Rental season is bearing down upon us like a coal train with no brakes. With rents so high, everyone wants to pay less to have an apartment in the city. Are avoiding broker fees the way to go? YES – if you can take over someone’s lease directly or sublet them. If you’re looking to start a new lease, you may be surprised. Advertising the same apartment as No Fee means you can charge more for it. See my analysis to decide what is right for you!
Over 90% of rental and sale deals in Manhattan involve at least one broker. Brokers and agents are licensed real estate professionals, and thus are suited (legally) to handle the marketing and processing of each transaction. Not every agent is a joy to work with – we on the Blumstein Team feel the side effects of this everyday as we hear sob stories and have to pick up the pieces of somebody else’s mess. But none the less like any other professional, there are many reasons our job is necessary. And as it is a professional service, someone must end up paying for all the time and effort that goes into becoming a market savvy agent and helping ease people’s real estate pains.
SALES
However, who pays for the services varies. In sales, the owner of the apartment almost always pays the broker a percentage of the sale price…
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This Braswellian Life 
Posted on March 24, 2014
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