Broker fee for a rental.

I just completed a rental search in Boston 99% of the apartments had a 1 month broker fee. In my case this was $6,000 I negotiated it because it seems pretty ridiculous to me and was able to drop it in half. My friend who is a rental broker explained it to me when I asked what value he provided for a fee. He laughed and explained it’s very little.

So I have this idea that the tenants act as the broker for showings and a virtual negotiation on the searching party’s behalf is done through the platform with the landlord.

My questions are, am I right in assuming that a rental broker is legit doing nothing. If anything they are getting run around by searching parties but in the grand scheme they are something that could be easily eliminated if the searching party was given access to schedule a showing through tenants and the landlord was able to be contacted without a gatekeeper broker.

Are there laws and regulations that require a broker?

submitted by /u/BiznessBob
[link] [comments]

I just completed a rental search in Boston 99% of the apartments had a 1 month broker fee. In my case this was $6,000 I negotiated it because it seems pretty ridiculous to me and was able to drop it in half. My friend who is a rental broker explained it to me when I asked what value he provided for a fee. He laughed and explained it’s very little. So I have this idea that the tenants act as the broker for showings and a virtual negotiation on the searching party’s behalf is done through the platform with the landlord. My questions are, am I right in assuming that a rental broker is legit doing nothing. If anything they are getting run around by searching parties but in the grand scheme they are something that could be easily eliminated if the searching party was given access to schedule a showing through tenants and the landlord was able to be contacted without a gatekeeper broker. Are there laws and regulations that require a broker? submitted by /u/BiznessBob [link] [comments]

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