Having to pay the real estate fee is such a grey area and you don't have to pay it in certain circumstances. If you see an apartment on a website and call up the agent to arrange a viewing, the first thing I ask to be confirmed is that the agent is acting on behalf of the landlord. I then state that I'm not engaging you exclusively as my agent. In these cases the landlord is liable to pay the total commission, whether it's split between a single agent or 2 agents if co-broked, you don't have to pay.Nath21 wrote:
Also if you sign a one year contract you split the real estate fee (1 months) over 3,500 per month I think contracts and for two year contracts over 3,500 the landlord pays. Make sure this is clearly stated or you could be end up bearing costs you should not have too;
The contract should state you get 30 days to bring to attention of the landlord any defects (can include blown lights anything) and I mean bring to the attention everything you can find because this in conjucntion with the handover condition assessment is your starting point and the most important document with the handback condition assessment;
If you want o be really safe take pictures and note model numbers and brands for applicances.
That is very good advice! Quick question - if you view a property that you find and tell the agent you are not engaging them exclusively can you then bring in your own agent to hammer out the details (TA/LOI...etc)? Or are you just going to make the landlord's agent mad that they aren't getting the whole commission and they'll then screw it up for you...Saint wrote: Having to pay the real estate fee is such a grey area and you don't have to pay it in certain circumstances. If you see an apartment on a website and call up the agent to arrange a viewing, the first thing I ask to be confirmed is that the agent is acting on behalf of the landlord. I then state that I'm not engaging you exclusively as my agent. In these cases the landlord is liable to pay the total commission, whether it's split between a single agent or 2 agents if co-broked, you don't have to pay.
You have to be careful that the broker doesn't try and suggest he/she shows you other appartments as you've then engaged the agent exclusively.
So in short, I will not see more than 1 property per agent and I will confirm prior to viewing that the agent is acting for the landlord.
In theory if you bring in your own agent to hammer out the details, you would have to pay your agent. The Landlord's agent isn't likely going to agree to co-broke.cbavasi wrote:That is very good advice! Quick question - if you view a property that you find and tell the agent you are not engaging them exclusively can you then bring in your own agent to hammer out the details (TA/LOI...etc)? Or are you just going to make the landlord's agent mad that they aren't getting the whole commission and they'll then screw it up for you...Saint wrote: Having to pay the real estate fee is such a grey area and you don't have to pay it in certain circumstances. If you see an apartment on a website and call up the agent to arrange a viewing, the first thing I ask to be confirmed is that the agent is acting on behalf of the landlord. I then state that I'm not engaging you exclusively as my agent. In these cases the landlord is liable to pay the total commission, whether it's split between a single agent or 2 agents if co-broked, you don't have to pay.
You have to be careful that the broker doesn't try and suggest he/she shows you other appartments as you've then engaged the agent exclusively.
So in short, I will not see more than 1 property per agent and I will confirm prior to viewing that the agent is acting for the landlord.
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