I closed my first deal last week, a rental. In New York City, rentals are for newbies, since you can make so much more doing sales, but they are also prized for their quick payout. A typical rental fee is 15 percent of a year's rental, split between the listing agent and the agent who brings in the tenant. My firm takes the majority of our split (in their defense, the splits are better on sales) but on a "starter" Manhattan apartment an agent is still looking at pocketing $900. So when I got a call on my cell phone from a potential renter, I did what we've been exhorted to at Real Estate Connect: I responded instantly. She'd been recommended to me by my first renter, so I was thrilled that word-of-mouth was starting, and determined to execute this one perfectly. No sophomore slump for me....
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