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Agent managed vs. DIY


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Should I used a Real Estate Agent or just rent it out my self? In this episode, learn the Pros and Cons on using a Real Estate Agent to manage your Rental Property VS Doing-it-Yourself (DIY).

Published in: Real Estate
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Agent managed vs. DIY

  1. 1. Tenant Management Agent Managed vs. DIYRenting Out your Own PropertyMy name is Michael Gilbert and I am For those who dont know me, Ima licensed real estate agent from Victoria and also in NewSouth Wales, and Ive been in the game for approximately eightyears. Im here to talk to you, and talk to myself in front of thecamera about using a real estate agent or renting out yourown property yourself. So, one thing I will start with bysaying is that theres "not one size fits all." Theres no oneanswer thats going to fit you and your next door neighbour. 1 of 6
  2. 2. Tenant Management Agent Managed vs. DIYYour Rental PropertyA couple of things I could mention to start with is that ifyoure business-minded and youve got a strongpersonality, well thats going to go heavily in your favour.Also if you live within 2 hours drive of your property, ofyour rental property, then its going to be a lot easieras well. Because a real estate agent will tend to go toyour property on average maybe about 3 to 4 times peryear. 2 of 6
  3. 3. Tenant Management Agent Managed vs. DIYUsing A Real Estate AgentSo lets look at the pros and cons of using a real estateagent. So the first thing first is that they have a lot ofexperience, they do it every single day, theyre able tohandle different scenarios thats thrown up at them,whereas when youre doing it yourself, you might not bequite used to it, whereas theyll be used to that sort ofthing. 3 of 6
  4. 4. Tenant Management Agent Managed vs. DIYPros of Using a Real Estate AgentSecondly is time. If youre using a real estate agent thenyou dont have to spend as much time on managingyour own property, youve got your local real estateagent whos actually doing it for you. If you were doingit yourself, you may spend approximately 25 hours peryear, maybe more maybe less, thats depending on, youknow, repairs and maintenance, depending on yourtenants and how good they are. 4 of 6
  5. 5. Tenant Management Agent Managed vs. DIYCons of Using a Real Estate AgentSo the cons of using a real estate agent are thatobviously it costs money. Everything we love costsmoney and using a real estate agent will cost youapproximately $1500 to $2000 every year, this dependson the price and the quality of the real estate agent thatyoure employing. Second one is that, the second con ofusing a real agent is that you do lose some control. 5 of 6
  6. 6. Tenant Management Agent Managed vs. DIYRental Property ManagementYou have to rely on the actual property manager thattheyre doing the right job, and in some places aproperty manager does manage 200 properties, 300properties, and theres a lot for them to handle andtheyre not always thinking about your property.Property manager are less tuned into your particularproperty, whereas if youre doing it yourself, then youremore tuned in and its probably a bit easier to tune withyour tenants, make sure that they‘re happier. And iftheyre happier, the tenants stay longer, which also savesyou money. 6 of 6