See this pile of cash? It doesn’t belong to you and you know why? Your realtor is being unrealistic and greedy about your property.
We have a client who is interested in a townhome in a particular area. We have one in this neighborhood and know without a doubt the competition is over-priced. Rentals sit 6-months, 8-months, 1-year or longer vacant. Why? Your rental is over-priced. Period.
I called a realtor to ask about a rental that has been listed and vacant for 6 months to see if the owner was flexible in the price. I told her that I had a great client interested in the home, but wanted to pay a more reasonable rent for the unit. With disgust, I was told that the building covered all utilities which was included in the rent. I told her I knew that was not true because we have the exact same property in the neighborhood. Well not the same. Our is updated and upgraded. She then back-peddled and said well the owner wants to rent it furnished only. On the MLS listing, it states “furnished, but will consider unfurnished.” So the ad was misleading or the realtor was a liar.
I asked again about the price. I stated about the home being listed for 6 months and sitting vacant. Is the owner flexible? Again, I was given the run-around. Never once did she say she would present an offer to the owner.
Can this realtor read minds? I can’t. As property managers, we present all offers to owners. Ultimately the decision lies with you, the owner. You should decide whether to reject or accept an offer. Not a realtor.
I believe putting the owner in the driver-seat is what gives us so many happy clients and great reviews.
I never asked what the commission would be on the property. I never wanted a commission. I wanted to find a home that met my client’s needs.
Did this realtor ever stop and think, “my client has been losing thousands of dollars because his home is sitting vacant?” No. She heard reduced price, saw her commission drop and never consulted the owner. Would the owner accept a lower offer? We will never know because he will never be asked.
My client never saw the property or put an offer in. Why? A realtor discouraged an amazing tenant from a property that needed a renter.
So, this pile of cash continues to sit untouched.