question about realtors and renting homes?

Question

I have a house in Las Vegas that I have been trying to sell for almost a year.  The house is in a great location and is in immaculent condition being only two years ago.  My agent found a family who did qualify a mortage, but since they were financing at 100%, did'nt like the rate.  This was Christmas time 2006.  Well, they've turned out to be horrible tenants.The rent is either late or the checks bounce. My realtor, at the time said she would not collect fees until the house closed. Yes, this is part of the contract that is signed. Between January 2007 and now, this realtor has done very little in regards to property management. She has helped us out when the tenants' dog, they lied to us when we asked if they had  pets, tore up landscaping.  The dog also scared the pool guy, and the realtor helped me find another one.  Business is slow for my realtor and my tenants contract is due to expire soon. Realtor wants one months rent plus a monthly fee for service. Should we bite?

RealtorV · Accepted Answer

She is entitled to whatever you signed for.  I'd take it you signed a listing agreement with her?  If you feel she didn't do ALL of what was called out in writing, then you  should try and renegotiate those items for a lesser amount.  But beware, she has the legal right to sue you and she can even lien your house since she did do work there. (Providing you both signed a contract of some sorts)

Don · Answer

Call other Realtors in the area and see what they charge.  Most property management companies charge a percentage of the rent collected.  Then if any maintenance work is required they may charge 10% of the bill for getting the worker etc.  It really depends on the norms in that area.  Again the best way to put your mind at ease is to call some other realtors and look for a property management company as well.

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question about realtors and renting homes?

2 Answers