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Rental Management

The End of the Convertible Flex-2?

One of the greatest economies of scale phenomenon Manhattan renters utilize each year is the convertible 1BR, aka the convertible flex-2.  While an individual renter looking for a nice Midtown or downtown studio will pay $1800-$2200, a pair of renters looking...

Landlords Experimenting with Incentive Reductions

Goldfarb announced today that starting next week, they will stop paying OPs (broker fees). Along with the Brodsky "1M free or 1M OP" policy and steady incentive reductions from Stonehenge, this latest news significantly reduces the no fee luxury...

Understanding Brokerage Commission Models

Every real estate brokerage wants to differentiate themselves from the competition. The heads of any firm will tout their unique dedication to excellent customer service, their high integrity and moral standards, their hard work ethics, and their innovative operations....

Undercover Broker: How Newbie Agents Add Value

The average Manhattan apartment rental commission is about $2,000 per transaction.  Hard as it is to believe, that's a fairly efficient price.  The barrier to entry to become a licensed real estate agent is 75 hours, $400, and two...

Apartment Brokers and Head Hunters

A Manhattan apartment broker is a middle man.  However, despite all the sleazy stereotypes, many grounded in truth, the best middlemen add tremendous value. Sadly, mediocre brokers add little or no value, and a handful of bad brokers reach...

Nothing wrong with paying a fee

Over the past month, we've had a lot of users come to us looking for only "no-fee" apartments. However, after speaking with them, we realized there was a misconception of the whole fee/no-fee concept. Today, I'm going to write...