The Boston apartment crush is coming. Hordes of college kids, working stiffs and otherwise are getting hungry for new housing, eager to gobble up this summer's choice apartments with reckless and freakishly fast abandon. Inventory is low, we're well aware, but the need remains the same. You want a new apartment? Get in line. Everybody wants a new apartment.
It's not so hopeless as that, though. Rental brokers tend to get a bad wrap, but their knowledge of the market and literal keys to your apartment dreams are often a necessary evil. Also, lots of them aren't evil at all. I know a bunch who are downright awesome.
The trick is finding a rental broker you trust who has your best interest at heart. Sure, there are a bunch of options out there when looking for new digs, but pinpointing a broker you like now will pay dividends for years to come.
To help you on your way, I chatted with three local experts for tips, tricks and red flags when it comes to choosing a broker: Dinny Herron, sales director at the residences at W Boston; MGS Group broker and creative muscle behind Back Bay Charm, Erin Barry; and Gloria LoCurto of Warren Residential.
Do I have to use a broker?
Certainly not. As I've said, there are alternatives out there. But brokers exist for a reason: they understand the market at any given moment better than a computer algorithm ever could.
"If you want your apartment search to be as smooth and stress-free as possible, then always use a broker. You can leave all of the hours of sifting through Craigslist and arranging showings of apartments that end up being a waste of time behind," said LoCurto. "A broker uses their market knowledge and resources to find you the best apartment possible in the shortest amount of time, while always keeping your best interest in mind."
That sounds glorious, but how do you find said magical broker? You ...
Phone a friend
You wouldn't throw down on a hundred-dollar dinner without checking some reviews first, would you? Same holds for finding a broker. Get a referral from somebody you know already and trust.
"The best way to find a broker in my opinion is by word of mouth," said Herron. "Ask your friends, colleagues, etc. who they have used and if they would refer that broker."
"The best way to find a broker is by asking your friends or colleagues if they've worked with any real estate agents in the past that they would highly recommend," LoCurto echoed. "If they had a good experience, then chances are you will too. If that's not an option, then browse websites like Trulia, Zillow or Yelp, where you can see an agent's profile and past client reviews."
This will save you a ton of time. And contrary to popular belief, you don't need to consult a million different brokers to ensure you're seeing all the market has to offer.
"For the most part, brokers across the city will have access to similar inventory – so reaching out to a handful of brokers and setting up showings all over town can be counterproductive," said Barry.
Think of a broker like a friend
None of the brokers I spoke with said this in so many words, but the fact remains: This person is responsible for your future housing happiness. That's a serious charge, and you're likely to spend a lot of time in their presence. You should enjoy their company. This doesn't mean you should want to grab drinks with them after it's all over, but wouldn't it be nice if you did?
"Listen to your gut. If the broker gives you a bad vibe, move on!" Barry offered. "You should always feel comfortable and feel they have your best interest in mind."
Grill them early
Starting any relationship begins with niceties to ensure you're compatible. In kindergarten, it was whether the new kid on the playground was into playing in the dirt. College bonds are often forged over mutual respect of lite beer and Robert Frost poems.
Picking a broker should be similar. Fire a couple questions at them early; if you like their answers, things are looking up.
"There are a lot of 'con artist' agents who only have one agenda on their mind and that is to take your money and move on to the next . A broker should always be willing to answer your questions, whether they be about the market or the rental process," LoCurto told me. "I always want my clients to feel comfortable with every step of the process and if there's something they don't understand, I always encourage questions because to me, their overall experience is important."
That's the type of broker you should be looking for.
Responsiveness is key
OK, so you've decided going with a broker is right for you, asked around until you got a couple names, then started a dialogue to see who you think you'll go with. Good for you, you take direction well. But how do you narrow down the field? Know the red flags early.
"If a broker does not follow up, that's not a good sign," Herron said. It's a chaotic profession, no question, but if you don't feel like you're high on their priority list, it's probably because you're not. "If a broker is not responsive or doesn't answer questions regarding the listing in a timely manner, that's also not a good sign."
A little loyalty goes a long way
Finding a broker you like is akin to finding your go-to barber, dry cleaner or delivery restaurant -- it's a symbiotic relationship that will serve you well for years to come. And like anything, loyalty counts.
"It's a good idea to stay loyal to a broker you trust but if you don't feel you are getting the service you deserve then you are not obligated to continue working with them," LoCurto said.
Paying a month's rent as a broker's fee can feel like a steep price, but this person has put in a lot of time to get you to this point. It's tough to fault a broker for losing interest if she knows you're shopping around. Give your broker a chance to prove himself; if he earns it, return the favor.
