several friends who work there), but for me William B. May's business model made the most sense. And if you're going to be working in Brooklyn, the William B. May name has a strong presence. Check out their website, and feel free to e-mail me personally if you'd like more information. Good luck to you.
0 votes Thank Flag Link Thu Mar 31, 2011
Thanks Mitchell.. No i'm not a new agent.. I have been in the business for over 8 years. I think i have finally become frustrated but I'm not giving up.. I worked with some very large Brokerages and was just thinking maybe a smaller one would be more appealing at this time.
0 votes Thank Flag Link Thu Mar 31, 2011
wow.. this is great i appreciate all the responses. Its wonderful to have forum where you can get information like this.. Okay.. Now what do you guys thing about the 100% commission companies... (i.e. Charles Rutenburg, Keystone and i think Keller Williams)..
0 votes Thank Flag Link Thu Mar 31, 2011
I have worked at Rapid Realty, then joined a team at Douglas Elliman. About two years ago my team and I moved to Keller Williams. I am a huge fan of KW and am happy to talk to you more about all three companies.
Flag Fri Jan 24, 2014
Thanks. Were are you located at ? Are you in Brooklyn or Huntington?
0 votes Thank Flag Link Thu Mar 31, 2011
Thanks Barabara, I was thinking more along the lines as working with the company itself. But you are correct since each one is individually owned its up to the broker. I will investigate more closely.. I really want an office that has rentals and quite a bit of buildings under their belt. Which is why I was considering them. They seems to have the market share with the rental sections.
0 votes Thank Flag Link Thu Mar 31, 2011
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