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Next, You Should Pass A Resolution Condemning The Practice

Using its limited resources wisely, the City Council confirms what anyone who has ever rented an apartment quickly realizes — no-fee listings are a scam:

Beware online ads promising the perfect rental apartment with no broker fee – nearly one-third of them are lying, a City Council report revealed yesterday.

The Council’s Oversight and Investigations Committee recently contacted 223 real estate agents who advertised “no fee” apartments on two popular online Web sites: craigslist.org and backpage.com.

The investigators discovered that 31% of the so-called “no fee” apartments did, in fact, have broker fees.

“There’s no place in this city for deceptive and misleading sales practices,” said Councilman Eric Gioia (D-Queens), the committee’s chairman, during a news conference at City Hall.

“We need to make sure that — however it is that you’re searching for an apartment — the deal you’re getting is an honest one,” Gioia said.

Posted: October 27th, 2006 | Filed under: Grandstanding, Real Estate
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