All Forum Posts by: Jason L.

Thanks Patricia. Can confirm that my license is active. I also do own two rentals, so I have seen the FL  contract before (just haven’t written it).

FWIW this post is not me denigrating the value of a (good) agent. It’s more that I’m already on the 20 yard line, but to hire a new realtor today means they’re getting paid to drive the whole field. Considering I don’t technically have to hire one to make an offer (nor did I the first time but I felt there could have been value, if it had been met), there’s a real consideration to the opportunity cost.

Yeah......ummm......he doesn’t do any of that either....

My broker lives 4 hours away so it's not exactly convenient. It's my old boss back when I used to work for a commercial REIT, so honestly he doesn't really have any more residential knowledge than I do. He just lets me hang it under his license (I have only used it a few times anyway).

It’s a good idea, but it would have to be with someone else. And quite frankly with me having done all of the work for 2 months to this point and feeling like like I’m 80% of the way to completion, another agent just isn’t worth a 2.5% commission to me right now. Something less maybe but I doubt I could get one off the street to agree to that (understandable). It would be one thing If i were just starting, but I just think at this stage of the game that commission has way higher value as a bargaining chip on an offer (the one thing I know I can do without help) than any additional realtor services that would accompany it. That’s why I thought about trying to just make a deal with a listing agent on any house I want.

I've been searching for a new primary recently. I've been working with a realtor for the last 6 weeks. Without getting too much into details, I feel like this realtor is just waiting for me to call him when I need an offer written and is otherwise adding no value to my search. I'm strongly considering removing him.

The catch here is that I am a licensed real estate agent, but I have never actually used it to represent myself in a sale (I've always just used it for referrals). At this stage of my search, I feel like I'd basically giving a forward pass to another agent to collect a commission in the next few months since I've already done a ton of research and I know I'm going to buy something by summertime. So I'm considering just representing myself. So that opens up the door to just run this thing out to the endzone myself here and save the commission (could probably even use it as a bargaining chip in negotiations).

The issue is that I don't really know that much about the finer details of being a buyers agent (even having bought multiple houses before). I don't want to worry about writing the contract wrong, etc. So is this a bad idea to represent myself if there's a likelihood of an error somewhere? Is there maybe another workaround to this (hiring an agent in some sort of limited capacity? making a deal with the listing agent to do the paperwork?).

So if I'm understanding you correctly (using my example from the OP, assuming tenant left after next term):

Months 1 - 12: Tenant pays $800

Months 13 - 23: Tenant pays $850

Month 24: Tenant's $800 last month's rent is applied. $50 balance is presumably excused

Is that what you would do?

I have a tenant who paid first and last month's rent ($800) when she signed her initial lease. She's scheduled for renewal in June and she has expressed interest in doing so. Rent would be going up to $850. Does her original last month's rent payment...

A) Still apply to this her rent this May (aka the 12th month of her original lease) and she just no longer has a last month's rent deposit?

B) Carry over to the last month of the renewal term (which would now be May 2020)?

If it's B, then how would we go about adjusting her original $800 last month's rent for the new $50 YoY rent increase? Would she just pay the $50 in the final month?

 Thanks Kenny. I actually have the capability to all the advertising and due diligence (Cozy), so I'd just need ground support. I just didn't know **who** I was supposed to go to with this type of agreement. Is this a PM or is this a realtor's wheelhouse?

I'm an OOS landlord and I have an upcoming vacancy at one of my units this summer. I'm interested in finding someone local to handle the showings and the turn cleanup, but I don't need ongoing PM services. Has anybody hired for lease only like this before? How did you structure the agreement? How did you go about finding someone to do it (did you use a full-time PM service, a realtor, etc?)?

In addition to all that's been said, there's also the concept of time at play (i.e. some properties just get listed at the exact right time, whereas a similar property could get listed at the wrong time). Rent is certainly not a linear proposition.

Alright, I decided to eat the cost and just call it a warning to the tenants. If nothing else, it was an opportunity to buy some good will with the front tenant, who seemed to appreciate me going to bat for them.