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If you negotiated the documents yourselves, why were any broker involved ?

• rejschaap 10y ago
  For my first appartment I used a broker as well. At the end of the process I discovered their added value was less than 0. Disregarding their fee, I paid too much for the appartement and they encouraged the high price, because they just wanted to close and receive their fee. When I bought my next house I did not use a broker. That's just the way things go, you live and learn. People are more and more selling without a broker as well, or at least they start to use cheaper brokers where you only buy the service you need.
• JumpCrisscross 10y ago
  Most apartments in New York City have a broker involved somewhere. In this case, the building owner had a sell-side broker. A condition for renting the building was paying the building owner's fee, directly to the broker, and while simultaneously absolving the broker of any responsibility to me, the paying party, over the building owner, the technical client.
  • madeofpalk 10y ago
    The whole NYC real estate brokers thing is completely fucked. The whole thing is a scam.
  • johnchristopher 10y ago
    Ah, I see. What's in it for the building owner then ?
• koolba 10y ago
  > If you negotiated the documents yourselves, why were any broker involved ? It's a scamola with a similar racket being Ticketmaster's "convenience fees". Most apartments in NYC will require going through their broker who collects a fee (usually a percentage of the first years rent). A chunk of that fee ends up being a kickback to the owner of the apartment. Ticketmaster does the same thing with venues (tack on $15 fee, give the venue $7.50).