Real Estate Agent Cannot Find Tenant, Can I Change The Agent?

LjohnDK123 on 23/02/2022 - 17:50
Last edited 23/02/2022 - 18:33 by 1 other user

Hi everyone,

I am in a tight spot where my real estate agent has not been able to find a suitable tenant for more than 40 days. Now I have decided to sell the property and I do not want the same agent as I don't find him working too hard for it, Also he keeps finding faults with the property and gives absurd reasons for why he is not able to let it out.

I am not sure how to go about this, is there an agreement or a notice period. I understand that I have to pay the advertisement fees, but is there any other things to be considered?

Thanks in advance..

John

Home & Garden

Comments

  • life is suffering on 23/02/2022 - 17:54
    +8

    Share property link

    • johndowy on 24/02/2022 - 00:08

      Yes, lets see how it is advertised and location. Is 40 days abnormal?

  • dust on 23/02/2022 - 18:03
    +1

    Did you sign a contract? If not, you're good. If so, what does it say?

  • SmiTTy on 23/02/2022 - 18:04
    +4

    Best to have a read of the rental agency agreement you signed? That will tell u about any exclusivity clauses

    …but I doubt it will restrict u selling with another agent.

  • holdenmg on 23/02/2022 - 18:25

    Hi,

    IF there are faults then Buyers may offer less (or prefer other Properties), so have a look from the perspective of a buyer, would I buy this as-is:

    a) to live in
    b) as an investment property
    c) what would I really offer…

    Remember the clock starts running on advertising and the market may move up (or down) with a Federal Election coming up as may Interest Rates.

    Have a look at other properties nears yours as to how they present and how much they could earn per month nett if rented.

  • iNeed2Pee on 23/02/2022 - 18:32
    +2

    Welcome to OzBargain.

  • deme on 23/02/2022 - 18:42
    -4

    any other things to be considered

    Invest in bitcoin

  • mitt on 23/02/2022 - 18:44
    +13

    If the rental agent is finding faults with the property my money is on it being actually below standard and/or illegal to rent out in current condition. Agents will rent out rotting piles of garbage vaguely arranged into the shape of a house so long as they pass minimum legal requirements.

  • pharkurnell on 23/02/2022 - 18:52
    +1

    What are some of these issues he keeps finding?

    • holdenmg on 23/02/2022 - 19:36
      +3

      Stuff like:

      Having/not having a roof… whether there is a RCD (Residual Current Device) Smoke Detectors, the usual.

  • bdl on 23/02/2022 - 18:53
    +1

    but is there any other things to be considered?

    Managing agent for a rental property is completely separate to agent selling a property. You can sell it on Gumtree if you wanted to.

    If you've decided to sell anyway, it doesn't really matter who is managing the property as you won't be the owner after you sell.

  • KaTst3R on 23/02/2022 - 19:08
    +1

    I am not sure how to go about this, is there an agreement or a notice period.

    Did you sign a contract or not? If not, you are free to do whatever. You dont even need to inform them another agent is taking over.

  • AndyC1 on 23/02/2022 - 19:14
    +2

    Another newbie posting first timer with no idea about real estate and not having done any google searches and reading.

    What contracts have you signed with the said REA? If you read them they will say what you can and cannot do and the notice period needed to get away from the REA.

  • [Deactivated] on 23/02/2022 - 20:54

    Make sure the buyer wasn't introduced to the property by the same agent or you will have to pay his selling commission

    • AndyC1 on 23/02/2022 - 21:00

      You have assumed there is a contract signed.

  • drfuzzy on 23/02/2022 - 22:23
    +1

    The agent can find a tenant for almost any property provided you have the right price.
    It sounds like you don't have the right price.
    Lower it.
    Or wait.

  • WreckTangle on 23/02/2022 - 22:45
    +3

    A responsible landlord would listen to the advice. Or are you a slumlord?

  • Euphemistic on 23/02/2022 - 23:00
    +1

    If you want to sell without tenants contact them immediately, in writing, telling them you are no longer leasing the property. Don’t need a reason. Then you consult your agreement to determine what happens with them.

    We got stuck a few years ago. Was taking ages to lease our property and our situation changed and we decided to sell. Somehow, between or last conversation with the agent and deciding to sell they leased the property so we had to sell with tenants wit a 6month lease.

  • AndyC1 on 24/02/2022 - 07:59
    +2

    OP has run away.

    • WreckTangle on 24/02/2022 - 08:24

      He found too many faults with our comments

      • holdenmg on 24/02/2022 - 08:28

        Damn, OP doesn't have a lease and we don't have a leash. lol

        • AndyC1 on 24/02/2022 - 09:48

          wolf wolf wolf.

  • jv on 24/02/2022 - 09:54
    +1

    Real Estate Agent Cannot Find Tenant

    Have you tried reporting it to the police ?

    How long have they been missing?

    • pharkurnell on 24/02/2022 - 10:27
      +2

      4 years… decomposed from having no roof and the weather got in

  • johnDK123 on 24/02/2022 - 10:41
    +3

    Wow, so many comments in such a short time. Thanks everyone, To give you an idea of the property, it is a new apartment just 1 year old, I bought it off the plan. It is on Victoria Rd and there are about 100 units. A unit next door was leased out in a week, and the feedback given to me from the agent is that everyone literally everyone thinks it is too noisy as it is next to a main road, which is a little hard to believe, it's not as if the visitors do not know about the location. About the contract signed, it doesn't talk about anything if there is no tenant found , everything is about after a tenant starts. I have listened to every advice he has suggested, put flyscreens on the windows, went with the price he quoted, reduced the price, had inspections during the week in spite of us living here with 2 toddlers. So, definitely not a slumlord :) Anyway, it's good to see so many comments and people having a laugh with it. It was probably the biggest mistake of my life to buy an off the plan apartment, if I sell this now I will lose quite a lot of money, but keeping this also not helping as I can't even find a tenant. Now I just want to sell it off with whatever I get. Cheers

    • WreckTangle on 24/02/2022 - 20:11
      +2

      +1 for taking our criticism on the chin

    • baker bob on 25/02/2022 - 01:36
      +1

      1 bed, off the plan, main road, unit in a block of a 100. It's an expensive lesson but if you had posted any one of those features in a property forum no one would have recommended a buy. I'm sorry you got burnt man.

      As for leasing, gotta keep dropping the price until someone bites. It's a busy road but at a certain price point someone will live there. Is there any one agent that seems to have a lot of the leasing business in the area? Go with them. That's also a good approach to finding a selling agent.

      • johnDK123 on 25/02/2022 - 13:30

        Yup an expensive lesson indeed :)

  • FreeUyghur on 24/02/2022 - 12:31

    suburb name?

    • brad1-8tsi on 24/02/2022 - 14:17

      Sounds like Rozelle heading towards Gladesville.

    • johnDK123 on 25/02/2022 - 13:28

      Melrose Park

  • godofpizza on 25/02/2022 - 14:54

    drop the asking price for the rent to get a tennant, then swap REA.

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