PSA; Brokers are Scum you should skip them at every opportunity
They make their career by either screwing over their clients mostly or creating a corrupt network of buyers they try to get deals for. They add nothing to the value of any deal, are basically little more than telemarketing pests to private and institutional investors, and no one on the buy side trusts their lies anyway. We would trust an owner selling their own stuff 10 times more than a professional liar. They are the greasy car salesmen of the industry. Except they are even more unnecessary and take larger cuts;  pointless middlemen.

If they can screw you by selling you under market price just to build rapport with a bigger client they will. They literally exist to screw over everyone but the very richest real estate moguls they want to build their career around selling for.

You the owner can find the market price for your property using the same online data these useless twats do and they provide practically zero insight of any value. Say yourself several % point of your property's value and eradicate the corrupt breed of scum that are modern American Real Estate Brokers by abstaining from their services, ridiculous fees, and blatant corruption.
[{"id": "fcuzfyo", "text": "who hurt you bud?", "replies": [{"id": "fcv0smz", "text": "Can you show us on this floor plan where the bad man touched you?", "replies": [{"id": "fcv1n37", "text": "Sir this is a Wendy's.", "replies": [], "depth": 3}], "depth": 2}, {"id": "fcv2i8c", "text": "Sounds like an angry AM who approved a lower price, and the property retraded same year with a huge mark-up", "replies": [{"id": "fcv3g87", "text": "yea these complaints are usually a result of someone fucking up their own job then just blaming it on the KW commercial broker they decided to use", "replies": [{"id": "fcv4nu8", "text": "KW? Isn\u2019t that a residential brokerage??", "replies": [{"id": "fcv715m", "text": "They do commercial too", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fcuzoq3", "text": "I feel for your sentiment. I work for a large real estate development company and we avoid them as much as possible. We do leasing in-house and save $1M/year in fees. It's painful when some of our national tenants force us to pay realtor fees to \"their\" realtor because they have a policy of always using a realtor on every deal. For new tenants, fine, but $10k-$80k for a renewal - WTF?! We draft the document and they try to screw it up and waste our time. I've also heard that one of the reasons we have an office building with so much vacancy is that we don't pay bribes. Luckily, we are large enough to absorb this and keep plugging along without promoting their entitlement with stupid bribes. Not sure how to break this trend - there is a lot of money in this game and we all know money talks.", "replies": [{"id": "fcv1a56", "text": "Lease renewals does seem like a little much. \n\nAnd I agree with op to some extent. You have to find the good brokers who actually know the business and know who is buying/selling. Good brokers can put together proformas for you and validate the assumptions in OMs. A good broker can also be a quasi investment advisor in the sense of finding the right risk/reward for the buyer. Are you seeking IRR, YOC, COC, steer you away from bad/ undesirable properties or locations - especially if you\u2019re buying in a new market.\n\nThe thing that sucks is the brokers Absolutely do steer their clients away from buildings where they don\u2019t make their commissions.", "replies": [], "depth": 2}, {"id": "fcxysh5", "text": "You should amortize  the renewal fee into the tenant's rate.  I have done that a few times. Some of the nationals companies will go with it.", "replies": [{"id": "fcxzhcl", "text": "Interesting option. I've only been at the company for 2 years as CFO and have not yet focused on the leasing side of things because the owner was doing that. There is a lot to be desired about how we do things and how hard we push on rates and this is something I'll bring up in the near future. Thanks.", "replies": [], "depth": 3}], "depth": 2}, {"id": "fcxzcsj", "text": "&gt; and they try to screw it up\n\nWell presumably they aren't actively trying to \"screw it up\", they are trying to get better terms negotiated for their client.", "replies": [{"id": "fcy0ap0", "text": "They don't try - they just \"do\" lol... A lot of the time some guy in an office far, far away is trying to follow a template they have and combine it with our lease. They will take away some of our terms that was never negotiable and in the worst case they will take away terms that actually protect their client (and we most often add it back because we aren't a-holes). Oh, and don't even get me started about how long it takes for them to get back to us... usually months, sometimes a year (to the point where the client lost their ability to renew just recently).", "replies": [{"id": "fcy7u2j", "text": "I hear you, that is always annoying, often it's the distant attorney rewriting everything more than the broker. It definitely makes you enjoy those counterparties that are easy to work with. You'll always stretch to do a deal with them instead knowing the process will be so much smoother.