Discount Firm Deals in Rentals

Discount brokerage firms that offer to sell homes for a reduced commission or a flat fee have been around for several years. Now, the discounters are branching out into apartment buildings and other types of investment properties.

West Los Angeles-based Apartment Clearing House has launched a program in which apartment owners can sell their properties for a 2% commission, compared to the 5% to 6% commission most apartment sellers pay. Even smaller commissions can be charged on apartments worth more than $1.5 million, or if the seller has a relatively small amount of equity.

Norman Litter, owner of the firm, said he plans to eventually offer discount single-family home, condo and leasing programs as well.