I'm not sure about NY, but in Connecticut, if you're renting an apartment and it's an MLS listed property, the landlord pays the brokers fee. If it's the same in NY then you should try and find a local Realtor and ask them to look for MLS listed apartments for you and start searching!
In my experience in the real estate trade, Iâ€™ve discovered that the consumer is best served by adopting some simple strategies, whether youâ€™re buying a home, selling one, or renting an apartment.
First: remember that real estate agents work on commission. The better quality agents---and those with the most experience---will be testing you from the initial contact to determine if youâ€™re serious and will commit to using their services. Why? Because real estate is like any other business; you donâ€™t sit at a table in a restaurant to read the menu without actually buying food at some point. Itâ€™s the same concept: the experienced real estate professional has to earn a living by renting apartments to serious and qualified prospective renters.
Therefore, the smart consumer should be well-prepared and committed to respecting the real estate professionalâ€™s time. Prepare yourself with three fundamentals: amenities, location, and price.
Know your requirements for the apartment you wish to rent in terms of amenities (one bedroom versus three bedrooms; elevator building or private house), location (proximity to public transportation or need for parking), and price. If you present yourself as well-prepared youâ€™ll have a better chance of working with an experienced agent who will work hard to find you the right apartment.
Second, start with the internet---especially TRULIA.com---but stay â€œlocal.â€ Donâ€™t think a real estate agent in Brooklyn can find you an apartment in Queens, or vice versa. Here on TRULIA.com you can easily find a local professional by clicking on â€œFIND an AGENTâ€ at the top of this page. There you can hone in on a seasoned professional in exactly the area where you wish to rent your apartment. TRULIA provides exceptional tools to help you as a consumer understand the quality of the professional youâ€™re working with. Read the agentâ€™s profile; check out the recommendations from previous clients; get to know the level of experience of the agent and the areas that agent covers.
Third, real estate agents are prevented by Federal regulations from answering certain types of questions. They cannot discuss schools or school districts, crime statistics, and a variety of other issues prohibited by Fair Housing regulations. If your agent is vague when you ask certain types of questions, now you know why.
Finally, demonstrate your level of seriousness to your real estate agent. Show up on time for your appointments to view apartments. If youâ€™re required to submit documents for the Landlord to review with your rental application, get them into your agentâ€™s hands pronto. Not only does this help you potentially get one step ahead of a competing renter, but youâ€™ll be viewed by the Landlord as a responsible renter. Landlords prefer responsible renters, donâ€™t they?
I hope that helps you improve the results of your search for an apartment, and helps you with a better quality experience.
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
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So what your saying is that these listing agents are charging their clients directly for a full commission, listing the properties on the mls, "intending" to cooperate with other agents per the standard listing agreement between agent/seller, I assume fabricating a split on the mls which will never occur...then having the tenant pay an additional half/month on the side?
mmmm I guess we all just handle our business differently.
Keller Williams Realty
Keller Williams Realty
Here in the Sound Shore Community , my area is New Ro -Port Chester, most agents do not charge a renter's fee for finding you a home UNLESS it is NOT on the Multiple Listing Service. This should be discussed in advance. Landlords on the MLS have signed an upfront agreement to pay the fee. They do so because they want to seriously advertize the rental and they also welcome the skills a professional realtor has in screening and processing the applicants. Then again, there are many vacancies where the landlord doesn't do much advertising and simply hopes a tenant will appear on their doorstep. In any case the fee is usually negotiable and only due if you rent something. in most cases even the landlords who are not on the mls are quite interested to pay the agent that brings a tenant to the table. If you are really strapped for great deal. Keep in mind that even if you agree to pay the realtor fee, so you can find the properties not on the mls, the agent helping you should be willing to approach the landlord for their part of the deal, which is usually 1/2 of what it would have cost them to list with an agent on the MLS. That's a deal for them since they are not p[aying the other 1/2 for the advertising, Also having agent representation is very important, we generally know particulars about the neighborhoods homes and buildings that rent. We may know of someone who previously rented with that landlord. We will also negotiate on your behalf, so you may end up paying thousands less in rent each year. This is why agents sometimes say "THE FEE IS WRAPPED UP IN THE TRANSACTION" One word of caution, a landlord that doesn't value their investment enough to deal with professionals in my mind ,should send up a red flag. Another words if they're frugal now I wonder how they'll be when you're in need of additional heat or have a repair that needs to be taken care of? My suggestion? Use an agent you feel you can trust, hone in on your mom instincts when viewing property and continue to ask a lot of questions before making a decision. Good Luck!