Denver realtors are unfortunately not able to help renters…we KNOW, it is REALLY hard to find a great rental, then you call up some Denver Realtors to lend a hand and they say they can’t help…arggg. What is up with that??!?!
Given the fact that sales of real estate have suffered over the last several years, you would think that Realtors would be a great source for helping renters. Not so. Denver realtors know that the rental markets are a difficult source of income… essentially finding that there is no way to get paid. Here’s why.
First off, the MLS system that covers real estate sales is functionally a contract between the Realtors that there will be a commission paid and outlining the terms of division of that commission (some goes to the buyer’s agent and some goes to the seller’s agent). With rentals there is no co-opting of commissions so there is no way for a Realtor to get paid. Most rental properties are not ever entered into the MLS (unless they are a commercial space) and so there is no agreement for pay.
What does this mean to you as a renter? Because the Realtors cannot be paid on rental properties, they cannot spend time marketing or showing them (whether you like the system or not, I bet you wouldn’t work for no pay either!) Most rental properties are shown through Denver Property Managers (like Denver Realty and Rentals) but only the houses that they manage…they will not help you search out other properties managed by other companies…sigh.
So what should you do? There are a number of places where you can look for rentals like:
This is a very difficult system for everyone, leaving tenants scrambling to find a home and Realtors looking like the bad guys who won’t help.
Here is one last tip that might help! When you find listings for rentals, make a note of whether a company or the owner lists it. If it is a company, make note of the name and number and give them a jingle every couple of weeks or so to see if they have anything on the market that fits your needs. I KNOW, they say they will take your name and number and call you, BUT most houses are rented within a couple of weeks using systems they have in place that do not include calling up people one by one to see if they are still looking for rental properties!
We LOVE the tenants at the properties that we manage and have great working relationships with both them and our owners, making sure everything is win-win all the way around. This situation breaks our hearts when we stories of people looking for months to find a place to live with very little luck. Hopefully this helps explain why Denver Realtors can’t help renters and while not great will at least let you know you are not alone struggling to find a rental property.