Looking to Utilize a Showing Agent
I am currently self managing around 10 long term rentals. Managing them is not bad however I am running into issues when it comes finding the time to show the houses when there is a turnover in my busy season. It's starting to take too much time away from my main job (working long hours and weekends) when accounting for driving to the unit, showing it, driving back. Has anyone utilized a trusted showing agent or manager of sorts just for showing their properties? How have you found them and structured around it?
Most Popular Reply
This is a common arrangement and there are three ways people usually structure it. First, a licensed agent paid per showing, often a flat rate in the $25 to $75 range depending on market, sometimes with a bonus when a lease gets signed so their incentive is to show it well rather than just unlock the door. Newer agents building a pipeline are often glad to take this work, and the way to find them is asking investor-friendly brokerages or your local REIA rather than posting publicly. Second, some property management companies offer lease-up as an a la carte service for a percentage of first month's rent, which costs more but includes photos, listing syndication, and showings as a package. Third, the self-showing route your first reply mentioned, smart lockboxes plus a pre-screening questionnaire, which works but trades your drive time for vacancy security tradeoffs you have to be comfortable with.
One thing to check before hiring anyone: in many states, showing rentals for compensation is licensed activity, so the person either needs a real estate license or needs to be your actual employee rather than a 1099 contractor. Your state real estate commission website will answer that in five minutes.
Whichever route you pick, keep two things in your own hands. Pre-screen before any showing gets scheduled (income range, move date, pets, occupants) so you are not paying for showings to people who could never qualify. And keep the approval decision yourself, applying the same written criteria every time; the showing person reports what they saw, but consistency in who gets approved needs to stay with one decision maker. Batching showings into a couple of evening blocks per week also cuts the drive time problem down before you spend anything.