The Dynamics of Selling a Rental
Selling a home with a renter in place can be a challenging experience. Most renters are not going to be excited about a flood of people coming to look at their house. The Seller is wondering why is it so hard to sell their house. The listing Real Estate Agent has the challenge of trying to set appointments with the person who has no motivation to lose the house they are renting. The Buyers agent in some cases may try to avoid showing a house with a renter due to the logistics involved.

Renters Perspective
Imagine you have rented a nice home and are enjoying the house when you are notified that the owner has decided to sell the home. This means you are in essence forced into a partnership with the home owner. This is not what you signed up for, and the perceived inconvenience seems daunting. You are probably renting because you are unable or not ready to purchase a home, and now you find yourself helping someone you don’t know, sell theirs/yours. Success to the owner means that you will be forced to move.

It is true that the new buyer will have to honor the lease you have signed, but this does not ease the burden of showing the house. According to Utah Legal Services, the renter must be given 24 hours notice prior to showing it. Another question arises about allowing the Real Estate Agent to put a lock box on the house. This would give access to all of the real estate agents in the area. If you decided to be present at all showings this can also be an inconvenience.

Sellers Perspective
You have decided to sell your rental property, and would like to sell it prior to your renters departure. This will require perfect timing, and cooperation from your renter. Will the renter keep the home in “show ready” condition? Will they cooperate with the agent you have listed the house with? Will they be accommodating to agents trying to show the house? Will they try to sabotage the sell so they don’t have to move? If things are tight financially, how much will it cost to complete the transaction? Will there be unexpected repairs that need to coordinated with the renter?

Listing Agents Perspective
The listing agents perspective is similar to the sellers perspective. His or her responsibility is to see that the seller is able to sell their home for the highest and best price. In addition to gaining the trust of the person selling their home, it is important that the agent develop a working relationship with the renter. The listing agent acts as a buffer between the seller, the renter, and the buyers agent, assuring that things go as smoothly as possible.

Buyers Agents Perspective
The buyers agent is simply trying to find a home for a buyer that he is working with. He will probably never know about any underlying issues, or conflicts associated with the listing. If this is the case, the Listing Agent has done a good job. If the home is listed with a lease in place, the buyers agent will need to make sure his buyer understands that the lease is sold with the home. If the lease is due to expire in 30-60 days it will usually not be a very big issue, as it typically takes about 45 days to complete a transaction.

This blog post was shared by Kevin Richey.
View Kevin’s website HERE.