Can real estate agents help you find tenants?

[Kyle Hern]

Hello BP! I understand that real estate agents get paid by the seller when they sell a home. However, what if you're not selling the home, but instead just trying to find tenants for a rental property? How do they get paid? What are my options? Obviously, this question is implying that I don't have a property manager to do it.

Thank you

Kyle Hern

[Nathan Gesner]

In some larger cities, it's common for a property manager to pay a REALTOR for bringing them a qualified applicant. The REALTOR will usually handle showing the property to the applicant and then getting them to apply. If the individual is qualified and signs a one-year lease, the property manager will pay the REALTOR a fee for helping fill the vacancy.

You'll have to call around to see what a fair rate is. I've seen some property managers offer $100 and others offer half a month's rent or more.