Yesterday I had a new customer contact us regarding finding a luxury rental and during the conversation I took some time to explain to her why it is important to hire a Miami Realtor to find a luxury condo rental. I thought I would share it with you because it’s a conversation I have daily.
In Miami, there are many different types of properties for rent from single family homes to large beach penthouses. Since many owners are not local, and the renting process can be a tad tedious, many property owners hire Realtors to list their properties for rent in the MLS.
These agents take the listing, put it on the local MLS, advertise it for rent, show it to prospective renters, work with renter agents to show it to their customers. After the rental offer is accepted both the owner’s agent and the tenant’s agent, cooperate to prepare the lease, the deposits, the building application, etc.
What my new customer didn’t understand is why she couldn’t just walk in off the street and start looking at properties. The reason why is because within each building there can be hundreds of units, each of these units is owned by individual property owners and they hire their own individual agent to list the property for rent.
Of course, you could contact each owner’s agent to show you each listing, but that’s crazy time consuming. So most renters hire their own agent who does all of the legwork for them. Plus you have someone working for you on your behalf.
Either way, it’s customary in Miami that the owner pays the brokerage fee (if there is one brokerage, usually they get the full commission, if there are two, it’s split). That’s why the service is advertised as a free service for the renter.
It’s also important to note that not all Realtors in Miami specialize in rentals. Honestly, it’s sort of looked upon as the “evil stepchild” of the real estate business because it’s a lot of work and less commission than what a sales transaction would garner. But, if you are working with a team who knows this business, they don’t treat it that way, and you won’t feel like it’s a burden for them to work with you. I know that’s probably kind of blunt, but it’s true. We often have people tell us, “Sorry you have to help us with a rental” and I know that they are saying that because they have been made to feel like it was a burden on someone else. For us, it’s not a burden. Although we are doing more sales business these days, rentals are still important to us, and those who contact us for the rental business are always treated with great care. Always.
So in the end, I hope this has given you a good explanation of why it’s important to hire a Miami Realtor to find a luxury condo rental.
Copyright © By Jamey Prezzi* All Rights Reserved* Why Hire a Miami Realtor ® to Find a Luxury Condo Rental?