Rentals in Venice>Question Details

Suzanne Gross, Real Estate Pro in Long Beach, CA

Average broker commission charged to handle a rental property in Venice?

Asked by Suzanne Gross, Long Beach, CA Wed Jun 9, 2010

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If the lease is one year of longer, the standard listing commission is 6%, however it is always negotiable. I wouldn't list it much less than this as this commission is split between the listing agent/listing broker and also the selling agent/selling broker and if you do many agents may not show your property to their clients highly reducing the amount of showings your property will receive. If the rental period is a shorter term than a year, it can range between 6-10% on average. I personally handle rentals everyday, feel free to call me or email with any questions you may have. We screen all applicants and run their credit reports.

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-923-2334
0 votes Thank Flag Link Wed Sep 21, 2011
6% is standard (to cover both sides). If that is too much (as your rent is too low), consider putting it on Craigslist yourself. For rentals under $2500/m this is best.

Regards,
Sri
0 votes Thank Flag Link Wed Aug 31, 2011
Hi Suzanne,
The costs for Property Management Services vary, depending upon what is required by the Lessor . When I was looking into Property Management in Long Beach area, I was quoted from 5-9% by the Management Companies there.
Best thing is to contact a few and compare rates.
0 votes Thank Flag Link Tue Jul 6, 2010
Commissions are always negotiable, there are no set standards as it would be against the law-- in particular the Shearman Anti Trust Act and the Clayton Anti Trust Act.
0 votes Thank Flag Link Sat Jun 12, 2010
Hello Suzanne,
The commission is negotiable but 6% will probably be what most of the agents will want to charge you.
Because 6% of a rental term is not a large sum, I have found that not everyone that deals with rentals will be placing the rental listing on the MLS. They will try and market the property as a 'pocket' listing so they do not have to split the commission.
I think that is doing the landlord a major disservice because it may take the property longer to rent since they will be missing a large pool of attractive tenants that may be clients of agents from other offices and those clients that are surfing the web (once the property is placed on the MLS, REALTOR.com, Trulia, & other sites will pick it up and give the landlord fantastic exposure).
Best of luck & have a great day!
Trevolyn
909-262-6221
lic#01444353
0 votes Thank Flag Link Sat Jun 12, 2010
Hi Suzanne,

Commission ranges vary and may depend on the value of the transaction (also called total consideration). In addition, commissions are negotiable between the landlord and agents. This can be based on a percentage or a fixed amount for obtaining a willing and able tenant. For example, 6% of the lease amount * the number of years for the lease or a fix $1500, 2000, 2,500 split between brokers. It's totally negotiable.

Ikem Chukumerije represents Buyers, Sellers, & Landlords in all luxury real estate communities including Beverly Hills, Malibu, Los Angeles, Bel Air, San Monica, Westwood, Brentwood, Venice, hollywood Hills, West Hollywood, Pacific Palisades, Venice, Marina Del Rey, and Manhattan Beach. Contact Ikem at 323-350-8297 about buying or selling real estate in these areas.

Visit http://www.milliondollarliving.com for more information.

Ikem Chukumerije
Broker/Owner/Notary
Westside Premier Estates
Brokerage | Financing | Investments
Tel: 323.350.8297 | Toll: 800.783.1421 | Fax: 310.496.0511
Email: ikem@MillionDollarLiving.com | Web: http://www.MillionDollarLiving.com
0 votes Thank Flag Link Sat Jun 12, 2010
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