How do I find a good leasing agent? How do I screen for them?

Question

Hi everyone, I've been needing to hire a leasing agent and don't seem to be able to decide where to look for one, how would I know how good they are? I have questions and no answers. Please help!

Jesse T. · Answer

I would look at the MLS for agents marketing rental properties such as yours.  The tricky thing is rentals shouldn't stay in the MLS very long, and unlike sales I don't know of any public method of finding historical ones.

I would want an agent who has experience listing rentals and renting them quickly.  Also I think it will be advantageous to pick an office that is fairly popular in the area.  Maybe start with the broker and ask if you can see rented listings that are similar to your property from the last 6 to 9 months.

I would emphasize that although their personal cut from the rental will be small(likely 1/4 month rent), it will hopeful build a profitable relationship involving buying/selling and much more renting :)

A major red flag is if the agent pushes you to sell, unless you just get a ridiculous offer.

Marina Shlomov · Answer

Thank you, I'll try your suggestions.

Marina

Stanley Okazaki · Answer

If you just want a leasing agent I would say STAY AWAY from the top producing agents. Leases are their last priority and when it comes to leasing out property, time is of the essence.

Look for a newer agent that has done a few leases and is hungry for more. They'll dedicate themselves to each listing much more than a "big shot" agent will.

Be sure that your leasing agent understands you need to lease them quick. There's no reason why the property shouldn't be in the MLS a month or two before the current tenant's lease is up.

As for screening, I'm not sure how to screen agents.

Shawn Mcenteer · Answer

@Marina Shlomov First  ask BP community for a good lease agent in the area you are looking for.  Second I would go to a local REI meet up to find recommendations.  Lastly you can interview local brokers in your area and see which of them lease units.