Does a landlord really need a land broker or a real estate agent? This is a question that one may not think about as a buyer or a tenant. Why? You ask. This is because the real estate agents and brokers are always thought of to benefit only the tenants and buyers and not the land owners. The truth of the matter is that, this people are important to the landlords as well. In fact it is almost impossible for the land owners and landlords to achieve success without them. The following are the duties of a land broker or real estate agent to the land lord ant the land owner.
- Find the Right Renters
The landlord is in business and at the end of the day he needs to make money out of his property. He therefore gets a real estate agent who is mostly in the field to help him have his property occupied at all times. When the buildings whether residential or commercial are not occupied they do not make any money. therefore the hand over to the real estate agents to help them to get credit worthy tenants who are able to make them have returns by making payments. The real agents have to work hard to achieve this goal since as long as the buildings are occupied they are entitled to payments. According to their agreement, they can be given a one-time payment, a percentage of the rent as long as the building is occupied by a client or they are employed on a payroll by the landlord. Most real estate agents prefer to have a percentage of the rent as long as the tenant occupies the building. This helps them to work with their own freedom and gain from several contracts.
- Find Buyers
It is the duty of the real estate agent to get buyers for the property owners. Most of these owners do not have the slightest idea on how to fish and find buyers for their property. Therefore they engage the services of the real estate agent. Some of the owners do not look for buyers for the purpose of keeping anonymity in the real estate market. The agent therefore is mandated to either advertise for the available property or then fish until they are able to find buyers. They can also help their clients to acquire loans and mortgages to help them in making deposits in order to be able to own properties through purchasing. The owner then pays them a commission. This is a percentage of the total amount that the buyer should pay. This can be paid as a one-time form of payment or they can be paid a percentage of any payment that the client pays as long as they will be paying. In the real estate industry a landlord cannot do without a real estate agent since they also understand the trends in the market.