8 Truths About NYC Real Estate Brokers: Beware!
Eight important facts and ways to protect yourself.
5. Your broker is going behind your back.
Just because it’s listed at $5000 doesn’t mean you can’t offer $4300. The biggest thing holding you back from getting a good price is your own broker. If you told your broker you’d be willing to pay $5000, then guess what? They’re going to tell the other broker that and there’ll be no bargaining. Similarly, if your broker thinks you’ll end up renting something at $5000 in the next week, then it’s worth it for him/her to try to do that, since it means an extra $700+ in commissions. Remember: the more you spend, the more the broker makes.
6. Expect lies and cons.
Sad, but true. The industry promotes dishonesty. It also promotes seeming like the nicest, sweetest person you’ve ever met. How else can brokers compete with the tens of thousands of other NYC brokers just like them? They’re in sales. They want you to like them so you’ll trust them. They know they’re in competition with the twenty other brokers aggressively emailing and calling you once they heard you’re apartment hunting.