Reply to How proactive should a renters agent be?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm an agent who has done rentals. They suck. They aren't worth it because it ends up being so little money.

You get a client. You show them 5-7 places, they find a place for around $2000 a month. The listing agent usually keeps 65% of the commission, so 35% of $2000 is $700, which I then have to split with my broker. So I get about $475 to spend a couple days showing places with a tenant, doing the lease, application, running checks around town for all of it, dealing with a non-responsive listing agent. It's not fun. It's definitely more than a few hours work. More like 7 hours. Not worth it. And that's why I don't do rentals or only do them if someone really begs me. It's not just the money, it's the opportunity cost of what I could have been doing with my day - even if that means spending it with my kids. Much more valuable to me then the $250 I'll have post-taxes and expenses.[/quote]

This is when your client is the renter. The listing agent would get 1300 for posting a few places and running credit checks or showing the place. If someone shows up that is not represented does the listing agent get the entire 2000? Then it's nothing to sneeze at.[/quote]

Right. Sorry. I was running out at the end there and didn't make my final point. This is the reason that listing agents of rentals suck. They take more than a 50% share of the commission thereby discouraging other agents from even wanting to do any work for the rental and they basically do nothing.

Some agents in Virginia actually pay 10% of the commission. Like I would ever work for $150, then split with my broker, then pay taxes on the remainder. It's BS. [/quote]

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