Legal Question in Real Estate Law in New York

Real estate 100% commision

Is it illegal for a real estate agent to take 100% commision for finding you and apartment in new york city??


Asked on 5/11/04, 1:36 am

3 Answers from Attorneys
Arnold Nager Arnold H. Nager, Esquire

Re: Real estate 100% commision

I have heard of agents who either charge one month's rent or even 10% of the first year's rent on a one-year lease for finding an apartment. It is not illegal if you agree to it.

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Answered on 5/11/04, 6:46 pm
Debra Palazzo Law Offices of Debra Palazzo, LLC

Re: Real estate 100% commision

Most RE agents in NYC/southern Westchester charge a commission for finding you an apartment. They must be licensed and offer a disclosure statement for your signature identifying who they represent.

Most agents and their office split the fee according to their own internal agreement. I am not clear on what you mean by keeping 100% of commission. If you would like to Email me with clarification I would be glad to answer further.

Debra

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Answered on 5/11/04, 6:26 am
richard feldman richard d. feldman

Re: Real estate 100% commision

it definitely appears to be gouging. real estate licenses are governed by the state attorney general. e mail me or call 212 683 8677 to discuss

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Answered on 5/11/04, 11:05 am


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