5 Reasons a Landlord Should Use a Real Estate Agent

To an astute business owner, it is obvious that the less operating expenses you have, the better.

Therefore, as a landlord, if you can forgo a real estate agent to find a tenant, you are better off,

right? That is not always the case. Whether you are a seasoned property owner or just taking

flight, there are a few things to consider when deciding if using a realtor is a financial loss, or an

underutilized rental gem.

1. Amount of Exposure: A Significantly Higher Number of People are Exposed to Your

Property.

Yes, Zillow and Rent.com are great and a substantial number of people go there to check out rentals.

However, you are missing a whole market of people when you simply promote a rental on one or two web platforms. Many renters are those that maybe recently sold their home, or are coming from out of state, and for one reason or another are using a realtor. When you use a realtor to search for a tenant, your rental is broadcasted to the realtors across the state. Beyond that, these realtors want to rent your property when it is in their MLS for a multitude of reasons. They also know how to make sure it is broadcast across all of the major sites, not just a few of them. This way if someone is using a less prominent site, that potential client is not getting missed. Not to mention those potential tenants are not seeing your competition who is only posted on one major rental site. So, who do they call? YOUR REALTOR! This will not only help you to rent it faster, but you may have more tenants to select from.

2. The Work Disappears?

Marketing, showings, and paperwork galore are inevitable when listing a property for rent. It is

difficult to manage showings that are a suitable time for you, your

current tenant, and all the

potential tenants that would like to see your property. If you don’t make your money back in marketing costs for using an agent, you certainly will in time! Imagine a world where you don’t have to constantly monitor and answer messages from potential tenants, where you don’t have to run to the property 5 times a day (that is if you are getting showings) to show the rental to

someone who may or may not be a fit. What about running all those credit reports and

background checks? Done, done, done! You can take away the hassle and reap the rewards.

3. Pricing Accordingly to Get the Most Out of the Rental.

If your rental has ever been vacant for 30 days or longer, you know that can be a major loss. For example, on a $2,000 monthly rental, you will need to increase rent almost 200 a month just to make one month up.

Without the proper tools and marketing, your rental can sit for months on end, and with unreliable tenants, you can be frequently left vacant again. There are a number of

factors that go into pricing a unit (square footage, upgrades, heat type, location, building amenities- the list goes on and on!). You must properly price the unit to get enough attention to where you are not so high that you are losing money in months and that you are not so low you are losing money in rent. When you use a real estate agent, they have tools and experience in

pricing the units for the maximum benefit.

4. The Key Is in The Marketing.

Have you ever been captivated by the luxury listing showing videos (guilty...)? Although these

listings are frequently fabulous, the videographer is certainly showing the best light to draw the

most attention. Your photos, descriptions, videos, and walkthroughs needs be done in a manner

that highlights the pro’s and makes them outweigh any cons. Have the right agent market the

listing and you are sure to draw attention.

5. Protection:

Realtors know the lay of the land. They are constantly exposed to the rules and regulations in

the industry and can make sure that the paperwork is in line to keep you protected. Not to

mention, when it is out of their expertise (we aren’t lawyers...), they will know who to call to get

you the right answer. Your realtor works on your behalf, so they will make sure everything that

transpires is in your best interest.

6. New Opportunities!

Maybe you want to grow your investment business and increase your number of rental

properties. What better way than to have a professional constantly looking for a good deal in

your market. Your real estate agent can determine your estimated ROI and go into detail on the

numbers for you so that you know exactly what your profit might be if you decide to obtain

another property. They can help you grow your inventory and fill up your vacancies at the same

time.

Is it perfect for every scenario, certainly not! However, it may be worth investigating.

The most important factor of course is to be sure you have the right agent. It’s a agent’s duty to

make sure your best interest is being taken care of, so if you have one knowledgeable in your

area who fulfills their fiduciary duty as an agent, you will how the benefits can greatly outweigh

the cost.

If you have questions about what an agent can do for you or you need help finding an agent in

your area, give us a ring and we can connect you with a proven agent that is an expert in your

local market.

Happy Renting!