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woodburyowner

Well-known member
So I put up a CL ad the other day for my rental in Woodbury.  An agent e-mails me today telling me that he has 3 qualified renters interested in my exact type of rental and if I would pay a small commission if I end up signing one of them.  He wanted 2.5% of 1 years rent, but settled at 2.25%.  Is this a fair price?

I really doubt he has 3 qualified tenants looking for my exact configuration rental, but I'm trying to understand the angle.  Is this agent going to list my property now as if he's the listing agent?

It totally reminded me of the "I got a pre-qualified buyer for your house" type letters I sometimes get, but since this is a rental, it's a bit different.
 
The vast majority of rental properties on MLS in Irvine offer the tenant's agent 2.5% - 3% of the first year's end as commission for bringing the tenant and is payable after the landlord receives the signed lease and security deposit.  Obviously if they want to list your home on MLS then you can say no thanks.  You have to sign a listing agreement to list the property on MLS for rent the same as if you were going to sell it.  I don't really see any downside for you.  Good luck.
 
Be very wary of Craigslist RE deals... on either end of a transaction.

1. Several scammers are pursuing owners and potential tenants for their personally identifiable information and for deposits and/or false commissions.
2. Verify that the person you are working with is actually the person on title, if you are looking to be a tenant. Verify the identification of the potential agent and/or tenant if you are the owner.
3. For you, woodburyowner, I'd strongly recommend that you double-check and ask about the qualification process that the agent is using. If he already has clients that would be interested in your home, why is he not pursuing them through other properties that are already actively committed to paying the %2.5% commission that he is asking for, that are on the MLS?

Much has been made of these types of fraud in the local brokerage meetings, so I hope for you that this is legitimate, but yes, there is plenty of downside.

-IR2
 
Also be careful of criminals "stealing" your rental listing then posing as the owner (you) to collect rental deposits, etc.  Though you wouldn't be liable-  you would have to deal with the aftermath of disappointed pseudo tenants.  All very sad.....

I saw a Branches plan 3 model listed on Zillow for $1000 a month recently.....  wonder how many calls they got on that one.
 
furioussugar said:
Also be careful of criminals "stealing" your rental listing then posing as the owner (you) to collect rental deposits, etc.  Though you wouldn't be liable-  you would have to deal with the aftermath of disappointed pseudo tenants.  All very sad.....

I saw a Branches plan 3 model listed on Zillow for $1000 a month recently.....  wonder how many calls they got on that one.
Click to expand...

When my sister was looking for a place to rent last year she complained that every good deal was a scam.
 
IrvineRealtor said:
Be very wary of Craigslist RE deals... on either end of a transaction.

1. Several scammers are pursuing owners and potential tenants for their personally identifiable information and for deposits and/or false commissions.
2. Verify that the person you are working with is actually the person on title, if you are looking to be a tenant. Verify the identification of the potential agent and/or tenant if you are the owner.
3. For you, woodburyowner, I'd strongly recommend that you double-check and ask about the qualification process that the agent is using. If he already has clients that would be interested in your home, why is he not pursuing them through other properties that are already actively committed to paying the %2.5% commission that he is asking for, that are on the MLS?

Much has been made of these types of fraud in the local brokerage meetings, so I hope for you that this is legitimate, but yes, there is plenty of downside.

-IR2
Click to expand...

Agreed. Last time I rented a house I told the owners I needed to see proof that they owned the property and were current on their mortgage (and not upside down). They actually understood and happily showed it to me. I said that they got to see my whole financial picture (they demanded credit reports, bank statements, proof of income, job stability) that it was only fair that I got to see proof as well.
 
Just had another agent call me.  This guy wanted $1400 bucks if he brought a client to me.  I told him hell no and would only do $750.  I wonder if these agents rank the properties to their clients on the amount of commission they get paid on and not really what their client is asking for.  Why do people even need an agent when trying to lease a property?  Seems like they would only get to see a small portion (the ones where the owners are willing to pay a commission) of what is really available..
 
paperboyNC said:
furioussugar said:
Also be careful of criminals "stealing" your rental listing then posing as the owner (you) to collect rental deposits, etc.  Though you wouldn't be liable-  you would have to deal with the aftermath of disappointed pseudo tenants.  All very sad.....

I saw a Branches plan 3 model listed on Zillow for $1000 a month recently.....  wonder how many calls they got on that one.
Click to expand...

When my sister was looking for a place to rent last year she complained that every good deal was a scam.
Click to expand...
When something is too good to be true.....you know the rest.
 
woodburyowner said:
Just had another agent call me.  This guy wanted $1400 bucks if he brought a client to me.  I told him hell no and would only do $750.  I wonder if these agents rank the properties to their clients on the amount of commission they get paid on and not really what their client is asking for.  Why do people even need an agent when trying to lease a property?  Seems like they would only get to see a small portion (the ones where the owners are willing to pay a commission) of what is really available..
Click to expand...
Unfortunately, most agents will put their interest in earning more commission in front of their client's interest. 
 
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