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Hi, I'm moving to the area from Massachusetts to work in RTP. I'm looking for a rental home for me and my dogs. My question is - if I contact a realtor about a home do I pay a fee to the realtor or does the property owner pay the fee? I know this has differed from place to place. I've identified several houses on craigslist that I would like to see and I've viewed satellite photos of the neighborhoods but I'd like a local opinion on the areas. I've got the name of a "friend of a friend" who is a realtor but I don't want to be rude asking for information when I don't necessarily intend to use this person to find a home. Thanks.
Some Realtors will help you find rental property just as a free service. IF there is a fee paid to them, its usually anywhere from $50 to $200 and its paid by the OWNER of the property or the APT. COMPLEX.
By helping you for free or for the fee, mentioned above, the Realtor hopes you will have some loyality to them and will contact them when its time to buy.
Not all Realtors have time to work with rentals, so ask your agent. If that agent wants to charge you a fee...RUN!
I contacted a local real estate agency for info about a rental property they had listed on the MLS. The response I got was that I was given the name of the listing agent, but told that if I want assistance with finding a rental, it would cost something like $500/day!! All I wanted to know was some basic info, like whether it had w/d connections, which the listing agent provided to me at no charge. I have heard, but cannot confirm, that it is the property owner that pays the realtor, not the prospective tenant. But it appears that if you want them to actually help you find a place, then you will have to pay for the assistance.
I contacted a local real estate agency for info about a rental property they had listed on the MLS. The response I got was that I was given the name of the listing agent, but told that if I want assistance with finding a rental, it would cost something like $500/day!! All I wanted to know was some basic info, like whether it had w/d connections, which the listing agent provided to me at no charge. I have heard, but cannot confirm, that it is the property owner that pays the realtor, not the prospective tenant. But it appears that if you want them to actually help you find a place, then you will have to pay for the assistance.
Thanks, but we were just approved for a place yesterday. We were looking in the Five Points, Cameron Village, Glenwood South, Merideth areas. Now the battle with the big complex we live in now because they shorted us a week on our lease and now we need to extend for another two weeks because a previous deal fell through.
I contacted a local real estate agency for info about a rental property they had listed on the MLS. The response I got was that I was given the name of the listing agent, but told that if I want assistance with finding a rental, it would cost something like $500/day!! All I wanted to know was some basic info, like whether it had w/d connections, which the listing agent provided to me at no charge. I have heard, but cannot confirm, that it is the property owner that pays the realtor, not the prospective tenant. But it appears that if you want them to actually help you find a place, then you will have to pay for the assistance.
Perhaps this was a management company or a rental company of some sort? Typically, buyers are paid by the sellers and renters are paid by the homeowners, in this area.
Vicki
Last edited by VickiR; 06-13-2007 at 01:40 PM..
Reason: Oops...I meant the buyers' AGENT and the renter's AGENT.
Perhaps this was a management company or a rental company of some sort? Typically, buyers are paid by the sellers and renters are paid by the homeowners, in this area.
Vicki
Actually, it was a very prominent real estate company in the area that had listed the rental. I know they deal mostly in home sales, rather than rentals. They were only listing the property, they did not manage it. Perhaps this particular company's policy is an aberration. That was really the only experience I had, once I heard what the fee was I just kept looking on my own!
Actually, it was a very prominent real estate company in the area that had listed the rental. I know they deal mostly in home sales, rather than rentals. They were only listing the property, they did not manage it. Perhaps this particular company's policy is an aberration. That was really the only experience I had, once I heard what the fee was I just kept looking on my own!
Well, I guess I could charge someone any amount that I wanted to, for my time in helping them find a rental! I never thought of that! However, this is not customary for our area and I'm glad that you kept looking!
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