Christian Osgood describes a hybrid property-management model for small landlords: build a network of three to four early-career brokers, text them when you have a showing, pay $20 per showing and $100 per placed tenant. The first broker to respond gets the job.
Chapters
If you're a landlord who's bought enough rentals where you're actually losing time but you don't have enough rental income to have full-time staff, this hybrid model is for you. You're going to find a network of brokers. Now, in this case, you're not actually looking for the best agents, the biggest agents. You find a young, hungry broker who has a little extra time, wants to make some extra money, and I want to build an arsenal of 3 to 4 of them. And I call this my broker network. All we do is when we have a lead and we have a showing, we have a fixed price. Now the prospective tenant actually has to fill out an application. So we have an actual applicant who is interested in the unit. I then will send a text out to the broker network. Hey, who wants to grab the showing? It's first come, first serve. So the hungriest agents always get the first shot. For me, it's $20 per showing and it's $100 per tenant move-in.