IE: $2,000 month rental rate for a 12 month period equals a $2,000 commission paid at lease commencement.
Check our services if you are in need of both tenant placement and property management. http://www.assurancepmg.com
Traditionally, the Leasing Commission is equal to one month's rent for a one year lease as noted below. The Listing Agent typically splits the commission (50/50) with the Agent that produces a qualified Renter. In the case of a $500k home, I assume the Rent would be $2,500 - $3,000... In this case, you may have some flexibility to negotiate a commission less than one month's rent. The Listing Agent should market the property for you through multiple outlets such as all major websites and not just stick it in the multiple listing service. The Listing Agent should also have their in-house mortgage company run credit on the potential renter to make sure they are "rental worthy". You must be careful when checking credit due to privacy laws.
If you need any help with this process, give me a call as I help Home Owners with this all the time especially in the Dunwoody and Sandy Springs areas.