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How do I find a good broker in NYC?
Steven James, CEO of Douglas Elliman New York City, recommends the best way to find a broker is to decide which neighborhood you want to be in and then decide how much you want to spend. After that, James recommends doing an online search and find properties that interest you and see which agents list those properties.
Do I need a broker to buy an apartment in NYC?
You can buy a home without a real estate agent or broker, but it’s probably better that you hire one, especially considering the highly competitive market in New York. Your broker will help you secure the best possible deal, and can assist you in bargaining for concessions.
Do all NYC apartments have broker fees?
Many renters seeking to move in New York City have to pay up to 15 percent of an annual lease to brokers — regardless of whether they helped find the apartment. After a legal battle, the state affirmed this week that broker fees were legal.
What is an apartment broker?
In a nutshell, an apartment broker is a type of real estate broker who acts as the middleman between prospective tenants and property owners or management companies of rental properties.
How much are brokers fees?
Realtors and real estate brokers typically charge around 5\% to 6\% of the selling price of a house. 2 This is often split between the seller’s agent and the buyer’s agent. Some discount real estate brokerages may charge a lower rate or instead offer a fixed-fee service.
Who is the best broker in New York?
Corcoran took the No. 1 spot on the sales ranking, with $5.8 billion in closed sales in Manhattan, Brooklyn and Queens. Though sales fell 26 percent from 2019, the brokerage was able to beat out its two biggest rivals. Compass, which is on the verge of going public, claimed the No.
Is it worth getting a broker in NYC?
They act as a middleman between renters and landlords. Brokers are not essential for rental buildings that have in-house leasing offices. But they can be invaluable if you want to cast a wide net with someone who intimately knows a particular area.
What is a broker Fee NYC?
The typical broker fee in New York City is anywhere from one month (equivalent to 8.33\% of annual rent) up to 15\% of the annual rent. The amount of the rental broker fee and who pays it for a specific listing depends on what has been negotiated between the landlord and the listing broker.
How do you avoid broker fees?
To avoid them, look for:
- Brokers that offer commission-free trading, including TD Ameritrade, Charles Schwab, E-Trade, Interactive Brokers and Robinhood.
- Limited-time promotions.
- Commission-free ETFs.
How do I get around a broker fee?
Ask the agent if they charge broker’s fees Another way to avoid paying broker’s fees is to ask a broker outright if there are any fees for their services (and take your business elsewhere if you don’t want to pay fees). Across the United States, brokers must disclose if they’re charging fees to the end-user.