Rental Property Investor · Jersey City, NJ · Member since 2011 · 1k+ posts · 876 votes
This happens almost every time I post a unit for rent. I usually tell them to bugger off, I don't want a tenant too helpless to read Craigslist or Zillow for themselves. But a vacancy for Jan 1st just sucks, and I'm considering everything.
A broker can be your best friend. They have often pre-screened tenants because they don't want their reputation tarnished. Let them fill your units for you!
I've tried brokers a few times, even let one set the price, not one rented a unit for me. Perhaps there's some great ones who have relationships with big management organizations, but IMO a broker who scans ads for inventory to show is a bottom feeder.
Your upset because a tenant used a broker in a place where a majority of tenants and landlords use brokers? And further the tenant pays the broker fee?
list in your ad No compensation to brokers, but if they call and want a showing sure,, their client would pay them.
Tenants pay the broker's here anyway. This guy just called after emailing yesterday, he's based in Manhattan and wants to show it to a client coming in from Japan. Sounds fishy for a $1700 unit in Jersey City. I told him no. I think he was going to waste my time, and just wanted more inventory to show so he looked professional.
@Johann Jells feel free to reach out to me. Im both an agent and landlord. I have handled plenty of rentals for clients and know JC very well. I am not trying to get a rental listing from you. Just looking to help. Take care
Thanks Chris, but I'm fine. I like showing my units, I have the time, and I think it's the best time to assess the prospect. I also see the broker ads and mine are generally better. Pricing is really the only place I struggle, and you never know till you ask too much. I may have asked too much this time, especially in December! Oh well, the month is still young...
I think you may have your perspective a little skewed.
Don't feel threatened by the Broker. They aren't there necessarily to solicit you for business. You just may have a unit that meets their client's criteria. And what's it to you? If the Tenant pays their fee, then all you have on your hands is a gift, wrapped up in a nice, pre-screened, bow.
Why would you fault someone for hiring a Realtor to find them a place to live instead of scouring CL, Zillow and all of the zillion other internet sites? I don't think this makes a person "too helpless" to hire an agent, and save all of the time searching.
And a Broker that happens to find your listing outside of the MLS for their client doesn't sound like a bottom feeder to me, but rather a go getter that is doing their best to find a place for their client that may not be available through the normal channels.
Just my 2 cents....but then again....I am one of those pesky Realtors. :)
As a real estate investor, it’s prudent to utilize every tool possible in order to maximize your income / returns. I have no problem paying a broker to bring me a well-qualified tenant if it means one less month of vacancy or a potential long-term tenant. However small that fee is on the front end is nothing compared to how much a quality tenant can bring in to you.
@Johann Jells - I'm missing why having a tenant who is professional enough they hire a broker to find them an apartment is a negative for you.
The potential tenant is willing to pay the broker at least a months' rent to filter out lousy apartments.
The broker should be able to provide all the documentation you need before you even meet the tenant. What is the downside?
Carol