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Multiple Listing Agents.

Discussion in 'Property Management' started by Sonamic, 15th Jan, 2016.

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  1. Sonamic

    Sonamic Well-Known Member

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    I am in search of a new PM for a recently acquired property. I've got one on the case but they're not up to the task (6 week vacancy and counting). Property is listed under their appraisal. I know Xmas is a bad time to round up new tenants, but we are now mid January and in peak season.

    My question is as I've not signed any form of exclusivity contract with them is it ok to list with multiple agents?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Which state is the property in?

    How do they have authority to advertise it if they don't have a contract?
     
  3. Sonamic

    Sonamic Well-Known Member

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    Thanks @D.T.

    Property is in Qld. Contract has never been put forward. Pure verbal. They have keys, an online advert and signage at the property.
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    @Sonamic without a contract, the agent isn't going to lift a finger. So it isn't the agent's fault at this stage - they're waiting for instructions from the prospective client.
     
  5. Xenia

    Xenia Adelaide Property Manager Business Member

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    Is the property advertised?
    Is the agent being active - inspections etc?
    multiple agents will mean multiple listings on re.com for the same property and may confuse the tenant. If they are active and it is still not rented I would suggest you do a feature ad, signboard or anything else to boost up the views rather than another agent.
    what are the page views - ask for stats and be proactive with action.
     
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  6. Sonamic

    Sonamic Well-Known Member

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    Hi @Xenia

    Yes it's advertised and open inspections are once or twice weekly. I might give them another week and if there is still no result change agents.
     
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  7. Xenia

    Xenia Adelaide Property Manager Business Member

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    Have a look at the stats too S
    Number of enquiries, page views
    Is it on page 1
    Feature listed?
    Are people coming to inspections?
    Tenant feedback can be useful too
     
  8. MTR

    MTR Well-Known Member Premium Member

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    6 weeks is a long time and that is a killer for you, income out the door.

    Are you getting feedback?

    Is the rental price correct?

    These are just a couple of things I would be concerned about. I know Xmas but just cover your bases.
     
  9. Sonamic

    Sonamic Well-Known Member

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    It's on 1st page of RE.com. Below market. Plenty of views.
    2 years worth of buffer in place, so I'm safe. But it's not there to spend frivolously.
     
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  10. Xenia

    Xenia Adelaide Property Manager Business Member

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    If you are going to go with another agent, it may be worth finding one that does not charge for advertising or listing the property.
    You can let them handle the process of transferring the management after they have found a tenant. This is common in the industry.
    This will also allow the first one to keep going and if they source a tenant first then all good.
     
  11. Sonamic

    Sonamic Well-Known Member

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    Thanks all. Listing agent has bought several Applications to the table. All have pulled out for various reasons. One I had signed up in December to move in in early January pulled out sighting "our boat won't fit" when the side access gate is 3 metres wide with 18 metres of parking behind it. Must be a bloody big boat.
    Agent has located a family to move in, but they can't do so until mid February, so there is light at the end of the tunnel, it's just a little too dim for my liking. I've told them I need someone to move in by next weekend. See what happens in the coming week.
     
  12. Azazel

    Azazel Well-Known Member

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    That's unusual.
    I've usually had them send the contract for signing before they do anything.
     
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