Finding the Right Leasing Agent for You
A leasing agent works for the landlords of shopping centers, residential rental properties or office buildings to find tenants. Generally, the leasing agent will earn a commission for finding tenants and is responsible for handling all details and fine print of leases.
Characteristics of a Good Leasing Agent
Excellent negotiating skills
The ability to recognize a qualified tenant
Strong organization skills
Great communication skills
Knowledge of the community in which they work
A sound reputation of honesty and integrity
Familiarity of Real Estate Law and the Real Estate Process
Knowledge of the local real estate market
What Should Landlords Expect of Their Leasing Agent
Landlords expect the leasing agent to rent their properties to responsible, reliable and respectable tenants for a fair market price. Real estate is an investment and an immense source of income for many that rent units out. It is because of this that landlords require a fair return on investment, while tenants require a fair rent and the right location for their families and business to thrive. The agent is hired to represent the landlord. This means that the tenants must take responsibility for ensuring that the location and terms of the lease meet all of their requirements.
What Should Potential Tenants Expect from a Strong Leasing Agent?
A prospective tenant should ask what the total rent is for utilities, as well as if there are any other fees. The prospective tenant should consider details such as air conditioning, school districts, noise level, recreational amenities, code and zoning regulations, as well as the availability of parking.
Questions to Ask When Looking for a Leasing Agent
How long have you been leasing real estate for?
Do you have more experience leasing commercial or residential real estate?
How long have you been working in this community?
What sets you apart from the other leasing agents in the area?
What is the Difference Between a Leasing Agent and a Traditional Real Estate Agent?
Although it is not uncommon for a professional to work in both traditional real estate and leasing, not all real estate agents do. A leasing agent is a real estate professional that is familiar with both the real estate market in terms of sale and of rent. Often a leasing agent will work with businesses, in helping to find them a new or secondary location. For this reason, a leasing agent must also be familiar with the businesses in the area, and be able to identify the needs depending on the industry. For example, a dental office will need to be somewhere with ample parking, that is fairly accessible, and ideally not in direct competition with a neighboring dental office. A traditional real estate agent, however, does not need to be familiar with the industry side of things. Real estate agents work primarily with residential and for that reason, need to have their thumb on the real estate market in their area. Where are the best schools? What neighborhoods are considered up and coming? What neighborhoods are still in development? Which communities are more aimed at families versus singles or professionals?