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Rental Management

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...

Undercover Broker: Farming for Customers and Commissions

This is the second edition of Undercover Broker, where we share interesting insights into the mysterious life and career track of a Manhattan apartment broker.  The first edition discussed the myths and truths of broker bait and switch tactics,...

Where Do They Get the Apartment Prices From?

How do most landlords determine their apartment prices? While we don't come from the property management side, we've noticed a couple of trends in how landlords price apartments. Generally, landlords seem to fall into four types (though realistically, there...

Undercover Broker: Bait and Switch In Depth

As one of the founders of RentHop, I've made it a point to infiltrate the Manhattan apartment broker ranks, inspired by Nickel and Dimed (Barbara Ehrenreich). I spend a few days each month as an undercover broker, tackling the...