Can brokers and management companies operate out of the same building with the same phone number?
It's not unusual for management companies to wear two hats, that of managing agent of the property and that of broker. Managing companies frequently augment their management fees, which tend to be modest, with broker commissions. In fact, management companies expect and depend on this income and view it as part of their compensation package. Fees are charges to the tenant if the apartment is leased and to the owner if the apartment is sold. As long as the management company is properly licensed as a broker by the New York Secretary of State, the arrangement is entirely legal.