Concessions lead to flare-ups between agents and renters

One might think that months of free rent and scarce broker’s fees — hallmarks of the current marketplace — would ease the notoriously fraught relationship between renters and real estate agents.

On the contrary, the ever-changing array of incentives is leading to confusion for renters and fueling flare-ups with brokers, experts say.

“It can be very confusing for clients, because landlords will change these offerings on a moment’s notice,” said Bruno Ricciotti, a principal at Bond New York Real Estate.

When an incentive changes unexpectedly, renters often think they are being scammed.

“Unfortunately, clients always think that brokers are deceptive,” said Marc Lewis, the president of Century 21 New York Metro, who has recently seen several disputes between clients and agents arising from misunderstandings about incentives. [more]