Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New York City Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

65
Posts
38
Votes
Bin Chen
  • Investor
  • New York, NY
38
Votes |
65
Posts

Is it better to use an agent or list rental on your own in NYC

Bin Chen
  • Investor
  • New York, NY
Posted

I have been struggling with this question for a while now and am not sure what the best course of action is. There are pros and cons of both.

Pro of using a realtor:

In NYC the landlords generally doesn't pay the realtor 

Saves time answering calls/emails and showing the apartments

There is a $125-$199 fee per 2 weeks to list on streeteasy/zillow/trulia/hotpads.

Cons: 

They charge a fee to the tenants. From what I've seen its 1 month to 15%. For a $2,500 a month apartment that can be $2,500-$4,500. Potential tenants will most likely not want to pay this and opt to look at no fee listing only. 

At the end of the day the potential tenants are looking at total costs. If they can save a couple thousand upfront they might even opt to rent a place that's slightly more expensive just because its no fee.

Am I missing anything? Do the pros outweigh the cons? I would definitely go with a realtor if everyone else were also using realtors but there are a couple rental buildings in my area that lease internally so there are several no fee apartments in the area. 

Loading replies...