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fcv1t52", "text": "lol.  sounds like you got fucked in the ass. \n\nbrokers are sometimes scum.  they get paid zero salary most of the time and they themselves get screwed left and right ALL the time.   \n\nbut for a lot of people brokers are a godsend.  \n\nI've saved tenants literally millions of dollars in long term lease negotiations.  \n\nsometimes they suck sometimes the clients suck", "replies": [{"id": "i6rifae", "text": "You are a fucking liar and a scumbag. You rip people off. You should be in jail for ripping off your tenants as a slumlord.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fcv4zmw", "text": "I STRONGLY disagree with you.\n\nMy credentials: I own about $300m in real estate across the north east.\n\nI exclusively use brokers to bring us tenants, to find us new debt, and to buy and sell properties. There are two main reasons why brokers are always worth it.\n\nFirst is access to information, whether it be market knowledge, or a larger pool of tenants/lenders/buyers. Information is power. They have access to tenants in the marketplace that a for rent sign will not bring. They know the trends in a way that we cannot see. I deal with my portfolio and brokers deal with the entire market. They can bring tenants that I wouldn't even know were in the market. They can bring me investment opportunities I didnt even have my eyes on.\n\nSecond is that they act as a buffer. When dealing with another party and we want to play rough with them we can play the good guy. Since the deal becomes a marriage with the tenant/lender/buyer, we want to stay in their good graces. We can instruct our broker to play hardball and then when it comes time to continue the relationship we can play innocent and act as if our broker was the one who was playing tough for us and went above and beyond what we instructed.\n\nI buy brokered deals often because the seller is a committed seller, and the broker's job is to make the seller realistic to the market realities. They also put together the entire due dilligence package that would waste a lot of our time. It makes it easier as a buyer.\n\nI will gladly pay a commission to a broker to utilize their expertise, knowledge, and access. By keeping my portfolio leased to the highest quality tenants, they bring down the cap rate  of our portfolio. By bringing us tenants we wouldnt know were out there, they increase our rent roll. By leveraging their lending relationships we get better debt terms. By knowing who the buyers are we get higher sale prices. And even if they dont increase cash flow, they ease our day to day management to free up our time and resources.", "replies": [{"id": "fcv8shq", "text": "placing some attractive debt all across the NE if you ever need a quote on anything!", "replies": [], "depth": 2}, {"id": "i6rid9q", "text": "You are PROVING that you are the epitome of a rich asshole without a conscience that the brokers seeks. You prove their point. You are a pathetic creep.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fcvp14q", "text": "In contrast to the guy above that personally owns $300m in real estate and loves brokers , I own less than $1m in commercial real estate and will go ahead and 100% agree that the brokers in my area are absolute scum, lazy, incompetent, and worth $0 in a deal. Not sure how the H they sleep at night and wake up ready to screw somebody everyday.", "replies": [{"id": "fcxzfl3", "text": "There are good brokers and bad ones, just like doctors or lawyers or anything else. If they are actually worth zero, then don't hire them. Doesn't that solve the problem?", "replies": [{"id": "fcy6h0d", "text": "It does! Not using one on next 2 deals. Off market is 100x easier.", "replies": [{"id": "fcy79ii", "text": "There you go.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fcwuwjp", "text": "OP is so butt hurt it\u2019s hilarious. Sounds like he didn\u2019t do his own diligence.", "replies": [{"id": "fcyq2ms", "text": "Yea the dumb ass brokers like you don\u2019t realize those comments by implication support what I\u2019m saying; they brokers exist to screw people over, provide no value, and are corrupt scum wads.\n\nBut I have in fact never lost a penny to broker scum because I never use brokers. As for how I know how total shit they are; I used to work for one and it was the most scum sucking job anyone could ever have. Greasy car salesmen are more respectable than any real estate broker.", "replies": [{"id": "fd840ht", "text": "in all seriousness, you wont get very far in the real estate game if this is your mentality and how you view brokers. Good brokers can add tremendous value to a deal, and expand your network tenfold. If you have a bad reputation in the brokerage community, you won't be seeing those great off market deals they find anymore.