Hi: There are many different options & it depends on which one you are & who you want to motivate to act. Choice #1: Are you the landlord? Anxious to find a tenant? Want to motivate the brokerage community to help you? Longer lease term better? Then you should pay the broker's commission & list your property on the MLS in addition to the other methods you're using to try & find a tenant. In addition, rather than offering 1 month's rent as commission (split between the listing agent & the tenant's agent), you should offer 8.3% (the equivalent of 1 month's rent), split 4.15% to each agent. This will motivate the agents to push the lease term. Choice #2: Are you the tenant? If you are motivated to find an apartment (i.e. need one right away), you may want to hire an agent to work for you & agree to pay him a fee to find you a place. Not motivated? Then you can probably find one where the landlord will pay the fee. For commercial rentals, the commissions are usually different & fluctuate as a percentage per year durign the lease term & the tenants pay less frequently. You can see more information on our website: http://www.GrandLuxRealty.com.
Or call me with any questions: 914-273-9688. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty. BTW, we're looking for more agents & offer a 70% commission split. If you know anybody who might be interested, I'll pay you up to $1,000 each for your agent recruits.