What is a Leasing Agent: A Complete Guide for Beginners

So, what is a leasing agent? What is the difference between a real estate agent and a renter agent, how much do they earn, and how to become successful? I will share everything you need to know. So first, start with the definition of a leasing consultant or agent.

What Is a Leasing Agent?

An agent is who helps property owners find tenants for their buildings. He can also help find tenants for commercial office buildings, stores, restaurants, and other real estates. They act as a middleman between tenants and lease properties and help property owners have a steady flow of tenants all the time who are ready to move into their properties.

For tenants, these agents help with their rental process, like setting lease terms and conditions, fair rent pricing, giving a property tour, handling all lease documents, security deposit maintenance, background checks, and credit checks. It will ensure the renters are eligible and well-protected to move in. They also advise old renters to take care of their needs, like renewals for lease agreements and other important stuff.

Real Estate Agent vs Leasing Agent

Normally real estate agents can do all the work a rental agent does, so why do we need a special rental agent? An agent is a professional or an expert who only does leasing. He knows all the new laws and directly works with the property owner. Where a real estate agent works with the company, not directly with you. It is like, an agent is like a friend with whom you can get along.

Plus, they do not need a license to lease property and can work independently. You will get better services if you choose them, especially if you have many units to fill up. A professional rental agent is all you need.

How much do They Make?

They work on a commission, and it’s common in every part of the world. Some agents charge a fixed price. Some will charge you the 1st-month rent if he finds you a good tenant and about $100 from the tenants if they like the house. Some people may charge a commission of 2 percent of the value. But the fixed price is common.

How to Become a Good Agent?

How to Become a Good Leasing Agent

Now I will share the best tips for becoming a good agent. Look, it all depends on your knowledge of the market and the reputation you have in the eyes of your clients. You have to treat it like business and make yourself famous. Then, you will get a constant flow of clients.

1. Research Your Local Market

When dealing with clients, know everything about the latest renal market, the document process, and every detail your clients may ask you. Finding a tenant is not easy, and no property owner will ever trust an agent who is not qualified enough. You have to train yourself.

2. Prepare a Business Card

A business card will tell your client what you can do for them. Make it simple and add some phone no, email, and a website link so they can know about you and what you are best at. It will do the marketing and build a professional reputation in the eyes of the property owner.

3. Get a NALP Certificate

Yes, you don’t have a real estate license, but it’s a must you get varied by the National Apartment Association titled National Apartment Leasing Professionals (NALP). If you are facing trouble finding work as a new agent, it will help you as you are verified now. Get it to make your work legal and safe from law disputes.

Last Words

So now you tell me what is a leasing agent? An agent who finds tenants for property owners and helps tenants get a good house. They will charge a fixed price from both sides and help you with everything in the rental process. 

They are experts and are different from normal real estate agents. For rental purposes, don’t go to a normal agent but hire a rental agent. I hope you got your answer. Thanks for making it to the end. See you soon.

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