Entrepreneur Bootstrapping Business Idea – Become an Apartment Finder or Broker

People rent apartments in every city in the country. As an apartment finder, you will be hired by the person looking to rent. They will pay you a fee for finding them a place with certain specifications and you will make appointments.

The success of this position will vary depending on where you live. The bigger the city, the more chance you have for success. In New York, it is almost a necessity to have an apartment broker, and they get thousands of dollars for finding them.

You may also get referral fees from the apartment buildings themselves. There are multiple ways that you can organize this business, but you will need a steady stream of people to make it worthwhile.

You may get referrals from other states that are looking to relocate and for that  you will need a high quality website that explains the entire process and tells people who you are and how they will be treated. Your website should contain a customer survey that the person can fill out, listing their wants, location, and price range. This way you will not need to interview each person on the phone and waste valuable time.

You can create a niche for yourself, renting only to students, the affluent, or just relocations. Once the rental agreement has been signed, you get paid and the living situation is no longer your problem. It will be between the tenant and landlord at that point. However, it will be critical that you do not recommend bad landlords to people, or you will lose your credibility.

You will need to know who to ask for all of their inside information. Try to be the first one to find out when an apartment opens up, so that you can create a name for yourself. Keep an updated mailing list, since you will know where all of you clients live and how long their rental agreements are. When it get to be 3 months form the end, start marketing them with reminder emails, asking if they want to move somewhere else.

Hiring A Commercial Real Estate Broker For Leasing Office Space

It may seem like an arduous undertaking to consider renting office space for your business, especially if you have never done anything like it before. There are so many different listings available on the market, and they all very in leasing costs; all of this can be too much to handle.

Apart from the issue of considering all the available units, you must first figure out exactly what it is that your business needs, in terms of office space. All of this can be very overwhelming, as you attempt to find the best office space location for your business.

The thing to keep in mind is that you need not face all of these problems, as you try to find the most ideal location for your business. You can do this by seeking the professional help of a commercial real estate broker.

These commercial real estate brokers do their job just like real estate agents. The only difference is that brokers focus more on doing business with buyers of commercial space, as well as owners.

Commercial real estate brokers also work just like brokers, in that they serve to aid those that need help in locating the best office space for their business, given their budget range and conditions. These brokers are equipped with lengthy lists of owners of commercial space, and they are sure to help you discover at least two prospects that meet your requirements and budget range.

In doing business with a commercial real estate broker, keep in mind that you must be forthright about your budget range and conditions, and see to it that you enumerate everything that you want and need for your business’s office space. In doing this, you will be helping your broker help you locate the best units.

Request your broker for about three options, and ask him or her if he or she could set up a viewing schedule for these locations, and perhaps your broker can even arrange an appointment with the owners. Being able to see the units firsthand and talking about matters of concern with the owners should be able to guide you in singling out the best unit for your business.

As expected, it does not cost very little to afford the services of a commercial real estate broker. On the other hand, having the advice of a professional in these types of circumstances will be sure to alleviate you of stresses, as well as aid you in better transacting with owners.

Things to Know Before Negotiating For an NYC Apartment

With the scarcity and the prices of apartments in New York what they are, it’s hardly surprising that rent is sky-high. But times are hard, and every little bit of scrimping and saving counts. If you find that the NYC apartment you’re considering dents your wallet just a little too much, you may just be able to fix that with a little negotiation and a whole lot of people skills.

Should You Negotiate?

Yes, you should negotiate by all means possible. Although rents in the entire New York City area might seem too high and immovable, it’s actually possible for you to negotiate rates with the broker. You won’t lose anything by it, and many brokers are willing to talk about lowering rent or negotiating other fees just to make the deal.

NYC Apartment Negotiation 101

Do your homework before going out to meet the real estate broker. Know the average rent for different areas, for example. It’s going to be a lot easier to negotiate and discuss terms when the broker sees that you know what you’re talking about and that you mean business. The broker has to see that you’re a serious client, and that you’re the kind of person who might just give him or her a deal at the end of the day.

There are two types of listings on the New York real estate market – open and closed listings. An open listing means that several brokers are racing to close the deal for a certain place, while a closed one means that only that broker has the rights to deal that spot. Open listings will be a lot easier for you to negotiate because the broker is in a hurry to close the deal and thus get his or her commission.

In the same vein, you could possibly lower the rent or other fees by giving the broker a sense of urgency. For example, give a figure for the rent that you’re willing to pay, and then offer to get the NYC apartment right then and there if the broker could give you that rate. It’s take-it-or-leave-it-now offers like those that get a lot of New Yorkers their apartments for less than they originally planned.

Factors That Can Affect Negotiation

Brokers look at certain factors that might make one more willing or more reluctant to negotiate terms with you. Your credit rating and financial standing would obviously be the biggest factor. The condition of your finances is directly proportional to your worth as a buyer or tenant. If you happen to have a good credit rating and a healthy sum of money in the bank, consider it an advantage (and don’t forget to point it out).

Having your paperwork ready could also make the broker more amenable to striking a deal. Ready paperwork and supporting documents means that the broker could process the deal quicker and thus get commission sooner. That’s usually motivation enough for brokers to lower rent or other fees for ready and eager NYC Apartments seekers like you.