Negotiating Broker's fee for apartment rental?

Can it be done?

We really tried so hard to find something on our own through Craigslist with no fee and eventually wound up finding something yesterday that was perfect, but the listing on CL was through a realtor. The realtor gave us the address and we made an appt. to see the apt for 10 am. The couple who owns the house showed us around at 10:10 when they saw us sitting out front in the car. The realtor didn't show up until 11 am. By then we had already decided we loved the place and that the couple who owned the house were really nice.

Now I have to give this realtor, who we met as we passed in the driveway because we had to leave by the time she got there, $1,500?!

Is there a way to negotiate this fee at all?

Re: Negotiating Broker's fee for apartment rental?

You can definitely try. I know I would. Do you know if there are any other ppl interested in the apt or how long it's been on the market? That may give you some leverage in negotiating.

Just remember that you wouldn't have found the apt. if not for the broker. Good luck!

Re: Negotiating Broker's fee for apartment rental?

I did a couple of times -- a realtor was going to charge 10% of the annual rent and they agreed to one month instead. It's not much but still a savings.

Re: Negotiating Broker's fee for apartment rental?

Thanks.... yeah, we are trying...

We found one that was no broker's fee, but 2 mos. security up front.... and one that is broker fee + 1 mos. security up front.... so they wind up being the same amount of money....the idea of literally throwing $1,500 away irks me, especially with the wedding... so I'm leaning towards the no broker, 2 mos. sec. dep. one even though it means more of a commute for me...

Re: Negotiating Broker's fee for apartment rental?

or you could ask the owner to pay all or part of the commission to get you in there

Re: Negotiating Broker's fee for apartment rental?

I used to be a realtor and as far as rentals went, as long as the landlord was willing to, they can rent it on their own. In the contract that they signed, there is usually some kind of clause there that states that if the property is rented by the homeower and not the agent, there is no brokers fee. But, there is a gray area though, if it was the agents listing advertisement then you might be stuck, or if the landlord is going with an agent for a purpose. (ie; background checks, employment verification, credit checks) You can ask the landlord if they are willing to go outside the agent. But that is all you can do.