Airbnb Managers partnering with local realtors?

[Sam159]

Hi All,

I am a property manager looking to get set up on Airbnb so diversify a little!

I was wondering if anyone has any experience in working with local realtors to increase their portfolio of rentals they manage? If so, what type of deal was struck? I know that there must be a way to benefit both parties while still making a healthy profit for the owners of the property!

Any suggestions would be greatly appreciated.

Thank you all in advance.

Sam

[David126]

Why would you go through a realtor and not contract directly with the owner?

[Wendy-and-Frank0]

I'm a real estate agent.  I'm not sure I understand what it is you would want a real estate agent to do for you.

In the non-BNB world, I charge one month's rent as my commission from the landlord and 10% of rents collected to manage the property.  This is when I represent the landlord.  I don't like to represent the tenants for a variety of reasons.

In the BNB world, I don't know where I would fit in.

The "tenant" registers through ABB.  ABB handles all the money.  "Landlord" agrees to accept or not accept the "tenant".

Why would a real estate agent be needed?

[Matthew393]

Hi Wendy, I'd be curious, what kind of property management duties do you perform for the landlord? I'm in the process of getting my real estate license, and would be interested 8n hearing what works/doesn't work? Ever thought of doing property management for Airbnb as well?

[Mauro418]

Hello Wendy,

there are markets where landlords are basically relying 99% of the time with real estate agents (here in Luxembourg it works like that).

In these scenarios is almost impossible to get in touch with landlords directly. All the "craiglist" like platforms have basically listing put by real estate agents.... not landlords.

[Dr-Rashel0]

I'm Just asking ,If is legal for Real estate agent or broker do Hosting too? 

[Super47]

@Dr-Rashel0

The vast majority of 'hosts' on the platform nowadays are real eatate agents, brokers, property magnates, developers and investment giants. Whether or not it's legal will depend on the regulations of your individual jurisdiction

[Dr-Rashel0]

Thank you . Happy Holiday.

[Wendy-and-Frank0]

@Sam159, after reading your post again and reading @David126's response, I am gleaning that you would want real estate agents to bring you properties for you to handle through ABB.

You're not going to get any help.

We would be eased out of the equation and you would be the one earning the commissions (or whatever you arrange to call it).  As David said, you'd have to go to the owner directly.

[Sam159]

@Wendy-and-Frank0 @David126 Thank you both for the information!

I was wondering if it was ever the case where an owner would be passed on to another person by a realtor for any reason? 

Other than word of mouth through our existing clients - what have you found the most successful way of obtaining new properties?

Thanks again!

Sam

[Wendy-and-Frank0]

Are you a licensed real estate agent, @Sam?  Or do you have access to the MLS?  (In our state, property managers have to be licensed real estate agents.)

If you DO have access to the MLS, you can see how many houses have been sitting on the market, vacant, waiting to be sold.

I would reach out to those owners, explain ABB to them, and RENT their properties from them for three months.  Only three months so that they can still sell it.

You want to be the one to rent the house so that you're not in breach of the third-party issue.

You want the calendar to only extend to three months so that you can unlist the house once it goes under contract but still be able to honor bookings within that three-month window.

Where you're going to have major headaches is that agents and the owner will still want to show the house and you may have guests staying there who have a reasonable expectation of privacy.  I could see this being your biggest problem.

If you could convince a seller to take his house off market for a few months, then you may have better results but you have the be the tenant with a rental agreement or lease that gives you exclusive rights to sublease.

I am not an attorney and I am not giving you legal advice so you have to check your state's laws but this is the gist of it from the perspective of a real estate agent.

Good luck to you!

[Scotty3]

Wendy, i actually partner with the realtor who brings me the property. So another revenue stream for the realtor in addition to them selling homes or renting properties. Realtors seem to be happy about that. 

[Ann72]

@Scotty3  You have 10 reviews for 0 properties.  4 of those reviews were host cancellations.  It doesn't look like your arrangement has worked out in a way that can be recommended to others posting here.

[Ute42]

.

Good  Morning @Ann72  ,

You get up pretty early in New York.

Scottie's post was from june last year, I think he's already bailed out from his business.

Let's have a cup of coffee  😊

[Ann72]

@Ute42  It's not that early in Maine 🙂

I only commented in case newbies were scrolling and got excited about his ideas.  It's been known to happen.

Thanks for the coffee 😘