Moses Kagan on Real Estate

When to hire a professional to lease your units

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I’m all in favor of new landlords learning the business by doing. It’s only by making mistakes that we learn. But there is one scenario where I definitely recommend new landlords get some help: When they absolutely must, at all costs, lease out a unit.

No one wants to buy from a desperate salesman. Period.

And when you’re sweating making a mortgage payment, you are desperate. Unless you are an extraordinary, natural salesperson (and there are some lucky people who are), you need to recognize that your desperation is part of the problem and call in a pro to help you get the deal closed.

It’s amazing to me, but there are licensed agents out there who make a living just doing leases. It’s amazing because leases are, in general, high effort / low reward deals for brokers. And yet they exist.

Are they expensive? Yes – they’ll cost you around one month’s rent. But they do leasing much better than 99% of new landlords and they only get paid when they succeed. So don’t be a hero. If you really need your unit leased, get a pro.

 


Written by mjkagan

05/07/2012 at 8:42 am

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