I have read a thread about multi-listing your investment property (mine is in Sydney, NSW) for renting out. It is a relatively new concept to me. I didn't even know until recently that you could do something like this. It seems that it has its pros and cons. Personally, I feel more comfortable with selecting the agent I think is the 'best' and giving him the business. However, I would like to know how common it is. Does every other investor engage in multi-listing for letting out a property ? Is this something I should consider seriously ? Can people please tell me:
1. If I go for multi-listing for letting out, what kind of agency agreement do I sign with the agents (is it called an open agreement ?) ?
2. Can I bargain on the agency agreement notice period (in case of exclusive agency agreement). I think agents tend to put in 60 or 90 days notice period for terminating the agreement. That seems a long period in case you are not happy with the agent and want to change the agent. How common is it to bargain the notice period and bring it down to 30 days ?
1. If I go for multi-listing for letting out, what kind of agency agreement do I sign with the agents (is it called an open agreement ?) ?
2. Can I bargain on the agency agreement notice period (in case of exclusive agency agreement). I think agents tend to put in 60 or 90 days notice period for terminating the agreement. That seems a long period in case you are not happy with the agent and want to change the agent. How common is it to bargain the notice period and bring it down to 30 days ?