HELP - How Much Should I Pay Someone To Look At Houses For Me?

Question

I REALLY appreciate your feedback on this.

I found a former property manager (PM), who also used to own rentals, who's willing to go look at houses for me.  This is an out-of-state thing.  I'm curious to know what ideas you have on compensating someone like this.

Thank you!

Nathan Gesner · Answer

Ask them. Are they licensed to sell? Maybe they'll help you find the properties for free in exchange for earning a commission as your agent. Maybe they want a flat dollar amount? Maybe a finder fee based on a percent of the purchase price when you close the deal?

You say they "used to own rentals" which indicates they left the business. Are you sure they know what they're doing?

Caleb Brown · Answer

Will they be doing any other work for you? I think that will change things. If not I'd do $25-$50 depending on how much time it will take. This will also depend on how detailed and what they are doing. If you are asking anything more detailed or things that are outside of viewing the price would be more than that

Len P. · Answer

I think also try to consider how your incentives can be aligned - is there interest to look at properties for you or to help you find a good deal? Good luck!

Oliver Evans · Answer

I think it will depend on the extent of what they are doing.  If they are licensed which at least in my state a PM would need to be, they could earn a commission like others have mentioned.   I imagine that if you're looking at off market deals from wholesalers, there would be plenty of agents that would be willing to share their opinion on ARV and considerations on location, condition etc.

Michael Smythe · Answer

@Greg Schreffler Fee would depend on the actual amount of service they provide.

If I were you, I'd want at least pics and a short writeup to review.

You should decide what you want pics of and on the writeup.

That will drive the amount of time it will take, which will drive the price.

FYI - we do narrated videos for our clients, so it's like they are walking the property with us.

Zachary Ware · Answer

You can find some great agents who will do this for commission, no need for an hourly rate.

Greg Schreffler · Answer

Great feedback, thanks.

They left the business b/c of a divorce.  No current licensing, have a w2 job now.

HELP - How Much Should I Pay Someone To Look At Houses For Me?

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