by Zemi Beach
Question by Crystal: is realestate business hopeful in NYC for a new agent?
I am very interested in working and living in NY next year. I will be getting a realestate license as well, in order to be a agent. My only question really is, is NYC and/or the 5 bouroughs hopeful…Will I make enough money or will I get slick agents who will constantly not want to pay me any commission? Any suggestions or tips would be great thanks!
Answer by magicbird
From what I understand, it may be a little cutthroat. My son lives in Manhattan and my daughter in Brooklyn. My son and his wife in Manhattan had to get a broker to help him and his wife get a place to live, and it was costly–they had to pay the broker a full month’s rent upfront, along with deposit and first month’s rent–but perhaps that’s because the renter had to pay the REA, rather than the landlord, because rents in Manhattan are such high demand that the landlords know the renters will pay a broker (except during the slump at the beginning of the housing crisis–my son didn’t bother with a broker that time around). Don’t know for sure. But my daughter and her boyfriend found it easy to go outside of a REA to rent a place by going through Craigslist, so neither my daughter nor the Brooklyn landlord bothered with a REA.
But regarding whether or not you would get a commission from the REAgency or Landlord, it would be a matter of contract with them, wouldn’t it? So if they signed that with you, I don’t think you would have a problem getting paid.
What do you think? Answer below!