Recently, the New York Times’ Vivian Toy wrote an article Agents of Angst about unethical real estate agents – an article full of hair-raising stories about agents who withheld crucial information, actively misled their clients, didn’t keep their promises, poached other agents’ clients, and generally contributed to the public’s poor opinion of our industry. (According to the article, a recent poll ranking occupations by prestige placed real estate brokers at the very bottom of a list of 23 professions.)

The next week, Steven Spinola, the president of the Real Estate Board of New York, sent a letter to the editor defending the industry’s reputation, saying,
read more…

No Comments »

Here is a question I received from a renter a few days ago: If a broker has shown me an apartment that is generally a no-fee apartment, how soon after he shows it to me may I go directly to the apartment to rent it on my own? In other words, how long does a broker have rights to a fee after he shows an apartment?

Good grief. There is a general perception that real estate agents are untrustworthy. Unfortunately, many consumers take advantage of agents, also.

Here was my response to this renter: Some brokers work by having you (the renter) sign an agreement, so you should check that agreement. In any case, personally, I think you have a moral obligation to pay the broker a commission. Would you like it if one of your clients tried to end run you? If you think for some reason the broker did not earn his commission, talk to him or his manager.

No Comments »