Is It Worth Hiring My Own Broker Now?

When paying a broker fee still makes financial sense

Luxury searches where exclusive access to off-market listings matters more than upfront costs.

Corporate relocations where your company covers the broker fee anyway.

Out-of-state moves where you need local expertise and can't make multiple trips to NYC.

What's changed about the value proposition?

Broker fees typically added up to 12-15% of annual rent with no cap under New York law. That's still expensive when you're paying it yourself.

You now have a real choice instead of being forced to pay regardless of whether you wanted broker services.

How to hire a broker the right way

Get the payment arrangement in writing before viewing any apartments.

Negotiate fees based on your specific needs rather than accepting standard rates.

Consider consultation-only services rather than full representation if you just need market guidance.

Make sure you're genuinely hiring them, not just working with someone else's broker.