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Answers (12)
- Loreena Yeo, "316teamREALTY"
- Contributions:67
As mentioned by Travis, your tenant representation agreement would specify how much the brokerage charges for the service. Very often, the landlord offers a co-brokerage amount to the agent/ broker who represents you. If the compensation offered by the listing brokerage is not sufficient, then you, as the tenant would pay the difference. If the compensation is equal to the fee your broker/ agent charges, then it will be no charge to you.
I hope this is easy to understand. Good luck!
I hope this is easy to understand. Good luck!
- AL McCaw, "Al McCaw"
- Contributions:286
It is customary for the landlord to pick up the tab. However, in certain situations where the tenant has certain extraordinary tasks for the realtor that will involve a great deal of the realtor's time, then an arrangement for a realtor's fee prior to the execution of the actual tasks is performed is generally settled by all parties: tenant, realtor and realtor's broker.
The fee must be made to the realtor's broker by the tenant. No direct compensation to the realtor is permitted in accordance to state compliance. Such tasks and fee must be approved by the realtor's broker as well because this falls in the liability of the broker.
The fee must be made to the realtor's broker by the tenant. No direct compensation to the realtor is permitted in accordance to state compliance. Such tasks and fee must be approved by the realtor's broker as well because this falls in the liability of the broker.
- Jeff Norris, "JeffNorrisHomes"
- Contributions:37
Often times the landlord pays the equivalent of a month's rent to the listing broker. That listing broker will split the commission with the buyer's agent. Tenant shouldn't pay anything besides, possibly, a rental application fee (usually 25-50 bucks) and some landlords will run credit or background checks and may bill you for those, as well.
- Bob Foust, "bobfoust"
- Contributions:73
In Calilfornia, it is typical for the owner (landlord) to pay all of the fees to Realtors. No cost to the renter (tenant).
- Travis Foote, "TravisFoote"
- Contributions:1
In Texas if you signed the Residential Buyer Tenant Representation Agreement with your Realtor, the agreement will state that the Broker will seek to obtain payment from the seller, landlord or their agents (Paragraph 11.B). If those persons refuses to pay your Broker and Agent, then contracturally you have to pay the fee listed in Paragraph 11.A of the Agreement.
- Philip Roy, "PhilipARoy"
- Contributions:52
Hello,
In Nevada, no, the Landlord/Management Company pays a small referral fee to the Tenant's Rep. The unfortunate thing for Tenants in Nevada is that most Realtor's do not want to deal with Tenant representation because it can be a money losing proposition. However, if the Tenants would also pay a fee to the Realtor, the Tenants would have a much better success rate of getting professional and often times much needed representation. A lease can be more complicated than a purchase contract so every Tenant should have professional representation. Please always use a Realtor even if you have to pay part of the commission.
Philip Roy
Broker
PR Properties Group
In Nevada, no, the Landlord/Management Company pays a small referral fee to the Tenant's Rep. The unfortunate thing for Tenants in Nevada is that most Realtor's do not want to deal with Tenant representation because it can be a money losing proposition. However, if the Tenants would also pay a fee to the Realtor, the Tenants would have a much better success rate of getting professional and often times much needed representation. A lease can be more complicated than a purchase contract so every Tenant should have professional representation. Please always use a Realtor even if you have to pay part of the commission.
Philip Roy
Broker
PR Properties Group
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2729
"affordable rental" in Manhattan is an oxymoron
- Linda Strasberg, "L Strasberg"
- Contributions:2315
In NYC in a strong rental market with limited supply of affordable rentals and huge demand...landlords paid one months rent as a fee to the agent and tenants paid 33% of the gross lease amount to the agent when signing lease agreement along with 1st month last month and 1 month security. I am happy to note I had a landlord with 328 brownstones in the best areas in NYC all renovated and all exclusive listings not in the mls. My clients were thoroughly pre-screened and prequalified. Referrals were provided. Birds of a feather flock together. It was wonderful.
- HomeSand.net, "White Picture"
- Contributions:4392
It is not a law in CA, I (the landlord) paid 6% commission fee to the agents ( half to the listing agent and half to the tenant's agent )
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2729
Yes, Mike - it really is local. In my area, long ago, the landlord used to pay the commission. Now it's customary for the tenant (even with homes listed on the MLS) to pay the commission.
Nothing is written in stone, however, and there are times when, to spur things along, a landlord might offer to pay entirely, or split the commission with the tenant.
Big country - lots of ways of doing business!
Nothing is written in stone, however, and there are times when, to spur things along, a landlord might offer to pay entirely, or split the commission with the tenant.
Big country - lots of ways of doing business!
- Michael Emery, "MikeEmery"
- Contributions:7296
My understanding is it is a local thing.
In NYC renters pay real estate agents to find them an apartment.
Where I come from, the owner of the home/apartment pays the real estate agent for their services, so the renter does not have to pay their agent.
In NYC renters pay real estate agents to find them an apartment.
Where I come from, the owner of the home/apartment pays the real estate agent for their services, so the renter does not have to pay their agent.
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
No, normally the fee is paid for by the landlord if the home is listed in the MLS. If it is listed by owner, many times the owners would agree to pay the agent as well.
Naima
Naima
Does a tenant need to pay a realtor for the service?
If I use a brokerage service from a realtor for finding rental house, do I need to pay for the service as a tenant?
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