When it comes time to rent out your property, many will select an agent based on the price they quote and the fee they charge. How much do you think our property will rent for and how much do you charge? And the good news is, if you want an agent that will quote you a high rental price and a low commission rate, you will find one. Actually, you will find plenty.
The best way to weigh up agents fees is to put a value on what they do. Draw up a checklist of what constitutes value in a managing agent. A major ingredient in any relationship, business or personal, is trust. When interviewing a managing agent, if you don’t trust the agent, don’t hire the agent to rent out your property. Go with your gut.
Before you choose your managing agent, ask many questions, check references, test their negotiating skills (the best way to test an agents negotiating ability is to ask them to cut their commission rate) and ask yourself a BIG question. Do I feel comfortable with this person handling the management of (possibly) my greatest financial asset?
If your answer is ‘no,’ do not hire the agent.
Once you decide on an agent, give them your trust and confidence. Do not interfere.
Allow the agent to make decisions and get on with the job of finding the right tenants for your property and managing it.
The best agents are worthy of your trust. They won’t let you down.