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Real estate agents in PR

Hi there  !  :kiss:
Question: How does a real estate agent getting paid works, when you renting a place in PR ?
I'm coming mid September to finally get an apartment. Here in GA ,we have a state authority that guarantees the agent is paid by the owner. I'm afraid of being steered to the agent's own listings, instead of being shown all the places available. I have been looking at the classificados, and I'm not sure weather to hire an agent or to go directly  to the listing agent advertising the ap.
Thanks for your help  :thanks:

I would hire an agent you can get a better idea of what's available out there I think. Agents usually get paid by owner. I just bought a house through a wonderful agent that helped me immensely in so many ways and nothing but great things to say about them .... Johnny

I would suggest you visit the rental owners if you can.
A friend agent tells me that on a yearly rental the agent gets 1 month from the owner based on negotiated rental.

If your agent is different from rental agent they split the 1 month.
If you agent does not have the property listed and there is no other agreement, then your agent negotiates with the owner and come to some understanding for getting you.
If I get more info I will post again.

ReyP :

I would suggest you visit the rental owners if you can.
A friend agent tells me that on a yearly rental the agent gets 1 month from the owner based on negotiated rental.

If your agent is different from rental agent they split the 1 month.
If you agent does not have the property listed and there is no other agreement, then your agent negotiates with the owner and come to some understanding for getting you.

If there is maintenance on a schedule basis, then owner pays maintenance to agent or maintenance contractor.

Given that the owner has to pay the agent or the maintenance crew, he will adjust the monthly rental accordingly to make up for the expense before advertising the unit.
If I get more info I will post again.

House sales, based on observations while I was researching in the island:
1) Seller agents will put a lot more energy on homes they think they can move quickly. If something is wrong with the property or the price is not competitive, your property may just sit there and not get recommended.
2) If the house is not getting any bites the seller agent will suggest that the seller lower the price to make it more competitive, in that case the seller agent may start showing the property.
3) Houses may be in the market for a long time because the seller agent is not pushing them.
4) Sometimes seller agents will not answer the phone listed for a particular house, I seen it happen, sometimes the agent will not return calls for weeks at a time. All I can think is that the agent has a particular income in mind and once he reaches it, he saves the properties for leaner times.
5) Buyer agents are more responsive if they can locate the seller agent and work out a split on the fees. Most of the time it is locating the seller agent that is the problem, not the working out of the split.
6) Some seller agents are very inexperienced and the buyer agent has to push him along and show him the ropes and procedures,
7) When buying get a buyer agent if you can.

If you dont want to guess, just go to zillow a read the reviews from local agents in PR and you will see that if they had work before with family's relocating to PR.   That will be the Best way to go.

I am new to the real estate market in PR, but I can tell you my experience just with making inquiries has been terrible.  I have experienced a lot of unprofessional behavior just based on price of properties alone.  Most of the time no one answers the phone on the 2nd call when they see the price range you are searching.  If it is below 100k or 200k they flip you off.  This has been my experience with every agent I have spoken to by phone and email.  Only 2 email inquiries out of more than a dozen have gone unanswered!   
I have found that very few agents can beat finding quality rentals through the actual property owners or a tenant who is subletting.  You do not have to be there on the ground.  Much can be done in forums like this one, just making connections and using listing sites where owners rent their own minus any middle man.

Most agents in PR are seller agents, they will only show your their listings. So you have to deal with a bunch of seller agents or use 1 of the few buyer agents.
A lot of seller agents will not move for anybody if you are looking for a low price place and ignore your call. Some are part timers and do not check their emails or messages regularly, besides they only have a few listings.
Some are relocation agents, they are great because they will make just about every possible thing for you, but you are paying a fee for their service (thousands) and they cater to high price properties of around a million or more.

Based on my personal experience, the best way to look for properties in the island is in person. Most websites are not updated and most agents are more concerned about the quick turn around. If you are going about the Realstate market inthe island is the same as in the states you are going to have a rude awakening. Specially if you are looking for properties under $100K, like previous mentioned, agents in the island are mainly for high price properties.

Some of the problem is the owner expectations, they want to sell for 180k for example (price of 2005), but today that place is worth 130-140. If the seller can not find a chump in 90 days, he won't even show the place in the future unless the agent is hungry. Some agents will stop taking calls from the owners. Some properties sit for two years or more and if not maintained, they get worse and the likelihood of selling it is worse.
The formula is a willing owner and a hungry agent or wait a long time until the owner becomes willing and the agent hungry.

I know this post is old, but for anyone new reading this,
do yourself a favor and research all home/apt options on Www.clasificadosonline.com. PR does not have an MLS like the states, the realtors use clasificados online too. This will give you more knowledge and control. Also, I ended up realizing I got the best and quickest responses when I just directly called the listing agent on the ad. Of course this is unorthodox but I prefer to do my own research and scheduling. Btw clasificados online also has job listings and pets and used stuff for sale- everyone really uses it. It's awesome. It's like the subway gets used in NYC, it's the normal thing here. Happy house hunting people! Puerto Rico is gorgeous!

Be very careful who you listen to.. many don't say the full story.. want to save time?  If you are new to the island you need someone to show the place and get you where you'd like to live, it might not make that much sense at first but you'll end up saving time, effort and $ big time, need more details just ask!

A lot of people waste time and money coming to the island like a kid in a candy store. Their eyes are bright. But they do not know how things work in the island.
Having to call 20 agents and getting 5 responses gets them frustrated, half the time the ones that call will not accept to take the potential buyer around because they been burn too many times with people that waste their time. The come look and do not buy anything partly because they are not sure where they want to live or what sort of living they want. A city, country or beach front are very different living styles and some are out of their price range.

Some people want the realtor to find them schools, take then around show them the shops, supermarket, etc and they want it for free. Agents work for a living, they need income like you and me, if you waste their time you may end up blacklisted like many Expats.

Come to the island, visit on your own or get a guide for 150-200 a day, pick his brain and once you know what you want then use an agent. He will take you to houses that match your needs, you will save time and money and have the right place to live.

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