Real Estate Can Be Dangerous

While a 12%+ commission makes it hard for anyone to feel that sympathetic towards real estate agents, the market can be rough. For example, a real estate agent was showing a 30th floor apartment at 101 West End Avenue, only for the potential client to pull out a gun. The Post reports that the man told the agent to leave, and she then called the police, who found out his gun was a fake. The man was taken to Bellevue. The site at 101 West End Avenue used to have a NY Times printing plant; currently there are rentals and coprorate apartments available.

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By Jen Chung in News on April 7, 2006 9:10 AM

Comments [rss]

Eryximachus

12% of 1 year's rent is the standard rate for rental brokers (the building in question is a rental).

You occasionally find the rate as low as 8% (1 month fee) but that is rare.

smitty

Actually, being a real estate agent/broker is a dangerous job, especially if you are a woman. You go into an apartment by yourself with a complete stranger.

Joe Apology

I think the guy pulled a gun on the agent because of the 12% commission rate.

huh?

Jen,

Not sure where you're getting the 12% number from. I'm in the process of buying and selling apartments in NYC and all of the reputable brokers work on a 6% commission.

Anyone getting charged more than that to work with broker is getting ripped off.