Did you know that a real estate agent or Realtor® (same thing, just a fancy title because you paid your dues) can actually help you find a rental property?
This is probably one of the best-kept secrets in real estate because, over the course of the past year-ish, I must have talked to 15-20 renters who had no idea that a Realtor can help them find a rental and secure said rental — and they don’t have to pay anything for it!
The Realtor does all the work finding properties in the area and price range that the renter is looking for, you go check out the house, if you like it you fill out some paperwork and agree to terms of a lease and then boom, you’re a renter.
Your Realtor will do much of the heavy lifting and the landlord or management company (whoever is leasing the house/apartment/condo/property) will have to pay the commission for you.
It really is a win-win-win. The renter finds a house, the landlord gets paid rent, and the Realtor closes on a transaction and makes some money.
So why don’t agents like taking clients looking for rentals?
Here’s the dirty secret, the agent is not going to make a ton of money. In fact, it’s going to be pretty minuscule for the amount of searching and time put in. Most agents don’t think that type of payout is worth it.
But I do, and here’s why.
- Money is money ya’ll. I’ll take more of it when I can get it, especially if I have some time on my hands or room for a client or two.
- Here’s a fact. Many renters eventually become buyers. If you do a great job taking care of their rental and stay in contact, there’s a good chance you’re going to get that big sale later on down the road.
Who has time for rentals? I do. In fact, I have a few rental clients right now and I have no problem taking on a few more.
Treat people with respect, do good work for them and you’ll reap the benefits of it — either now or down the line. Renters are people too, and for some Real Estate agents, it can and will open up some very important doors in the future.