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Bye-Bye Broker Fee

American Apartment Owners Association

The New York City Council approved new legislation on Wednesday that will eliminate hefty upfront broker fees for most renters. In New York City, unlike nearly every other place in the country, tenants are often forced to fork over a fee, on top of their rent, to a broker hired by the landlord before signing their new lease.

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What Is GCI (Gross Commission Income) In Real Estate?

Bay Property Management Group

Instead, they split it with their broker (the company they work for). These expenses can include broker splits, marketing costs, transaction fees, and other business-related costs. The split is based on a percentage theyve agreed upon beforehand. Lets say an agent sells a home for $450,000, and the agreed commission is 3%.

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6 steps to jump from property manager to property owner: Build your rental portfolio with confidence

Buildium

Relationships with lenders, brokers, contractors, and inspectors can make a big difference when you start investing. These are exactly the areas where new investors struggleand where you can excel immediately. Your professional network is another huge advantage. Think about the vendors you trust most.

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What is a Mortgage Broker?

BiggerPockets

Before a soon-to-be homeowner takes out a mortgage, they should understand what a mortgage broker is, the benefits of using one, and how to choose the best broker. This guide can help borrowers decide if using a mortgage broker is the right decision.

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What Is a Real Estate Broker?

BiggerPockets

A broker is an essential real estate partner. We'll explain what is a real estate broker and how they can help you land your next investment property.

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The hidden potential of rent roll analysis for property managers

Buildium

If you or one of your owners is looking to invest in new properties—or even sell a current property—a rent roll is used by investors, lenders, and mortgage brokers to assess the current and potential value of a multi-family property and to verify rent income. They’ll use it to determine both the current and potential value of the properties.

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Tenants in Big Cities Could Save Thousands if “Broker Fee” Reform Passes

BiggerPockets

New “broker fee” reform could help tenants save thousands of dollars when finding their next apartment or home to rent, but it could come at a significant cost to landlords. […]

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