The Wonder of the NYC Broker

This is housing karma at its best. I found a roommate. A friend of a friend's friend is in my same program and she is actually IN New York looking for housing for us.

Of course little did I realize that finding a place isn't the biggest stress in the housing equation, but rather the exorbitant fees associated with finding an apartment. Most likely if I were to find something off the "apartments to share" section of Craig's List, then I'd have to pay first month's rent and a security deposit. Maybe even last month's rent if the person was especially anal. But since I'm trying to find a currently vacant 2-bedroom apartment, we have to go through a broker. This brokerage system is unlike anything I have ever witnessed. You, the apartment searcher, pay the broker 12%-15% of the entire year-long lease just to simply show you an apartment.

When the Scooby Snack (my boyfriend) was looking for a place, we just looked on Craig's List a bit and then wandered around a neighborhood he liked and wrote down phone numbers outside of apartment buildings. It was a delightful little activity that resulted in both a new apartment for him and an improved hangover for me (I swear, getting a little exercise really does the trick). The fact that I am forced to pay someone at least one month's rent to do this for me seems a little like robbery and a lot like a mosquito bite. It's so annoying to know that I'm throwing my money away.

But so it goes. My new roommate found a place. It was $50 above my price range, but she insists it's beautiful with new appliances, and it's a mere 8 blocks from class. I couldn't say no. The problem is that when the broker found her the place she said, "our broker fees range from 12%-15% but it's very negotiable."

However, once behind closed doors in her office, the broker changed her mind: "I can't go below 15%." I'm scrounging cash to pay for this broker fee, so the difference between paying $1800 and $1000 is huge for me right now. I told my new roomie that I couldn't do it. Lucky for us, right in the middle of the negotiation process, another broker who she's been working with called her, said he could show her the exact same apartment and would only charge her 12%.

These people are worse than used car salesmen.

Here is, more or less, how the conversation followed:
New Roomie: So, I don't think we're going to do it
Evil Broker: Why's that?
NR: Well I found another broker who will only charge me 12%.
EB: (Icy glare) YOU CAN'T DO THAT. I showed you the apartment. You can't go with another broker, because I'm the one that showed you the apartment. Did I mention that I showed you the apartment?
NR: Well. Um. Can't HE show me the apartment?
EB: NO! You are not understanding me. I could have made you sign a contract after I showed you the apartment that stated that you couldn't go through another broker to get the apartment. But I don't like to conduct business that way. I like to conduct business based on trust and good will.

(I swear to God, she actually said that last line with a straight face)

In the end EB's manager called her out of the meeting and when EB emerged, she dropped the broker's fee down to 12%. Victory is ours.