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Lease option fees are different for every person, depending on the kinds of homes you’re working with. You can get lower option fees for more affordable homes that you can move easily or you can get much higher fees for bigger, more luxurious ones. It’s really up to you!

Watch this video to learn more about lease options fees and how they vary so you can have a better idea of how much you can earn!

Key Talking Points of the Episode

[00:00] Introduction
[00:22] Focusing on blue collar homes
[01:17] How does area affect the fees we collect?
[02:13] What is the “option fee”?
[02:40] How does the housing market affect the option fee?
[03:39] Why should you follow up on your lease options leads?

Quotables

“I purposely focus my students, Dream Partners, to target more blue collar properties because they’re easier to move.”

“My average is gonna be lower because I like to work with those more affordable homes, but easier to move. I’d rather be Walmart than Pier One Imports or have a boutique shop. I’d rather move 2-3 deals at $8K-10K than one every 6 months at $20K-30K.”

“The option fee or the assignment fee is how much you’re paid on a lease option assignment.”

“The housing market has been at record appreciation year after year and our option fee is based off of the sales price, so of course you’re gonna see that go up.”

“Of course, we’re seeing higher prices of the houses we’re bringing in, so what the student’s gonna get paid goes up as well.”

“A lot of sellers wanna at least try and sell it either on their own or with an agent first. So you send that price sheet there, that’s always gonna be simmering at the back of their minds.”

“That can get frustrating, but once you build that traction, not all, but a good chunk will come back that couldn’t sell it and they just needed that time to elapse first.”
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