Real estate agents who don’t even go to showings are charging tenants thousands and thousands of dollars.
prospective renters
Even some brokers are disgusted. “There's a little more that goes into what I do than opening the door, but not enough to charge somebody two months rent [as] a broker's fee, I'll tell you that,” said Keyan Sanai, the top New York City rental agent at Douglas Elliman. “I will be the first to go on the record to say the entire notion of a broker’s fee is unfair and should be paid for by landlords,” said Ian Slater, a power agent at Compass. But he also argued that most renters only see “the tip of the iceberg” of the work brokers do. Managing a listing involves dealing with painters and contractors, insurance issues, and incessant calls and texts, he said.
In Sanai’s view, agents who lack experience and are trying to snag huge fees are doubly unreliable. “You have some schmuck on wheels trying to rent you an apartment they can’t even afford,” he said. In February 2020, broker fees for renters were briefly banned in New York, until a judge issued an injunction. Now, several lawmakers—including state Sen. Jabari Brisport and Assemblymember Zohran Mamdani—are trying again. Their bill would prevent landlords from forcing tenants to pay the fees, but it’s not clear whether it will receive a vote before the end of the current legislative session.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Real Estate Matters: Are you liable for the debts from a family member’s estate?My mom died several years ago. Do I need to pay her past due real estate property tax bills? Also, do I need to pay her income tax bills as well?
Read more »
Property insurance crisis disrupting Florida real estate market as buyers struggle to get policiesOne expert told us 56 property insurance companies were operating in Florida at the beginning of last year. But right now, only 47 are offering policies in the state and half of them are on what’s called a watch list because of their financial health.
Read more »
'Shark Tank' star Barbara Corcoran on Trump, real estate, AI, recession'Shark Tank' star Barbara Corcoran praises Donald Trump's selling skills, shrugs off recession fears, and warns of AI fallout in a new interview. Here are the 12 best quotes.
Read more »
Joanne Paulson: Saskatoon's industrial real estate in hot demand, short supplyLack of supply is forcing companies to buy old buildings, which they either rehabilitate or tear down preparatory to rebuilding.
Read more »
Former real estate professional Amy Siewe joins the fight against the growing python problem in FloridaPython huntress Amy Siewe discusses her life tracking down and skinning snakes in Florida after a 13-year career in real estate on 'Fox News Saturday Night.'
Read more »
HOA Homefront: Is your association government balanced?Four key interests are the association’s corporate, real estate, financial and community priorities.
Read more »