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January 23, 2007


Prospective Renter


Why is it that the prospective renter pays the realtor fee (usually one months rent)? Isn't the landlord hiring the realtor to find prospective renters?

It seems that renter is burdened with a fee that the landlord should be paying, since the landlord is the party that is being provided the service (credit check of prospective tenant, listing with realtor, ECT...).

I could never really figure this one out?

I recently was looking for an apartment in Whitestone and answered a listing by a local agency. It took the realtor literally 5 minutes to show me the place which I liked.

When it came to discussing the fees associated with the place, I was a little shocked to find that I was expected to pay a first month’s fee to the realtor which was $1500.00.

I mean $1500 dollars for five minutes work and a credit check really seems ridiculous. Ben Brafman, who is probably the best criminal defense lawyer in NYC, does not even charge that on an hourly basis

I would not have a problem paying a few hundred dollars if that’s what it took to process the agreement, but I felt like I was being shook down.

Needless to say, I did not rent the apartment and I will negotiate the hell out of the next realtor if I find something I like.

BTW, I am a landlords dream… I have great credit, a great job, and great references.

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