The Real Deal New York

From the February issue: While the residential market has clearly taken a hit across the board in New York City, there are two very divergent commission situations brewing on the sales and rental sides of the market. Although many sales brokers are seeing their commission percentages increase on each transaction, rental agents have not been quite as lucky. In fact, with rents falling and landlords trying to attract new tenants with any tactic they can dream up, rental brokers have been watching their profits shrink. Part of the problem is that landlords have begun to shell out rental brokers’ commissions to take the financial burden away from the prospective tenants they’re wooing. The landlords are themselves cash-strapped, so brokers who work in rentals are being forced to accept smaller-than-typical fees.