how much to pay RE agent to check in on contractor

Question

I just recently closed on my first out of state purchase which needs a little rehab. My real estate agent agreed to be my eyes on the ground to help me check on the progress of the contractor's work. My question is what's a reasonable amount to pay my agent to do this?

Nathan Gesner · Answer

Have you asked your REALTOR? That is an obvious place to start. Figure out how much time it will take for each visit, the complexity of what you're asking them to do, then negotiate something you both think is fair. If they're driving over, taking pictures, and then emailing you and it takes less than an hour, I think $30 - $50 is sufficient. If the drive is longer or you're asking them to do something more complicated, then negotiate accordingly. If they're being compensated by the sale of the home later on, pay them less up front.

Doug Todd · Answer

It depends. As a Realtor and property manager, I tend to do these things often at no charge as I'm making a commission on the sale of a property and management fees/commissions once the property is rented.

That being said, I do have a clause in my property management agreements that states I'll do extraordinary hourly work at a pre-specified price ($45/hour for example).

Since you're out of town, I'd ask the contractor to text photos as work is completed.

how much to pay RE agent to check in on contractor

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