General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Disparity between estimated rent from agent vs. area research
If you use rentometer and various apartment searches and believe that a unit should rent for, say, $650, and your real estate agent estimates that it should rent for $600, that's not a big deal. The different isn't that large. But if you can't find a single unit in the entire area that rents for less than $900, yet the agent still says that the unit won't rent for more than $600, how do you handle such a situation? I'd trust an agent over rentometer, but if I am incapable of finding any property near what the agent claims similar properties are renting for, I don't know how to resolve such a blatant disparity in the numbers.
How can we tell whether 1) the agent is correct and it is somehow a fluke that everything else implies a far higher number or 2) the agent is making an inaccurate estimate and the rent shoulder be much higher.