If you’re getting started with the rental search process, you probably have a lot of questions to ask. One of the first may be whether or not you need a real estate agent to rent property. If you don’t need one, are there benefits to going it alone? Here are a few thoughts on the merits of hiring a real estate agent to help you with your apartment rental.
How Much Do Realtors Charge to Find a Rental?
If concerns about paying a broker fee are what is holding you back from hiring a realtor to help you find your new apartment, you should be aware that in most cases, it is the landlord who pays a fee to find someone to rent their property. It’s not the potential renter who pays. This is not the case everywhere, so you should verify this before hiring a realtor, but be aware that it will often cost you nothing or very little to do so.
What Are the Benefits of Hiring a Real Estate Agent to Rent an Apartment?
Although you can certainly rent an apartment without the services of a real estate agent, such an agent can provide many benefits. For one, they will usually already know the area where you would like to rent, meaning they will know what apartments are available and what a reasonable rent is for these apartments.
They can also help walk you through details that may be confusing as a first-time renter, such as how to deal with credit checks and income verification, how to read and understand your lease and how to secure the rental with a deposit. There are few reasons to put yourself through those headaches, especially if having a realtor do it for you costs you nothing.
Are There Any Downsides to Hiring a Real Estate Agent to Rent an Apartment?
If there is a cost to hiring a realtor, that will be a consideration. If there is not or if the cost is minimal, there are few disadvantages to hiring an agent to assist you in your quest to rent an apartment. The main downside would be having reduced control over the process. Your realtor will also only show you apartments that are on their listings, and they may push the apartments they are more motivated to sell — even if those apartments aren’t necessarily the best choice for you. You may also find yourself getting complacent and trusting the realtor’s information about the apartment that you may be better served by verifying yourself.
If you do decide to hire a real estate agent to help you find an apartment, and there are many reasons to do so, do your research. Find a reputable real estate agent with a wide range of listings, clear knowledge of the area and good reviews online. This will help make sure you get the most benefit out of your real estate agent during your rental search.
For more great apartment rental information, contact Marcotte Properties today.