Screening a NYC Rentals Real Estate Agent: How to Ensure They're Legitimate

Unfortunately, real estate transactions occur in such rapid time it is hard to build trust before signing key documents.  As a result, people can make bad decisions.  Fortunately, there are resources in place to help protect the consumer... if only consumers fully knew them.  

Here are some of the key concepts you need to be aware of to make your home hunt safe and successful...

• Be aware that if someone other than the landlord is collecting money from you on behalf of a real estate transaction, they likely need to be licensed by the State (DOL) and have to state their affiliated brokerage and license status on all literature (business cards, advertisement, website, etc.)   There should be no question who the person you're dealing with is, how to check their license status and who their sponsoring brokerage is.
• Real Estate agents are supposed to provide you with a disclosure form that informs you who they represent (for example, you or the landlord.)   These should be given to you at "first substantial contact."  This is important, because it effects the way they are required to deal with you.   For example, which interest come first:  filling up the landlord's unoccupied apartment or matching you up with the best unoccupied apartment relative to your needs. 
• Some real estate agents are affiliated with brokerages that are affiliated with local or national real estate boards, and some are members.   This adds an extra layer of dispute resolution.   In my case, I'm a member of a brokerage affiliated with REBNY (The Real Estate Board of New York) and am a dues paying member.   I must adhere to their code of ethics at the expense of fines or losing my membership.  (Note that Real Estate Agents in NYC are not "realtors".  A Realtor is a person who's a member of the National Association of Realtors.  Our real estate board, REBNY, withdrew from NAR, hence the NYC equivalent of a REALTOR would be a NYS licensed real estate professional who is a member of the Real Estate Board of NY.
• Aside from the DOL and REBNY, there are multiple State and Federal Agents which field consumer fraud complaints.   (One is the Attorney General of the State of NYC.)  Be aware of alerts and advisories on their websites.   For example, NO REAL ESTATE AGENT should ask you to wire money directly.  Money always goes through the brokerage.   And be wary of broker's trying to scam you into writing checks in a variety of ways.  If you can't look up the agent's brokerage and license and the person is calling themselves a broker or "realator", it's likely a scam.
• Not all brokerages are the same.  Try your best to get a "vibe" as to what you're dealing with and do your research.