Hacker News new | ask | show | jobs
by infinotize 3592 days ago
NYC broker fee problem will really take a generation until the existing stakeholders literally die out. The deeply entrenched real estate industry here has no incentive to change. Not all, but many (most?) no-fee apartments are new construction "luxury" buildings (luxury == not 30+ years old) that handle leasings themselves, and always have very high rents.

Edit: You _can_ find other no-fee aparments but it will in general severely restrict your choices; the odds of looking for an apartment by normal criteria (location, size, condition, amenities, price, etc) and stumbling on a no-fee listing are low.

2 comments

Many no-fee listings aren't really no-fee. It's just that the fee is baked into the rent. I found this out when scoping out places with Nooklyn, a Brooklyn-based broker. The landlord in one instance revealed a rent that was a good deal lower than the one quoted by Nooklyn. Of course, you're rarely able to bypass the broker in this manner.
I can confirm, though I managed to snag a no-fee apartment for a good price. That said, I'm all the way in Sunset Park, Brooklyn (which I really like, but doesn't seem to be popular yet).