What does it mean when a rental listing online says “No Fee”? How does working with an agent affect the situation?
A “No Fee” listing means that you can go directly (without an agent) to the landlord / management company / exclusive agent who posted the listing and not have to pay a broker fee.
However, if you are using an agent and he/she takes you to a No Fee listing, then you would typically owe the agent a broker fee, since he/she introduced you to the property and is handling your transaction for you.
And in the case of a listing that does not have a “No Fee” designation, the exclusive listing agent typically requires the tenant to cover his/her broker fee and will split the fee with a “co-broker,” if another agent brings the tenant. However, everything can be negotiable (although not always guaranteed).
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