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Laws Governing Brokers

Posted by Daniel McArdle on August 10, 1997 at 00:00:45:

Dear Tenant Net, Are there any laws regulating the ammount of fee a Broker can charge? I Spoke to one today and the apartment is in an ideal location, just steps off CPW and is stabilized at $999. per month. I expected to pay the usual fee of 15% the other brokers charge, but this guy said his fee was way above that and refused to specify, saying it would be negotaited at the time of rental. I almost fell for it, so I thought I would check first. It is obvious he is selling to the highest bidder which I think is detestable! Do you have any suggestions? I would appreciate anything. Thank You. P.S. He represents a well-known Real Estate company.

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