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When people think of hiring a real estate agent they usually associate that with buying or selling a house. But can realtors help you find rentals?
Yes! Real estate agents aren’t just for property owners. Realtors can also help you find rentals. Some real estate agents assist with renting properties such as houses, townhouses, condos, and commercial properties.
Here we’ll cover how to find a realtor for a rental property and what you can expect to pay for this service. We’ll talk about renting houses, condos, townhomes, or even commercial properties. Without further ado, let’s jump in!
Where Can I Find a Real Estate Agent for Renting?
Whether you’re looking to buy, sell, or rent a home, the easiest way to find rental agents is through online real estate directories. Online real estate directories are hubs for collecting real estate agent data based on location, number of transactions, credentials, certifications, and client reviews. They are also a convenient way to get matched with a realtor for rental units that fits your criteria.
>>MORE: Finding a realtor is easy with FastExpert!
If you’re looking for a real estate agent that specializes in finding homes for rent, you don’t want to waste your time with someone trying to convince you to buy a house. In addition, if you have a property, you may want to search for an agent to rent my home.
When you search for a real estate agent through FastExpert, one of the most popular and trustworthy online real estate directories on the internet, you get access to the most experienced and trustworthy agents in your area. This includes agents specialized in connecting their clients with their dream rental properties. You can browse through agent profiles and see their credentials, certifications, years of experience, number of sales, and even client reviews!
FastExpert’s service is completely free for the client. So there’s no risk to you for connecting with a realtor for rental units through FastExpert. It’s a win-win!
What to Search for When Browsing for a Rental Agent
So now that you know where you can find a real estate agent for renting a home, you need to know what qualifications and credentials to check for on an agent’s profile.
1. Average Listing Time and Number of Listings
Look for this agent’s number of listings they’ve represented. Check for the overall duration of these listings (it should be short). The amount of time will tell you a lot about their negotiation skills and ability to get homes sold or bought fast. An experienced real estate agent has a small gap of time between the original date the listing was posted and when the sale was closed. Look for patterns, see if their client’s listings have relatively short lives or if they’re all over the place. This will help you narrow down your choices.
2. Market Knowledge
The real estate market is ever-changing, and isn’t something you can study up on once and completely understand it. A real estate agent should have a range of properties they’ve worked with.
A real estate agent that specializes in rentals should also be proficient in selling homes and getting their clients to buy homes. They should know everything there is to know about renting houses, condos, and townhomes. With the agent’s access to the multiple listing service, they should have strong knowledge of the housing market and average rentals rates. You want to choose rental agents that will be your advocate when finding a rental property.
If you’re looking to rent one of these, you don’t necessarily need an agent proficient in renting commercial spaces, but it can’t hurt. On the flip side, don’t go with an agent that only specializes in renting commercial properties and not homes since they are not one and the same.
The real estate agent you choose should be knowledgeable in all kinds of real estate, the current market, and how to negotiate a deal.
3. Client Reviews
This may come across as an obvious one, but be sure to read through real estate agent reviews. Take it from the people who worked with these agents directly and weigh out the good and the bad.
I recommend checking out 2-star and 3-star reviews and comparing them with the agent’s 5-star reviews rather than sifting through any bad 1-star reviews. While a 1-star review could be very telling, I find that these reviews are typically unhelpful and written from a place of frustration rather than honesty.
Client reviews are incredibly helpful when narrowing down a rental agent to choose from but proceed with caution.
How Are Real Estate Agents Paid for Rentals?
When buying or selling a property, the real estate agent is paid a commission, which is a percentage of the purchase price of the home. However, with a rental unit, there is no commission. Therefore, with a rental, realtors are typically paid a portion of the monthly rent or in some cases, a one month’s rent.
>>MORE: How Do Real Estate Agents Get Paid?
Another option for payment is for the agent to receive between 5% and 15% of the yearly rent. The way a rental agent is paid for the transaction of a rental property is based on competitive rates and the climate of the industry at the time.
How Does A Rental Agent Choose How They are Paid?
A real estate agent’s commission for a rental is sometimes a percentage of the rent for the year. If the property owner uses an agent to rent the home, the commission is split between the two agents.
On the other hand, a rental agent can receive payment by charging the amount of a single month’s rent. If the rental agent finds a new tenant, then they can charge the first month’s rent as payment.
In this case, The working with the agent then divides the commission from the first month’s rent charge. The landlord is then paid for their respective fees such as a security deposit.
In Most Cases The New Tenant will Pay the First Month’s Rent to the Agent
Depending on the city and state the rental transaction occurs, the prospective tenants usually ends up paying their real estate agent the amount of the first month’s rent on the property.
The Bottom Line
In conclusion, if you’re planning on renting, you’re going to need a real estate agent, specifically a rental agent. And it’s easy to find a realtor in the USA via online real estate agent directories.
The best and most trustworthy online real estate agent directory today is FastExpert. FastExpert.com matches you with experienced, trustworthy agents that specialize in rental properties in your city!
It’s completely free, easy to use, and proven successful. Fill in your zip code, browse through agents in your area, and see the reviews for yourself!