Could you give me 10 reasons or more, why it's better to us a broker and pay a broker fee when finding apartments to rent?

Asked by Linda Childs, NY, Sun May 12, 2013

Also my I use the article on my FB page as a few out of state and NYC clients have questioned WHY they should pay a fee and want "NO FEE" apt. Thanks so much.

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Mitchell Hall, Agent, New York, NY
Sun May 12, 2013
You need to place a value on what you offer as an agent. It comes with experience and training. You should start by completing your profile and putting up your picture if you want to be seen as a professional and taken seriously by consumers.

"NO FEE" can mean different things but in the end most decent apartments in NYC have a fee. The best apartments are listed with brokers. The broker gets paid. Either the landlord or tenant pays the broker.

In a tight market like we're in, the tenant pays. There is no benefit to a landlord not to use a broker. They get the broker's services for free since the tenant pays.

So even if the renter looks on their own most will end up paying the listing agent the broker fee. If they have their own tenant's broker representing them, they still pay the fee but the listing agent splits the fee with tenant's broker and the the tenant has the benefit of someone doing all the work and looking out for their best interests.

Look out the "NO FEE" listings in Craigslist. Most are either scams or bait and switch listed by unethical brokers, some are open listings, but in the end there is a usually always a broker fee.
3 votes
Michael Cheng, Agent, San Jose, CA
Sun May 12, 2013
Sounds like you need to come up with some reasons that are relevant for you and your clients.
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3 votes
Joseph Hasti…, Agent, Bayside, NY
Sun May 12, 2013
Linda, I do agree with Mitchell. If I may add my two cents, as a new agent, you would do well to ask this of your principal broker or office manager. It's alright to be unaware of something but the office you work with should be your first stop for questions. Not a public forum. I'm sure they offer training for new agents. Good luck.
2 votes
Mack McCoy, Agent, Seattle, WA
Mon May 13, 2013
If I may paraphrase Michael and Mitchell . . . tell your own story to the public. Not ours or theirs.

Your objective should be to write an article about why YOU think it's better to use a broker. Or a list of reasons as to why YOU think it's better to use a broker. Basically, use your voice to talk to people and entice them into hiring you to provide real estate services to them.

All the best,
1 vote
irene henry, Agent, New York, NY
Sun May 12, 2013
I'm not sure you need 10 reasons. Some people have to take the journey first. All I have to say is CRAIGSLIST?.
1 vote
Anthony Howe…, , Brooklyn, NY
Thu Jun 13, 2013
There of course will always be a need for an efficient broker. The tools and information we have can save valuable time and expenses that you will most likely have to add on top of your broker fee when you see how much of a hassle renting alone can be.
0 votes
Bobby Neil, Agent, New York, NY
Fri May 17, 2013
Let's see:
1) An experienced broker will most likely save you time. What's your time worth?
2) An experienced broker will negotiate on your behalf and save you Money.
3) An experienced broker has quality relationships with landlords and other agents and will find things not listed.
4) An experienced broker will find you what you want and has access to resources that are up to date.
5) An experienced broker will listen to you, and read your mind and come up with things that you would have never thought of.
6) An experienced broker will stick with you through thick and thin, sickness and in health.
7) An experienced broker knows which listings really will take your dog.
8) An experienced broker will get your dog in even if it is 10 pounds beyond the weight limit.
9) If your move date changes an experienced broker will keep you up to date on changes that are not public knowledge.
10) an experienced broker, will look after your best interest even after they have cashed the commission check.
11) Don't ever use an inexperienced agent/broker... they are learning on your dime..
12) If you are renting, an experienced broker will be there for you when it's time to move or time to buy.

I was in the entertainment business in NYC for many years and went without using a broker a long time. It was only after I got married and my time became valuable that I used a Broker. I was so happy with the results, I became an agent myself.
0 votes
Ryan OConnor, , New York, NY
Sun May 12, 2013
It's as simple as saying how much do you value your time. An sometimes a no fee apartment can make you more money in the long run.
0 votes
Bianca Ferra…, Agent, Riverdale, NY
Sun May 12, 2013
1.Qualifying the Prospective Tenant for the Owner
2.Knowledge of locations as it relates to your needs, wants and desires
3.Resources utilizing every channel available (DE has their own Rental Dept.) with screened Apartments.
4.Research- Identifying a list of apartments for viewing
5.Time involved in coordinating schedules and appointments to view
6.Availability of rentals- Calling and re-calling, apartments go fast, there are a lot of people looking
7.Connections among the brokerage community- Knowing when an apartment is going to hit the market so you can get their first.
8.Managing the transaction and the funds- making sure your money is in the right hands and that their is a secure lease agreement
9.Scams- Exist all over - We guard you from walking down that path
10.Safety- Going to view apartments through want ads can be risky business.

I am not a rental agent, but all agents work very hard to satisfy, that's what we do for a living that is why we get paid.
0 votes
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