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The Apartment Search: When to Recruit a Real Estate Broker
by Courtney Ronan
![]() Corporate relocations are hardly glamorous. Often, employees are told of their impending transfer during the 11th hour. While companies often help pay for transfers and some even help employees find their next apartments, just as many don't -- and that leaves transferring employees in a sea of worry, particularly when they're headed to cities with which they're completely unfamiliar. Time is of the essence, so you've got two options in this scenario: Take the first opportunity that comes along (meaning mediocre, and probably for a rent higher than what you wanted to pay); or call a real estate broker. Many renters have never considered going this route, although many brokers don't even charge you for the privilege of using their knowledge and their services. And by the way, if any broker requires that you pay him up front, check his reputation. If he's well-respected in the business, then it's probably worth the financial risk. If nobody's heard of him, go elsewhere, and find someone who receives his commission from the landlords with whom he conducts business. Leah and Elina Furman, Chicago-based authors of "The Everything After College Book," advise renters to be prepared before using the services of any real estate broker. Some suggested tips: Write down what you consider to be your "must haves" before you meet with any broker. Include the desired location (make it specific if you can), the amount of rent you wish to pay within a range, square footage, desired parking layout, security system, washer or dryer, pets or no pets, and any other amenity about which you feel adamant. Let the broker do the homework of finding those properties that match your criteria. Once the broker gets back to you with a list, ask that he fax you all of those listings, along with photos when available. Then narrow down your list, so that you'll save time both for yourself and for your broker. The Furmans strongly recommend using the services of more than one broker. See how many listings each broker provides you, and consider to what extent they respect your desired criteria. For example, some brokers may try to talk you into paying higher rent for a not-so-wonderful apartment. While most brokers are extremely helpful and consider their clients' preferences and budgetary constraints to be sacred, you'd be well-advised to watch out for the common tactics of the lemons out there. The authors list a few:
Arm yourself with information; it's your best defense. And so is a referral -- from a friend or co-worker. Do a little comparison shopping, then sit back and let those brokers do the legwork -- so you can stick to the mindwork involved in relocating to a new city for a new position. Published: July 13, 1998 Use of this article without permission is a violation of federal copyright laws. |
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30 Year Fixed: 3.83% 15 Year Fixed: 3.05% 1 Year Adj: 2.73% (U.S. Weekly Averages) Today's Headlines 07/13/1998
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