- there's more demand for good apartments than supply in NYC
- multifamily building owners outsource the process to brokers
- building owners can pay brokers less if brokers pass on overhead costs to renters
- brokers don't have leverage with building owners because the apartments sell themselves
- renters put up with this because there's more demand than supply
If you were here during the pandemic, when there was less demand than supply, you would have experienced a time when all those brokers' fees magically disappeared... and brokers were working harder than ever!
- there's more demand for good apartments than supply in NYC
- multifamily building owners outsource the process to brokers
- building owners can pay brokers less if brokers pass on overhead costs to renters
- brokers don't have leverage with building owners because the apartments sell themselves
- renters put up with this because there's more demand than supply
If you were here during the pandemic, when there was less demand than supply, you would have experienced a time when all those brokers' fees magically disappeared... and brokers were working harder than ever!