I think there is a misconception of how Los Angeles Realtors® handle rentals, so clarification is in order.
Much as we may love what we do as Realtors® we are paid totally on commission. Until a deal is consummated we can run around for weeks, months, or even years with all the expenses and no income. Now don’t get me wrong, in Los Angeles one deal, and by deal I mean sale, can be worth all the hard work involved in making that deal happen. And it is all part of the business.
Who pays a buyers’ agent’s commission? The listing brokerage who has an agreement with the seller to pay both the listing agent and the buyer’s agent, or co-brokerage.
The same goes for Los Angeles rentals. There is a listing brokerage and the landlord agrees to pay commission to the listing agent and the agent of the tenant.
In today’s market we are seeing more and more rentals given to Realtors® to find tenants, but they tend to be in the higher-priced category.
What does this mean?
It means that we Realtors® don’t have access to many lower-priced listings. Most of those properties are not given to us to rent out. It makes no economic sense for either side.
Also, the majority of rentals you find on a website like mine are going to be privately owned condos or single family homes, not apartments, and most of those are going to be rentals for a minimum of one year.
So if you ask me to help you find a rental for 6 months for under $2,000, I am not being unhelpful or mean-spirited if I tell you I can’t help you. I really can’t.
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