Hey WSO,
I'm trying to find an apartment to move into NYC(hudson yards, chelsea etc) in April/May, and reached out to a broker. Never rented from NYC before, but was told that broker's fees are like ~15% and they want their contract to be "exclusive"- i.e. I cannot reach out to other brokers as well.
Is this crazy, or is this one of those, "welcome to NYC" things?
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Welcome to NYC
My recommendation is don’t use a broker. Unless you are looking for something pretty specific, very high end, or privately owned condos (which I actually prefer) they are usually not worth it.
StreetEasy has most listings, but know that if you find something, as the renter you are usually still on the hook for a fee. Good thing is: 1) you have more negotiating room if you don’t have a broker and 2) you can filter listings to “no fee” (where if you had a broker they would still take a fee).
Start your search there, and if you are having trouble then use a broker. Brokers can be helpful if you are completely lost on the areas, etc but sounds like you roughly know where you want to be.
Agree mostly with above, except IMO you don’t need a broker at all in NYC. If you’re knowledgeable about what you want & are realistic about $$ then you can get it on your own. I know from firsthand experience that brokers just grab listings from StreetEasy + Zillow then send em to you. You can just do that yourself and not pay a fee. Management companies are happy to deal directly with the renter because it’s one less party in the transaction, which means less issues and money being saved.
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