\n\nYou used to work for one and probably failed at it because from what I see you have a terrible attitude and are probably very antisocial and off putting to people. Maybe you are frustrated because you saw your old coworkers doing very well while you did not?", "replies": [{"id": "fda7guj", "text": "I like how you will never mention a serious way brokers add any value whatsoever to compensate for the % they want from a deal when the difficulty of their work should earn them nothing but Salary. \n\nBrokers add zero value in every deal. Your talk about off market deals is just the kind of corrupt Bs I was talking about. Yea you need to pay them more than they earn just so they give you the inside track to deals. But the implication is only that they are screwing over the seller, their client, by funneling deals to their preferred clients instead of actually trying to get the highest price from all potential buyers. They will BS their way around and lie about that reality. \n\nSo good job being typical broker sleeve who is too dumb to realize you just corroborated my allegations of corruption while failing to provide an explanation of any value added. For how to get off market deals without a broker; you just do what the broker was doing which is brain dead easy. You cold call building owners and ask them if they want to sell and see if any numbers interest them. And then you cut the broker sleeze out of the business 100%. Brokers as a profession are a joke job actual real estate moguls just give to their retarded brother or something and the real estate\u2019s industry\u2019s greasy car salesman but worse.\n\nBtw I learned more ways to actually add value my first 6 months working at a PE RE firm that I did in 2 years and at some scummy broker. I will never see a den of shittier sleezeballs or a worse place to work than a brokerage. Do nothing but be a pest and lie for a % you don\u2019t remotely deserve while doing nothing of actual value. Brokers in their current form should be exterminated; they should only get salary and honestly nothing but deleting their profession would get rid of the corrupt they breed.", "replies": [{"id": "fdatw28", "text": "Lol you crack me up bud. I\u2019m not gonna sit here and explain to you all the way brokers can add value. I\u2019m sure you actually are aware of that you just got hurt in some way (or are a failed broker) and you aren\u2019t good at controlling your emotions. \n\nI wish you luck in changing your mindset in business in general. You sound like a depressed creep right now. Godspeed", "replies": [{"id": "fdji3ur", "text": "&gt; I\u2019m not gonna sit here and explain to you all the way brokers can add value.\n\nYou couldn't and your pathetically diseased for even harboring the delusion you could. \n\n&gt;I\u2019m sure you actually are aware of that you just got hurt in some way\n\nHaving worked for a Broker and on the the buy side I am 100% aware you are corrupt worthless piece of shit who barely earns 25% what they get paid. There will never be anyone who persuasively argues otherwise. \n\n&gt;I wish you luck in changing your mindset in business in general. You sound like a depressed creep right now. Godspeed\n\nGet a load of you probably only gets laid when he pays for it. You sound like a greasy scum trying to distract from his profession being a bunch of cons and over paid morons who are legitimately worthless. \n\nYour numbers are shit. You can't even be trusted to copy/paste data from public resources.You make a list of buyers from online resources that take zero skill. You scum cold call investors with the offer which takes zero skill. To the point you are obnoxious shits and they don't even want to buy from you. Oh and you show the properties... like any moron could. You earn a % the fuck where you blood sucking parasite? There is not a single thing any broker does an owner could no do themselves... except where they screw themselves over to seel to a friend or regular client as a BS reduced price. \n\nNever at any stage do you do anything to add value even remotely or even something you couldn't hire someone with only a highschool degree to do just as well. Hell a retard NOT working a brokerage would probably get numbers for you more accurate than a retard AT the brokerage just because he isn't being told to lie.\n\nOh and as for why I hate brokers; because the absolute shittest most despicable ass wipes I have ever met, legitimately do NOTHING for what they get,  and the greatest open examples of corruption I ever saw in action.", "replies": [{"id": "fdjtr3s", "text": "Lololol. This should be a subreddit copypasta.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i6rih4l", "text": "You are a butt hurt trump supporter who can't get over being impotent because of your own racism.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fcxyucd", "text": "Sounds like you worked with a bad broker. Sorry to hear that. All the clients I've worked with have happily been repeat customers for years. Whatever they are paying me is a fraction of the value I've provided them. If you are not getting more value than you are paying to a broker, or can do a better job without them, then no you shouldn't hire them.", "replies": [], "depth": 1}]