People who are looking to rent are in a difficult situation. There are very few rentals available and the competition for those rentals is fierce. And most of these people are in a bind. They may need to get out of where they are, possibly because they are selling a house or their lease is up and they, for whatever reason, cannot remain there. So they are desperate.
I understand that. However, when I’m talking with someone about a rental, and I mention a certain property, I get very angry when I hear the reply saying we have already seen that with another realtor.
If you’re going to work with me work with me, I don’t want to hear that you’re working with multiple Realtors because then I’m just spinning my wheels.
The other part of the equation is I have to show so many rentals in order to close one transaction. If I show rental properties to 15 people, five of them I will never hear from again. They won’t return my calls or emails. Four more I will take them out multiple times, and never hear from them again. Five more, after showing multiple properties, tell me “Thank you, but we found one already through another Realtor:
I don’t like to waste my time. Realtors make very little commission on a rental, and frankly, it’s almost the same amount of work as a sale. But we can make a decent amount of money on a sale. On an average rental I’ll make, before taxes and expenses, about $400. And I’ll need to spend, over all including the 14 people I described above, between 50 and 60 hours.
I don’t like to work for less than minimum wage