What is the advantage of choosing an agent that does rentals as part of his or her business services?
* Investors can benefit from working with an agent who can find them a great rental property by putting their detailed knowledge of both the local real estate market and the local rental property market to use.
* Renters can access an agentâ€™s true work style and determine whether they would feel comfortable employing that agent for a sales transaction at a future date.
* Rental research adds to an agentâ€™s knowledge base about all properties in a specific market. Agents familiar with all residential properties (those that are income producing and those that are non-income producing) generally know how these properties impact and are impacted by the local economic conditions and trends such as new jobs, demographic shifts, attraction of corporate relocation clients, etc.
* Knowledge of rental prices is essential to pricing and selling residential investment property, specifically condominiums. Rental income impacts that value and demand for condos much more significantly than for houses.
* Ability to save time and close: Agents aware of the various layouts and options in a community are more likely to match the right renters with the right properties. Agents who are ignorant of the rental inventory can spend many hours touring clients without closing a deal. This is frustrating for the agent and the customer.
If an investor is moving into a new area with plans to buy a rental property, it is important for them to call several agents and ask who pays the fee and what the fee is. They should also inquire about the MLS that exists in the area. If much of the property is unlisted, then they might have to agree to pay a fee to the brokerage they employ, even if they find and subsequently lease an unlisted property. Investors should make sure they know under what circumstances they will pay a fee and when no fee would be due.
Going half will keep agents showing your rental units or finding tenants for you. It pays to be generous in this business because we all need each other some time or another.
I hope my answer helped you.
Full Time Top Sales Agent
Co-ops and Home Sales
Weichert Realtors, H.P Greenfield
1712 Utica Avenue, Brooklyn, NY 11234
My Site: http://www.KandHhomes.com
The basic formula to remember regarding any commissioin is that the person having to pay it (buyers if they're hiring a buyers agent or seller hiring a sellers agent) is totally up to the individual paying it. Though a company has an option to agree to it, in the end all commissions are negoitable and up to the payee.
Good Luck to you.