REAL ESTATE PRACTITIONERS INFLUENCE ON QUICK LETTING OF PROPERTIES.

To many property owners, avoiding contacts or phone calls and enquiries from Real Estate Brokers is a common occurrence. For larger percentage of them what goes on in their minds is the big question " why do I need a realtor to help let out my property and get paid several thousands as commission when I can do it myself and retain the commision? Besides, I know my Property best.

Disappointingly, these are few of the arguments usually put forward by those punting private letting as opposed
to the use of estate agents. The question is whether these reasons are sufficiently compelling to send you into the thorny unknown of Do It myself letting? In all fairness, probably not.

Perhaps you may consider the following valid reasons to use an estate agent/broker to let your property, before making your decision on whether to opt for private letting or not.

Reason 1: Property Letting is an Estate Agent’s Area of Expertise.

By appointing the services of a realtor, you gain the services of an expert who will act in your best interests throughout the lease/letting process starting from appropriate tenants selection, tenants background screening tenants criminal records check, ensure the intending tenant provide reliable guarantors of certain status in case of rent default, damages etc. The agent/broker is to bring out his/her best expertise to satisfactorily represent your interest from the beginning of the letting processes till end. Thus, the huge difference from most "Do it myself" landlords who unknowingly give out their properties to BAD TENANTS and ended up spending that gained several thousands on court case or eviction.

Reason 2: Estate Agents take care of the marketing detail.

The agent knows how best to take care of the many small tasks associated with getting the world out there know that your property is up for letting/lease. This includes series of advertising, online listing, photographing and video marketing of your property using highly effective platforms or medium which you may not know about to ensure the property gets off the market as quickly as possible with commensuable rents in your bank account as the property owner. Have you ever noticed a well finished rental property within a good environment staying in the rental market for up to a year or more? The reason could be poor marketing, overrated rent by the " do it myself landlord and over time such property may beging to depreciate in aesthetic.

Reason 3: Estate Agents can help you determine fair and commensuable rent.

Rent guidance is a very important factor. For one, estate agents know what the market conditions are and can fully explain the impact of these conditions to you – for better or for worse. Secondly, estate agents are normally current with obtainable rent within several neighbourhoods, so they can know the area your property situate by heart: What the going rents are, and the time it normally takes to let properties similar to yours. Thirdly, based on the market conditions and the neighbourhood dynamics, the estate agent can work with you to determine the most appropriate marketing strategy to let your property at the best possible rent better to your advantage.

Reason 4: Estate agents have access to prospective tenants.

Estate agencies are prolific advertisers, the advertising, together with the regular show houses they host, ensure a steady supply of prospective tenants on their books. Some of these prospective tenants’ requirements may well match the property you are trying to let thereby making it so much easier to let your property within a very short period instead of it lingering so long in the market and you losing returns on your investment.

Aside that, they network with other professionals, many of whom provide services that you will surely need e.g lawyers. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection for legal documentation of the tenancy agreement and eviction in case of breach of the agreement on the part of the tenant thereby lessen your burden on that.

Reason 5: Estate agents filter out the noise.

Estate agents act as a filter between you and the prospective tenants. They thoroughly screen the telephone calls and eliminate the proverbial tyre-kickers to ensure that only serious and reliable ones with potentials for regular payment of rents end up on your doorstep for final assessment.

Reason 6: Estate agents are in a better position to negotiate

Most agents are better negotiators and stand in a better position to negotiate on your behalf because they are not emotionally involved in the transaction. They also know which information should legally be disclosed during negotiations and which information should be withheld.

Reason 7: Estate agents sort out the paperwork.

Estate agents take care of the offers and counteroffers as well as preparing the wads of financial and legal paperwork associated with letting a property.

Naturally, the usefulness of an estate agent is directly proportional to his or her competence. Making use of a reliable firm of realtors/agents is always a good start towards quick letting or your rental property. However, kindly read and share if you think this write up is of benefit to you and others you might think of.

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I am an aspiring realtor with great passion but no skill and very little knowledge about real estate.
I would love if someone here could take me on as a mentee (protege). I live in Karu, Abuja. I have interest in property sales, construction and everthing that real estate covers.
If you can help a brother's dream come through, kindly call me. 08022215056