Rental Basics in New York>Question Details

renter2428929, Renter in New York, NY

What are some issues which wold void the standard 15% broker fee agreement (rental). ex) broker license, lying about move-in dates?

Asked by renter2428929, New York, NY Thu Aug 15, 2013

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Please...first, there is no such thing as "the standard 15% broker fee...." Fees are negotiable but I suppose you didn't try that. A real estate license can be asked for and shown on demand. If you don't see one, move on. If you stay, thinking you can get a great deal, then you deserve to get shortchanged. Nobody lies about move-in dates especially if the apartment is currently rented. Owners can say one thing one day something else the next. The current renters can stay until the last day of the month and they all do. A landlord may want to clean, fix or re-paint prior to anyone else taking posession of a rental apt. This is where timing issues occur. Owners don't usually tell brokers because they want a renter on deck. Read Ryan's comments. I will add one thing...there are NOT lots of apartments out there. Once you add your criteria for location, bedrooms, sunlight, amenities, schools, transportation, price, etc. the availablity will dwindle.

If you're looking for excuses so you can snake out of paying a brokers fee, why don't you find something by yourself? Oh, can't.
1 vote Thank Flag Link Sun Aug 18, 2013
Which ones did you have in mind, 2428929?
1 vote Thank Flag Link Fri Aug 16, 2013
If the agent was misleading contact his/her broker owner and or, office manager to discuss the situation. Depending on the scope of the issue/moneys involved, consult with an attorney who specializes in real estate...
1 vote Thank Flag Link Fri Aug 16, 2013
If you feel the agent lied you should talk with the firms principal broker.

1 vote Thank Flag Link Fri Aug 16, 2013
Check your agreement with the agent. What does your agreement--the one you signed, the one you agreed to--say will void the agreement?

By the way, Joseph is correct: There's no standard agreement. Maybe you agreed to a 15% fee, but that's no more standard than anything else that can be negotiated...and virtually everything can be.

Hope that helps.
0 votes Thank Flag Link Sun Aug 18, 2013
Don Tepper, Real Estate Pro in Burke, VA
The biggest problem I see in the rental market today is miss information btw sales agents and actual brokers. A lot of times the sales agent are given a list by a broker that might have left out things like date the apt is avabilbe, up dated price, if the management or if the client pays the fee and so on. So it's not always the sales person fault. More lack of information but if you feel slighted you should move on. There are lots of apartments out there and plenty of brokers with all the info needed. Please give me a call if need further help.

Ryan OConnor
0 votes Thank Flag Link Fri Aug 16, 2013
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