I am new to the game and renting out my first property. I have published my listings online and I'm waiting for calls to show the unit. I did this myself and did not hire a realtor. My question is - how does it work if a realtor sees my listings and brings clients? Do they take a cut?
Realtor · Bend, OR · Member since 2018 · 323 posts · 224 votes
7y
Husam,
I think this depends on what state you are in, if it's commercial or residential. In Oregon realtors a lot of times negotiate commercial leases and do get a commission on them, but that is through our MLS system. Typically in Oregon though there aren't realtors looking for a commission on a residential property that is for lease. They may tell their client about it but it may be different where you are at.
I am new to the game and renting out my first property. I have published my listings online and I'm waiting for calls to show the unit. I did this myself and did not hire a realtor. My question is - how does it work if a realtor sees my listings and brings clients? Do they take a cut?
Thank you
If a realtor calls you, they will ask you if you are willing to pay their fee. They will do this before bringing the tenant by, likely without even telling them about the property. You are under no obligation to pay anything, but if you do not, they will tell their client that they must pay if they want to follow through. This increases tenant cost and its unlikely they will apply. You also have the option of offering to split it with the tenant, but again this increases cost for the tenant and decreases likelihood they will apply. Whether you should or should not pay for the realtor depends on your market. if you have trouble finding tenants you may want to consider it. If you have a hot market and multiple qualified applicants, there is no reason to consider paying an agent.
Rental Property Investor · Red Bank, NJ · Member since 2017 · 1k+ posts · 1k+ votes
7y
I have never had a realtor not looking for a fee. They are trying to make a living.
I have never relied on a realtor- one was almost there but screwed it up like a champ. I speculate, that in my market, the tenants enlisting realtors are actively looking for a home (unlikely to renew) and want to get there roots down in the town while they shop.
- another animal of course if you enlist a realtor...