I am about to close on a condo. I want to get it rented out as fast I could. This is my first investment property. Can I engage multiple agents to get it rented out faster. I know the typical rent range I am going to get.
@Himanshu Patwardhan I don’t you can do that I had to sign an agreement with an agent allow them exclusive rights to list my condo for a designated amount of time.
Thanks for the reply. What are the typical terms in the contract ? Am I allowed to find a renter myself? How do i find agents who have rented out apartments in the community I am about to buy.
It would be very unethical and I am positive it has happened in the past. Imagine one agent working his (or her) butt off to get it rentend. He spends his time and may even spend some money to advertise the unit, but he it competing with another agent who may find a tenant first and he loses all his time and the money he invested.
I am a plumbing contractor and there are many times I feel like beating the crap out of people. I get emergency calls during all hours of the night, but lets say I get some at 3 n the morning. I tell people I have a $180 service call fee that cannot be cancelled and they agree. I get dressed, drive to the property and find another plumber there. I tell the customer they owe me the service call fee and they always say, "you didn't do anything".
Is that what you would tell one agent when the other rents it first.
I didn't mean to do it without letting the agents know. I guess you assumed that. My goal is to get the condo rented out faster and not try to fool the agents.
@Himanshu Patwardhan Too many cooks, spoil the broth. If you want an agent to rent it, find one that you want to work with and let them do their job.
How much effort is an agent going to put into finding a renter if they have others doing the same thing? Who is going to get paid, the agent who finds one? If so, why would they bother?
Will keep this mind and find the right agent who has rented out units in the community.
YOU CAN LEASE WITH MULTIPLE AGENTS BUT OU WOULD HAVE TO MAKE SURE YOU DONT SIGN AN EXCLUSIVE CONTRACT. ITS NOT HARD TO FIND TENANTS BUT THE TRICK IS FINDING QUALIFIED TENANTS. THE KEY IS TO MARKET AND PRICE APPROPRIATELY.