Most people realize the many benefits that can come from hiring a professional real estate agent when looking to buy or sell a home. But it’s easy to overlook the many significant benefits that can come from hiring a solid real estate agent to help with finding a rental property. Let’s take a look at some of the reasons that hiring a good real estate agent to help with finding a rental property can pay off big.
Rental markets are tight and rents are rising
Across the United States, there is a general shortage of rental units. And this has translated into rapidly rising rents and very low levels of vacancy. In such a tight rental market, it is imperative to be on the ball when any property of interest becomes available. Even the largest apartment complexes often have no vacancies at all, especially for niche apartment floor plans like studios.
A professional real estate agent’s job is to monitor these markets. And they can all but guarantee that you will get a foot in the door when an appropriate unit that fits your budget guidelines becomes available. One of the biggest frustrations that real estate professionals hear from prospective renters is that the units that they’re interested in getting snatched off the market before they have a chance to even pick up the phone. A professional real estate agent acting on one’s behalf can help to lock up those properties before they’re swiped off the market by quicker actors.
In most markets, the fee is paid by the lessor
This is perhaps the most compelling reason to go with a rental agent. In the majority of rental markets, it is the building owner who ultimately ends up paying the commission for the agent. This is because owners know that agents can bring them high-quality renters with a high degree of reliability. So, they are often willing to pay a small, up-front premium, usually, an amount roughly equivalent to one month’s rent, to ensure that their buildings stay occupied with solid renters.
Rental agents can save massive amounts of time
Anyone who has tried to rent in a big-city market knows what it’s like to spend week after week searching for the right rental. Rental agents can take a job that might take hundreds of hours and melt it down to just a few minutes.