Blog: Wall Streeters Try to Bilk Broker out of Commission

Want a high-end rental in the Hamptons but don't want to shell out a broker's fee? You could look for broker-less listings — or you could enlist a broker, then screw him out of his commission.

At least, that's what two men tried to do recently before being called out by a Southampton attorney, according to hamptonsmarketwire.com.

The real estate blog states that the men — one works as an attorney for a Wall Street investment bank and the other is a portfolio manager for a real estate hedge fund — contacted Rosehip Partners in East Hampton to find a Hamptons rental they could use as a summer share house.

After spending a Saturday afternoon showing the men seven potential rentals, the real estate agent got a call from a Southampton attorney the following morning who said the men left behind two notes at one of the homes, trying to cut the broker out of the deal, according to the blog.

The first note, left on the kitchen counter, stated that they wanted to rent directly from the owner, and the second, slipped under the front door, explicitly said "no brokers/agents" and "ALL-CASH," hamptonsmarketwire.com reports.

The blog says the agent stood to lose $3,000 by being cut out of the deal.

Read the post at hamptonsmarketwire.com.