â€¢ A realtor has the knowledge and information of market trends and rental history to assist Landlord in not under or over pricing the rental. Proper pricing of the rental attracts a broader number and selection of Prospective Tenants.
â€¢ A Realtor should know how to market locally, nationally and internationally for prospective tenants as well as other real estate agents.
â€¢ A Realtor (not all real estate agents are Realtors) vet prospective tenants by obtaining a rental application that should include employment history, current and past landlord references, credit report, pay stubs and a thorough background and criminal check of prospective tenants.
â€¢ A realtor must know how to negotiate collaboratively with other agents in order to maximize rent and close the deal in the quickest time possible. Time is Money.
â€¢ By hiring 1 Realtor you will automatically multiply the sales force and get the combined efforts of hundreds real estate agents knowing or introducing your property to Prospective Tenants.
Certified Negotiation Expert
copyright 2013 Liz Kenneally
They have necessary tools and knowledge - have current rental database where they can check all active and closed rental deals in similar location/ type of building/apartment and can probably get you a better deal. They know how to do tenant screening/ background check, and which documents to request for the rental application. They have standard forms that are required to be signed and know what information has to be disclosed to tenant by landlord, and finally, if a board approval is required, they would be able to prepare a professional package for the board.
But all of that takes time. They can deal with calls from multitudes of real estate agents with potential customers. Or, they can hand that off to their realtor who takes the time to vet the phone inquiries and find out which ones might actually become renters and which ones may be a waste of time.
A realtor will take the time and make the effort to market the product to a broad audience of other realtors, in addition to his or her own customer base, in order to rent it quickly and and at the best price.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions