New York real estate is a system. You have to learn the system to hack it.
A lot of real estate start ups are trying to "Avoid the Broker." The system isn't as broken as we may think. Landlords enjoy minimal vacancy. Brokers get paid generously. Tenants find apartments.
Complaining about a 15% broker fee is like complaining about the gas for your Lamborghini.
They are the "1-click" brokers. The experience doesn't mean that they aren't a part of a complex system. We usually applaud efficient systems don't we?
more significantly, the major NY brokerages have managed to keep a real MLS from forming. every other US market has multiple listing service, but in the city its been killed and any attempts (like VOW) have been effectively squashed. this is for sales. rentals are small change in comparison.
A lot of real estate start ups are trying to "Avoid the Broker." The system isn't as broken as we may think. Landlords enjoy minimal vacancy. Brokers get paid generously. Tenants find apartments.
Complaining about a 15% broker fee is like complaining about the gas for your Lamborghini.