I've just listed my first rental property on my own, without a listing agent. I've completed all the duties of a listing agent - marketing, setting up showings, background checks, etc. If I select a tenant that came to us through their real estate agent, how much would I be expected to pay them?
Why would you use an agent for that? I use Postlets.com that uploads my listing to over 20 WEB sites and let me cut-n-paste the listing to Craigslist. But even with that, the biggest number of tenants I get from the For-Rent sign I have printed on a 2x2Leter size and posted on the property window(s).
10+years ago I used the MLS (I didn't know better) and then my posting agent split one month rent with the agent that found the renter. I would consider this to be the highest amount one can pay to an agent.
Thanks for the information Bobby. I also used Postlet - however, much of the interest I've gotten is from real estate agents on their clients' behalf. So I wasn't sure how to handle that.
It's been my experience that commission is usually one months rent.. split between the two. Or a set fee of $500 to whatever...
Down here if I use an agent to list my property, show the property, handle background checks and lease prep, and put a big sign on the yard, they charge 1 month's rent. If the renter has an agent, then they split the 1 month's rent.
So if you do that work yourself, and a tenant comes via an agent of theirs, I would say half month's rent would be reasonable, is the tenant paying this agent any $?
I am a Realtor in the Fort Lauderdale area, and Sam has got it right. I would provide 1/2 month rent for the cooperating Agent, unless you neigotiated prior to signing any documentation. Some of the larger apartment complex provide a fixed fee, dependent on the Properties vacancy percentage.
Thanks for the information everyone - appreciate the input. Half month's rent seems reasonable to me.
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